Dem Donor Pleads Guilty to Fraud

Embarrassment

Updated Apr. 25, 2017 10:36AM EDT / Published Mar. 19, 2010 6:14AM EDT

Big-time businessman Hassan Nemazee took “full responsibility” in Federal District Court in Manhattan Thursday for a $272-million Ponzi scheme he ran from 1998 to 2009. Nemazee is well-known in top-tier Democratic fundraising circles for his donations to Obama, the Clintons, Kerry, and other causes. “I am deeply ashamed of my conduct,” the 60-year-old former CEO of Nemazee Capital said as he pleaded guilty to wire fraud and bank fraud. Nemazee’s fraud was based on soliciting multi-million dollar loans from Bank of America, Citibank, and HSBC for real estate transactions in Westchester County, NY.

Read it at The New York Times

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Dem Donor Pleads Guilty to Fraud