Obama, Clinton Money Man Guilty Of Major Fraud Scheme

Judicial Watch ^ | 03/19/2010

[Conservative Coulter Fan]

The shady Iranian fundraiser who for years donated lucrative sums to top Democrats—including the president, vice president and secretary of state—has pleaded guilty to a major bank-fraud scheme that could land him in jail for nearly two decades.

Disgraced Democratic money man Hassan Nemazee admitted this week that he defrauded three financial institutions out of nearly $300 million in loan proceeds by falsifying documents and signatures to show he had hundreds of millions of dollars worth of collateral. The Ivy League-educated crook then used the proceeds to donate big bucks to the campaigns of federal, state and local candidates.

Among them are some of the nation’s best known and most powerful Democrats, including Secretary of State and former New York Senator Hillary Clinton, President Barack Obama and Vice President Joe Biden. Nemazee was actually the national finance chairman of Clinton’s failed 2008 presidential campaign as well as John Kerry’s in 2004.

The corrupt “investment banker” went on to raise more than half a million dollars for Obama after Clinton’s primary defeat and donated the maximum ($50,000) allowed to the new president’s inauguration committee. Less than a year ago Nemazee hosted a $28,500-a-head fundraiser for Obama in his luxurious Upper East Side New York penthouse.

When Nemazee was criminally charged last fall, top Democrats scrambled to return his tainted money and there is plenty floating around the coffers of the party’s elite. For nearly a decade Nemazee was a key figure in Democratic fundraising circles, donating and gathering hundreds of thousands of dollars. Nemazee was so well-connected that in the late 1990s Bill Clinton nominated him to be a U.S. ambassador in Argentina though the position never materialized.

Another top Democratic fundraiser, admitted Chinese swindler Norman Hsu, is in jail for fraud. Hsu raised nearly $1 million for Hillary Clinton’s presidential campaign and substantial sums for party leaders like New Mexico Governor Bill Richardson and California Senator Dianne Feinstein. Clinton was so tight with Hsu that a voicemail recording of her praising Hsu was presented as evidence in federal court. In it she repeatedly thanks Hsu for his support and tells the one-time fugitive she’s never seen anybody who has been more loyal and more effective.

[Jersey Republican Biker Chick]

WHY AM I NOT SURPRISED....PING!!!

[ronnyquest]

"Obama, Clinton Money Man Guilty Of Major Fraud Scheme"

Shocker.

[tflabo]

And Obama blasted the SCOTUS for allowing Corporations to contribute to candidates? How much illegal $$ was pumped into his campaign.

[hal ogen]

More than we will ever know. Remember all those unnecessary-to-report small “donations” that came from millions on the internet?

[Danae]

Hypocrisy, its what Obama eats for breakfast, lunch and dinner!

[Walkingfeather]

It would seem that the democratic conviction prevention insurance program needs some reform.

[lmr]

ping.

[nw_arizona_granny]

Ping.

[piasa]

SEPTEMBER 21, 2009 Monday : (NY : HASSAN NEMAZEE HAS BEEN INDICTED) NEW YORK (Reuters) - 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.
The announcement follows last month’s indictment of Nemazee, head of a private equity firm and an Iranian American Political Action Committee board member, on one count of defrauding Citigroup’s Citibank.
The new indictment adds allegations that he defrauded two other banks, Bank of America and HSBC Bank USA, in a similar fashion by falsifying documents and signatures to purportedly show he had hundreds of millions worth of collateral.
(Excerpt) Read more at reuters.com ...
-————— “U.S. charges Obama fund-raiser in $290 million fraud,” Reuters, by Grant McCool
Posted on Monday, September 21, 2009 7:25:18 PM by South40

[piasa]

SEPTEMBER 23, 2009 WED : (REPORT : DEMOCRAT FUNDRAISER NEMAZEE PLEADS ‘NOT GUILTY’ -—See HIS BROTHER-IN-LAW KASHANCHI, BANK FRAUD, CITIBANK, BANK OF AMERICA, HSBC, IRAN, HILLARY CLINTON, OBAMA, JOHN KERRY) Many of the fake documents used by a leading Democratic Party fund-raiser to defraud HSBC and Citigroup Inc were made by his brother-in-law, U.S. prosecutors said on Friday. Authorities arrested and charged Shahin Kashanchi, brother-in-law of indicted fund-raiser Hassan Nemazee, who donated to the presidential campaigns of Barack Obama, Hillary Clinton and other leading Democrats over the years.
Nemazee pleaded not guilty on Wednesday in Manhattan federal court to defrauding a total of three banks — Bank of America was the other — out of $292 million in loan proceeds.
“Based on e-mail traffic between Kashanchi and Nemazee, Kashanchi was regularly producing what Kashanchi referred to as the ‘normal quarterly statements’ for one of the non-existent collateral accounts, among other things,” the office of the U.S. Attorney in New York and the FBI said in a statement.
“Kashanchi would simply create phony account statements designed to look like real account statements, but bearing account numbers for accounts that did not exist and reflecting balances that purported to establish Nemazee’s great wealth.”
(Excerpt) Read more at nytimes.com ...—————U.S. Charges Accomplice Of Democratic Fund - Raiser (Worth saying again “Democratic Fund - Raiser”) ny times ^ | 9/25/2009 | reuters Posted on Friday, September 25, 2009 5:12:29 PM by tobyhill

