Accused of $74M Loan Fraud, Nemazee Did it Again--Twice, Prosecutors Say
Accused of duping Citibank into giving him a $74 million loan based on fraudulent documents misrepresenting his assets, a prominent Democratic political fundraiser reportedly had paid the money back by the time he was criminally charged with bank fraud last week.
But now prosecutors say Hassan Nemazee, 59, got the money to repay Citibank by duping a second bank into making him a similar loan based on fake documents and forged signatures, reports the New York Times. And a letter they filed this week in U.S. District Court for the Southern District of Manhattan says Nemazee also obtained about $100 million from a third bank by providing “similar false and fraudulent information.”
The other two banks aren’t identified in the letter and no additional charges have been filed against Nemazee concerning the two additional loans, the newspaper reports.
Nemazee hasn’t yet entered a plea, and his lawyer, Marc Mukasey, declined to comment to the Times. Nemazee has been released on $25 million bond and is confined to his apartment.
A Citigroup representative also declined to comment, except to say that the bank is cooperating with authorities.
Additional coverage:
Bloomberg: “Fundraiser Nemazee Defrauded Other Banks, US Says”
New York Daily News: “Hillary Clinton pal Hassan Nemazee faces rap in $74M bank scam”
New York Times (Aug. 25): “Fund-Raiser Is Accused of $74 Million Fraud”
Wall Street Journal: “Fund-Raiser Faces New Allegations”
