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.
Who is Hassan Nemazee?
Nemazee, 59, typically donates more than $100,000 annually to Democratic political candidates. He is listed as one of the top "bundlers" of contributions to Obama's 2008 presidential campaign, according to OpenSecrets.org, a website run by the Center for Responsive Politics research group.
"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," United States Attorney Preet Bharara in Manhattan said in a statement.