Breaking news from Reuters:
Reuters: Prosecutors said Hassan Nemazee, the chairman and chief executive of Nemazee Capital Corp, sought to induce Citigroup’s banking unit to lend up to $74 million based on fraudulent and forged documents suggesting that he had hundreds of millions of dollars of accounts that could be used as collateral.
They said federal agents stopped Nemazee, 59, on Sunday at Newark Liberty International Airport as he prepared to board a flight to Rome, and the following day he repaid his more than $74 million loan to Citigroup.
Nemazee was charged with one count of bank fraud, and faces up to 30 years in prison plus a fine. Prosecutors said he has homes in Manhattan and Katonah, New York.
A Democratic booster, Nemazee raised money for Hillary Clinton and John Kerry. According to a bio at the Council on Foreign Relations website, Nemazee’s “international investment experience spans three decades across several industries and countries. Mr. Nemazee is involved with several corporate and international organisations, and remains active in many philanthropic causes and charities worldwide. He is a graduate of Harvard University.”
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