Hassan Nemazee CEO of Nemazee Captial Arrested: CitiGroup Fraud

by peder.sande | August 25, 2009 at 01:04 pm
248 views | 0 Recommendations | 1 comment

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.

recommend This comment thread is now closed
0
AnnanAmos

Seems that more and more, everyone behind the scenes of any political figures are turning out to be some serious crooks - although...then again, have the people we've been electing all that straight and narrow to begin with?  (We did, after all, elect Richard Nixon, and then there was that whole Iran Contra thing with Reagan.)  I mean, you have the whole Jack Abramoff thing a few years ago, and the fallout from it - Duke Cunningham went to prison, Ted Stevens from Alaska took a lot of stick, and it more or less cost Tom DeLay his career - not that I minded, at any rate - most of those guys were clowns to begin with.  At any rate, it's kind of disappointing to see someone that was so integral to the power behind the scenes, as it were, of the current regime - at least the fundraising side - turn out to be the kind of crook that you'd normally associate with the one that just left - but the reality here is that both sides are equally as LOUSY.  The joke is that there's some kind of illusion of choice.  Youi elect either one group of criminals that want to take your money and give it to people that don't need any more, and want to send all your friends in the services overseas to get killed, or another group of criminals that want to take all your money and give it to anyone other than you, and both sides want more power for themselves than they are authorized for by the rules that were already written for them.  Perhaps it's time for a change, and if I win the lottery, or find a cash advance big enough

This story was created over 3 months ago, the comment thread is now closed.

What is NowPublic?

NowPublic lets people work together to cover news events around the world.

Find out more

Related Stories

 

closeSign in to NowPublic

is reporting from