Hassan Nemazee

In Plea Deal, Ex-Clinton Fundraiser Nemazee Gets 12 Years

Rachel Slajda | July 15, 2010, 1:45PM

Hassan Nemazee

Hassan Nemazee, a former fundraiser for Hillary Clinton, was sentenced today to 12 years in prison after pleading guilty in March to bilking banks out of $292 million.

Nemazee pleaded guilty to three counts of bank fraud and one count of wire fraud. Prosecutors said Nemazee operated a type of Ponzi scheme in which he borrowed large amounts from three banks using fake collateral, and then paid off the debt with more loans.

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