Hassan Nemazee, Fundraiser for President Barack Obama, Hillary Clinton, Arrested for Trying to Defraud Citibank of $74 Million

Hassan Nemazee, the chairman and chief executive of Nemazee Capital Corp., and a fundraiser for both President Barack Obama and Secretary of State Hillary Clinton, has been arrested for trying to defraud Citigroup Inc.'s Citibank of $74 million. He allegedly submitted false documents showing that he held accounts in his name containing millions of dollars. The charge carries a maximum prison term of 30 years.

Nemazee also served as national finance chairman for the DSCC when it was headed by Sen. Chuck Schumer. According to the NY Daily News, he has reportedly maxed out in contributions to both Schumer and Sen. Kirsten Gillibrand, giving them a total of $4,800 each (two $2,400 checks to Schumer in April - one for the primary, one for the general - and two of the same amount to Gillibrand in June). He also gave Gillibrand $1,000 in 2005 and another $1,000 in 2006. He gave two $2,000 donations to Rep. Carolyn Maloney in 2005. There was also $151,700 to the DSCC between March 2006 and March 2009, according to the NY Daily News.

It's amazing that Hillary Clinton's name is mentioned because she was also linked to another criminal, Norman Hsu, who was one of her biggest donors.

Photo credit:  Hassan Nemazee, NY Times.