[piasa]

FEBRUARY 25, 2008 : (SYRIA : PRESIDENTIAL CANDIDATES : OBAMA & CLINTON ADVISORS ZBIGNIEW BRZEZINSKI & HASSAN NEMAZEE {See IRAN} ARE IN SYRIA --See DENIAL, DENIAL, DENIAL, CFR, IAPAC, ROGUE DIPLOMACY) What in the world are advisers to both Senators Obama and Clinton doing in Syria in the middle of a presidential campaign — and why are the two campaigns so unforthcoming about the details of the visits?
The same week that a terrorist mastermind harbored by the Baathist regime in Damascus was assassinated by a car bomb, both one of Mr. Obama’s foreign policy counselors, Zbigniew Brzezinski, a long-time critic of Israel, and one of Mrs. Clinton’s national finance chairs, Hassan Nemazee [after June 2008 a massive donor to Obama], were meeting with President Assad.
...the Obama campaign... [when asked] what it had to say about its adviser’s doings in Syria... said it was the first they had heard about it. Mr. Nemazee’s office would not say anything about the trip, nor would Mrs. Clinton’s campaign.
-------- "Zbigniew Brzezinski’s and Hassan Nemazee’s “campaign” trip to Syria," New York Sun 2/15/2008... ‘Realism’ in Syria http://www.nysun.com/editorials/realism-in-syria/71373/ 74 posted on Tuesday, September 22, 2009 12:33:35 PM by thouworm

[piasa]

...So is he just a zealous Democratic Party supporter with deep pockets?
Not quite. This may be the part Goodman [Amy Goodman of the Marxist Democracy Now! network] was reluctant to talk about. Nemazee, you see, has a dark secret: he’s a terrorist sympathizer.
Nemazee is a Board of Trustees member with the Asia Society, an organization sympathetic to the oppressive, terrorism-sponsoring Islamic fundamentalist regime of Iran. The Asia Society has gone on record as “recommending that the United States declare an end to President Bush’s ‘war on terror’ and negotiate with Taliban members willing to separate from Al Qaeda.”
He was a past board member of the American-Iranian Council, a U.S. lobbying group that has consistently supported lifting U.S. sanctions on Iran and accommodating the Tehran regime.
He is also a founding board member of the Iranian American Political Action Committee [IAPAC], which seeks to create friendly and lucrative business relationships with the Iranian theocracy ruling that country.
Nemazee, whose bail has been set at $25 million (secured by his $20 million New York City Apartment), faces a maximum prison term of 30 years.
Now that the Democrats–who have been the major recipients of Nemazee’s largesse–are running the show, it should be interesting to watch this saga play out.
------------- "Hassan Nemazee: Terrorist Sympathizer; Arrested Democratic Fundraiser’s Pro-Taliban, Pro-Iran Agenda," From David Horowitz NEWSREAL:2009 August 27, http://newsrealblog.com/2009/08/27/arrested-democratic-fundraisers-other-agenda/ 73 posted on Tuesday, September 22, 2009 12:06:06 PM by thouworm | To 72

[piasa]

.

[piasa]

“$292 million in forfeiture in the case.” The indictment also seeks $292 million in forfeiture against Nemazee. In addition, the indictment identifies Nemazee’s interest in the following assets as subject to forfeiture: five real properties, 16 corporate entities and one hedge fund, 14 securities accounts, 32 bank accounts, a 2008 Maserati Quattroporte, and a 2007 Cessna aircraft. “For more than ten 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,” said U.S. Attorney Preet Bharara who is, ironically, a former top aide of another major recipient of Nemazee’s lucre, Senator Chuck Schumer. “Today’s indictment exposes the sheer brazenness of Nemazee’s schemes and marks the end of his decade of deception.” ---------http://www.politico.com/blogs/bensmith/0909/Feds_Clinton_donor_made_contributions_from_Ponzi_scheme_proceeds.html

[TChris]

I'm truly shocked and dismayed.

