Hassan Nemazee, CEO, Faces 30 Years for Fraud

By Tiffanie on
Hassan Nemazee, the 59-year-old CEO of Nemazee Capital Corps, was arrested today for allegedly fabricating documents to obtain a $74 million loan from Citibank. Although he repaid the loan to Citibank yesterday, he is currently being held overnight and will be released tomorrow on $25 million bail. According to Bloomberg, the financier used fake addresses and phone numbers to mislead the bank into thinking he had accounts with hundreds of millions of dollars. The Prosecutor in the case...Read Full Story