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The United States Attorney for the Southern District of New York issued a press release today announcing the arrest of Hassan Nemazee, the Chairman and Chief Executive Officer of Nemazee Capital Corporation, “in connection with a scheme to defraud Citibank.” The complaint against Nemazee says he:
engaged in a fraudulent scheme to induce Citibank to lend up to $74 million to NEMAZEE based on false representations that NEMAZEE owned millions of dollars in collateral. NEMAZEE submitted, and caused to be submitted, to Citibank numerous documents that purported to establish the existence of accounts in NEMAZEE’s name at various financial institutions containing many hundreds of millions of dollars. In fact, those were fraudulent and forged documents.
This might prove slightly embarrassing because Nemazee is a major Democratic Party donor. According to federal records, he has donated at least $150,000 to the Democratic Senatorial Campaign Committee since 2006, and also gave money in recent years to Joe Biden, Hillary Clinton, Rahm Emanuel, Tom Vilsack, John Kerry and Harry Reid.
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Hours per day that a death-row inmate in China wears hand and ankle restraints:
A multidisciplinary team detected cardiac arrhythmia in the works of Beethoven.
There was a run on cases of 5.56mm M855 green-tip rifle bullets, after the White House moved to ban their manufacture and sale because they can pierce police armor.
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“He could be one of a million beach-bound, black-socked Florida retirees, not the man who, by some odd happenstance of life, possesses the brain of Albert Einstein — literally cut it out of the dead scientist's head.”