He ran in such honorable circles and all.

[piasa]

1995 - FEBRUARY 2002 : (CHUCK SCHUMER ACCEPTS $386,000 FROM THE “ACCOUNTING INDUSTRY” IN THIS PERIOD-—— See ACCOUNTING FIRM ARTHUR ANDERSEN) Schumer has taken $386,000 from the accounting industry since 1995, according to the Center for Responsive Politics.
—————”Chuck Had Gone To Bat for Backer (ENRON),” New York Daily News ^ | 2/04/02 | KENNETH R. BAZINET

[piasa]

2000 : (SEC CHAIRMAN ARTHUR LEVITT PROPOSES AN SEC RULE THAT WOULD PREVENT CONFLICT OF INTEREST BY BARRING ACCOUNTANTS FROM ALSO ACTING AS CONSULTANTS; THE ACCOUNTING INDUSTRY GETS 46 CONGRESSMEN TO PRESSURE LEVITT TO BACK OFF — AMONG THEM : CHUCK SCHUMER, R TORRICELLI—— See ACCOUNTING FIRM ARTHUR ANDERSEN {See ENRON}) In 2000, Arthur Levitt, who was then chairman of the Securities and Exchange Commission, spotted a potential conflict of interest brewing in the accounting industry. The “Big Five” accounting firms (Arthur Andersen, Deloitte & Touche, Ernst & Young, KPMG and PricewaterhouseCoopers) had managed to increase their income by offering consulting services to the same companies they audited. Levitt, concerned that the firms would compromise their credibility when they had to audit their own services, proposed an SEC rule that would bar accountants from also acting as consultants. But when the accounting industry heard about the rule, Levitt became the target of what he later called an “intensive and venal lobbying campaign.” The accounting industry got 46 members of Congress to call or write personal letters to Levitt questioning the proposed rule. Some lawmakers reportedly threatened to withdraw funding from the SEC. Withering under the assault, the SEC eventually curtailed Levitt’s proposal.
Among the Senators who wrote such letters to Levitt include:
Sen. Charles Schumer (D-N.Y.); and Sen. Robert Torricelli (D-N.J.). Schumer is the top recipient of money from the industry, taking in more than $57,000. -————Accounting Industry ~ written by Open Secrets.org

[piasa]

Two staffers on a Democratic political committee headed by Sen. Chuck Schumer are being investigated by the FBI for an alleged dirty trick — getting a Republican candidate’s credit report illegally, officials confirmed yesterday. “We are investigating the matter jointly with the FBI,” said a spokeswoman for the U.S. Attorney’s office in Washington.
Phil Singer, a spokesman for the Schumer-headed Democratic Senatorial Campaign Committee, said two staffers were instantly suspended — with pay — in July after admitting they obtained the credit report of Maryland Lt. Gov. Michael Steele, who is running for Senate.———http://www.nypost.com/news/nationalnews/28399.htm

[piasa]

MAY 2008 : (NY DEMOCRAT CHUCK SCHUMER LEAKS SUPPOSED “INSIDER INFO” THAT THE MORTGAGE COMPANY INDYMAC WAS IN DIRE STRAIGHTS; THIS GETS THE BALL ROLLING FOR A “BANK RUN” THAT PRECIPITATES THE FALL OF INDYMAC AND IS LATER CREDITED AS BEING THE INITIAL TRIGGER THAT PROMPTS THE DEC 08/JAN09 MORTGAGE CRISIS—See COUNTRYWIDE MORTGAGE CO, FANNIE MAE, FREDDIE MAC , CHUCK SCHUMER, SOROS) The FDIC has just [in JAN 2009] announced that a consortium of private equity and hedge fund firms would be buying IndyMac. IndyMac was an independent “bridge bank” spun off of Countrywide Mortgage in the late 90s.  IndyMac acted as a “bridge bank” to Fannie Mae and Freddie Mac.
New York Democrat Charles  Shumer precipitated the fall of IndyMac in May of 2008 by releasing “inside” information that the mortgage company was in dire financial straits. This disclosure created the initial “bank run” that is credited by many economists as the initial trigger that prompted the current mortgage crisis.
The FDIC took over the operations of IndyMac in late summer of 2008.
.-—————Look Who’s Buying IndyMac BY Larry Johnson, American Thinker JAN 2009