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Feds: Nemazee Swindled Two Other Banks
Zachary Roth | September 2, 2009, 4:06PM
Hassan Nemazee, a fund-raiser for H. Clinton and President Obama
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It looks like that fraudulent $74 million loan that top Democratic fundraiser Hassan Nemazee allegedly obtained from Citigroup may have just been the tip of the iceberg.
In a letter to the judge in Nemazee's case, reported by Reuters, prosecutors claimed that Nemazee also ripped off two other banks.
One of those additional swindles was used, prosecutors wrote, to pay back that $74 million to Citigroup. Additionally, "the Government learned last week that the defendant had defrauded yet another financial institution (Bank No. 3) by obtaining multiple lines of credit on the basis of similar false and fraudulent information."
With the charges against the former top fundraiser for Hillary Clinton's presidential campaign seemingly set to mushroom, could other political contributors or Nemazee associates find themselves dragged in?
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Love America OWBY
September 2, 2009 10:54 PM
He is just doing it on a little larger scale than most.
If this is a crime, we will need to start building more prisons.
This sounds like a no document loan almost every broker and Realtor knows of more than one.
Flipping houses was based on the fact that there wasn't any real income or cash flow.
Why else would you need a no doc loan.
I you want lock up more people to replace convicts getting out because of the change in the lighter sentencing laws for crack cocaine,
All you would have to do I look in the yellow pages under mortgage broker from 2006-2007 and you should be able to lock up at least 100,000 plus.
Or for fun find out how many Prosecutors got no doc loans!
Hey lets stir this up.
Lets see bailout big guys that know about bad loans still invest your money.
Little guy(average tax payer) doesn't know has to pay.
Big guys win.
Thank you Government.
If you want to see real crime you may have to read something that isn't written in the USA
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johnnydoughey
September 3, 2009 12:55 AM
Now that he has become better known, he would probably be able to get enough support for a run for any number of offices in Washington...
If he was honest, he would lose most opportunities to make it into office in THIS nation.... IMHO
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