Hassan Nemazee CEO of Nemazee Captial Arrested: CitiGroup Fraud
The Department of Justice has charged Hassan Nemazee, the CEO of Nemazee Capital Corp., for attempting to defraud CitiGroup of $74 million. Hassan Nemazee was stopped by federal agents on Sunday before boarding a plane to Rome. The $74 million loan was secured with forged documents, which indicated Nemazee had millions of dollars of collateral.
Hassan Nemazee, the chairman and chief executive of Nemazee Capital Corp., was arrested for trying to defraud Citigroup Inc.'s /quotes/comstock/13*!c/quotes/nls/c (C 4.75, -0.01, -0.21%) Citibank of $74 million
Hassan Nemazee has had ties to the White House since Bill Clinton's Presidency: Nemazee was appoitned as the Ambassador to Argentina. Nemazee served as Finance Chair for the Democratic Senatorial Campaign Committee, John Kerry's and Hilary Clinton's campaigns. Nemazee has also donated and fundraised for President Obama.