Hassan Nemazee

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 allegations that he defrauded two other banks, Bank of America and HSBC Bank USA, in a similar fashion by falsifying documents and signatures to purportedly show he had ... Read Full Story

NEW YORK (Reuters) - Many of the fake documents used by a leading Democratic Party fund-raiser to defraud HSBC and Citigroup Inc were made by his brother-in-law, U.S. prosecutors said on Friday. Authorities arrested and charged Shahin Kashanchi, brother-in-law of indicted fund-raiser Hassan Nemazee, who donated to the presidential campaigns of Barack Obama, Hillary Clinton and other leading Democrats over the years. Nemazee pleaded not guilty on Wednesday in Manhattan federal court to defrauding a total of three banks -- Bank of America was the other -- out of $292 million in loan proceeds. "Based on e-mail traffic between Kashanchi and Nemazee, Kashanchi was ... Read Full Story

NEW YORK (Reuters) - A fund-raiser for Barack Obama, Hillary Clinton and other Democrats who was charged last month with defrauding Citigroup Inc is being sued by HSBC for deceiving it into lending him $100 million. The lawsuit filed in New York State Supreme Court in early September accused private equity firm head Hassan Nemazee, 59, of engaging in an elaborate scheme to make HSBC Bank USA believe that its loan was secured by collateral in the form of U.S. Treasury Notes when it was not. Nemazee, who sits on the board of the Iranian American Political Action Committee, typically donates more than $100,000 ... Read Full Story

NEW YORK (Reuters) - A leading Democratic Party fund-raiser pleaded not guilty on Wednesday to charges of defrauding Bank of America, HSBC and Citigroup Inc out of $292 million of loan proceeds. The fund-raiser, Hassan Nemazee, head of a private equity firm in New York and an Iranian American Political Action Committee board member, donated to the presidential campaigns of Barack Obama, Hillary Clinton and other leading Democrats over the years. At an appearance in Manhattan federal court, he answered "not guilty" to charges he defrauded the banks by falsifying documents and signatures to show he had hundreds of millions worth of collateral. His ... Read Full Story

A wealthy fundraiser for Hillary Rodham Clinton and other top Democrats has been indicted on bank fraud and aggravated identity theft charges in an alleged $292 million Ponzi scheme. Federal prosecutors announced the indictment against 59-year-old Hassan Nemazee (hah-SAHN' nah-MAH'-zee) in New York on Monday. It claims he fraudulently obtained loans from three banks between 1998 and this year. Nemazee served as national finance chairman for Clinton's 2008 presidential campaign, and later raised money for President Barack Obama after her primary defeat. He also was Sen. John Kerry's finance chairman in New York for his 2004 bid for president. Nemazee is under house arrest ... Read Full Story