Obama Fund-raiser charged w/ $290 million Fraud

[festeringZit]

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U.S. charges Obama fund-raiser in $290 million fraud

Mon Sep 21, 2009 6:25pm EDT

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US charges Obama fund-raiser in $290 million fraud
5:43pm EDT
HSBC sues accused Democratic fund-raiser in New York
Friday, 18 Sep 2009 06:37pm EDT


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By Grant McCool
NEW YORK (Reuters) - Hassan Nemazee, a fund-raiser for Barack Obama, Hillary Clinton and other Democrats, has been indicted for defrauding Bank of America, HSBC and Citigroup Inc out of more than $290 million in loan proceeds, U.S. prosecutors said on Monday.
The announcement follows last month's indictment of Nemazee, head of a private equity firm and an Iranian American Political Action Committee board member, on one count of defrauding Citigroup's Citibank.
The new indictment adds allegations that he defrauded two other banks, Bank of America and HSBC Bank USA, in a similar fashion by falsifying documents and signatures to purportedly show he had hundreds of millions worth of collateral.
The office of the U.S. Attorney in Manhattan and the FBI said he used the proceeds of his scheme to make donations to election campaigns of federal, state and local candidates, donations to political action committees and charities.
He bought property in Italy and paid for maintenance on two properties in New York.
His lawyer could not immediately be reached for comment.
As of August 2009 Nemazee owed Bank of America about $142 million and owed Citibank about $74.9 million, the indictment said. He drew on a line of credit he fraudulently obtained from HSBC to pay the Citibank loan.
Nemazee, 59, typically donates more than $100,000 annually to Democratic political candidates. He is listed as one of the top "bundlers" of contributions to Obama's 2008 presidential campaign, according to OpenSecrets.org, a website run by the Center for Responsive Politics research group.
"For more than 10 years, Hassan Nemazee projected the illusion of wealth, stealing more than $290 million so that he could lead a lavish lifestyle and play the part of heavyweight political fundraiser," United States Attorney Preet Bharara in Manhattan said in a statement.
Nemazee was arrested at Newark Liberty International Airport in New Jersey on August 23 as he was checking in for a flight to Italy, according to court papers. He was released on bail.
If convicted on three counts of bank fraud, Nemazee faces up to 30 years in prison and millions of dollars in fines. He is also charged with identity theft.
The case is: U.S. v. Nemazee, 09-mj-1927 in U.S. District Court for the Southern District of New York (Manhattan)
(Reporting by Grant McCool, editing by Leslie Gevirtz and Matthew Lewis)

 

[FadeMeToWin]

You are the result of your environment and the company you keep................... Unless you are Obama of course......

WAKE THE FUCK UP PEOPLE

 

[Willie99]

funny, what party keeps having fundraisers arrested again?

the inaccurate perceptions and blatant hypocrisy are startling

 

[punter]

Lets see Tom Delay quit politics rather than face prosecution fo all his fundraising shenanigans. Of course his aides all went up. Yep by your standards the party of hate is ahead. HA!

 

[festeringZit]

Lets see Tom Delay quit politics rather than face prosecution fo all his fundraising shenanigans. Of course his aides all went up. Yep by your standards the party of hate is ahead. HA!

Glad to see you're finally seeing the truth about the Democratic Party.


The Party of Hate, The Democratic Party:

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[Willie99]

Lets see Tom Delay quit politics rather than face prosecution fo all his fundraising shenanigans. Of course his aides all went up. Yep by your standards the party of hate is ahead. HA!

so now you can just leave politics to avoid being prosecuted for a federal crime, brilliant

Hassan Nemazee
Norman Hsu

Chinatown, the poorest Americans making maximum contributions annually

China itself gets mega concessions and contracts from Bubba. In return, mega donations to the Democrats.

Never mind the unethical relationship with politically active labor unions

1960 and voter intimtation

dead voters in Chicago (it's simply accepted there)

dead voters electing LBJ in Texas

the real money is raised by the Democrats and the real crimes are committed by the Democrats, the proof is in court records and history books.

Of course, the reporters are Democrats, so the truth isn't known by many. The typical Democratic defense? they are doing it too!! LOL

 

[ProPokerPlayer]

Holder will have these charges dropped before the end of the week. Clearly the investigators had racial motives for the charges....