Hassan Nemazee

NEW YORK (Reuters) - A U.S. judge handed a 12-year prison sentence on Thursday to Hassan Nemazee, a former fundraiser for Barack Obama and Hillary Clinton who admitted to a $292 million fraud of three major banks. Nemazee had pleaded guilty on March 18 to charges of bank fraud and wire fraud over loan transactions involving Bank of America Corp, Citigroup Inc and HSBC Holdings Plc. The defendant was also sentenced to three years of supervised release, and ordered to make $292.3 million in...Read Full Story

NEW YORK (Reuters) - Federal prosecutors are seeking a prison sentence that could approach 20 years for Hassan Nemazee, a former fundraiser for Barack Obama and Hillary Clinton who admitted to a $292 million bank fraud. Nemazee, 60, pleaded guilty on March 18 to three counts of bank fraud and one count of wire fraud in connection with loan transactions involving Bank of America Corp, Citigroup Inc and HSBC Holdings Plc. He also agreed to forfeit his interests in property and accounts...Read Full Story

A wealthy Manhattan investment banker who was once a top fundraiser for Hillary Rodham Clinton and other big-name Democrats was sentenced Thursday to 12 years in prison for bank fraud. Hassan Nemazee had reached a plea deal in March, admitting to three counts of bank fraud and one count of wire fraud. Judge Sidney Stein said he'll get out of prison in about a decade. Nemazee was the national finance chairman of Clinton's 2008 presidential campaign. He also raised money for President Barack...Read Full Story

NEW YORK (Reuters) - Hassan Nemazee, a fund-raiser for Barack Obama, Hillary Clinton and other Democrats, has been indicted for defrauding Bank of America, HSBC and Citigroup Inc out of more than $290 million in loan proceeds, U.S. prosecutors said on Monday. The announcement follows last month's indictment of Nemazee, head of a private equity firm and an Iranian American Political Action Committee board member, on one count of defrauding Citigroup's Citibank. The new indictment adds...Read Full Story

NEW YORK (Reuters) - A former political fundraiser for leading Democratic Party politicians, including Barack Obama and Hillary Clinton, pleaded guilty on Thursday to defrauding three major banks out of $292.2 million in loan transactions. Hassan Nemazee, 60, once head of a private equity firm and an Iranian American Political Action Committee board member, admitted in Manhattan federal court to defrauding Bank of America Corp of more than $142 million, Citigroup Inc of $74.9 million and HSBC...Read Full Story