Hassan Nemazee's Life Of Luxury

Hassan Nemazee

We’re learning the extent of investor and political booster Hassan Nemazee’s alleged fraud: the tally is now at $292 million since 1998 and involves three major banks.See his life of luxury>

Nemazee plead not guilty this morning. But, according to the Feds, he lied about collateral to get a $74.9 million loan from Citibank. Then, he borrowed $100 million from HSBC with similar lies, immediately using $75 million to repay Citi. That’s on top of another $142 million owed to Bank of America, again apparently obtained fraudulently. HSBC recently filed suit.

So, where did the $292 million get him before being arrested? As we’ve noted, Nemazee was a powerful Democratic party fundraiser and donor. Now, politicians are racing to give that money to charity.

After the hearing today, Nemazee’s lawyer, Paul Shechtman, said his client’s campaign contributions were “modest and lawful…this is not a case about funelling money to candidates,” according to the WSJ.

But if the charges are true, the money helped buy him some pretty nice stuff. “For more than 10 years, Hassan Nemazee projected the illusion of wealth, stealing more than $290 million so that he could lead a lavish lifestyle and play the part of heavyweight political fundraiser,” Preet Bharara, the U.S. attorney in Manhattan, said in a statement in the WSJ.

See Hassan Nemazee’s luxury>>>

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title=”Park Ave. Apartment”
content=”$20 million New York City apartment

Nemazee is under house-arrest at the 14th floor co-op at 770 Park Avenue. It ain’t too shabby: he hosted a $28,500 per couple fund-raising dinner there in 2008.

As Cityfile reports, the apartment next door to Nemazee’s is for sale. Here’s a picture of Apt. 14B, probably a good indicator of what Nemazee’s digs look like.

Image: Cityfile via http://www.brownharrisstevens.com

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title=”Homes in Westchester, Rome”
content=”Millions more in real estate

There’s also an $8 million estate in Katonah, Westchester; two properties on Warren Street in downtown Manhattan; and an apartment in Rome, according to the Feds.

If a nearby Mt. Holly Road property pictured here is any indication, Nemazee’s Katonah neighborgood is pretty sweet.

Image: www.realtor.com
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permalink=”private-jet-3″
title=”Private Jet”
content=”2007 Cessna Model 680 Jet

Here’s a picture of the same model plane.

Image: www.airliners.net



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title=”Sports car”
content=”2008 Maserati Quattroporte

Here’s the same model; Nemazee’s is blue, according to the Feds.

Image: http://www.maserati.com
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title=”Yacht”
content=”Yacht

Nemazee reportedly purchased part of a yacht with the allegedly dirty money. We’re not sure what it looks like, but you can guess.”
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permalink=”see-also-6″
title=”See Also”
content=”Nemazee is innocent until proven guilty, but there’s plenty of dirty money in politics regardless. See our list of the most corrupt members of Congress.
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