Posted on 08/25/2009 5:16:11 PM PDT by RobinMasters
August 25, 2009
Note: The following text is a quote:
http://newyork.fbi.gov/dojpressrel/pressrel09/nyfo082509.htm
Manhattan U.S. Attorney Charges Chairman and Chief Executive Officer of Nemazee Capital with Bank Fraud
Preet Bharara, the U.S. Attorney for the Southern District of New York, and Joseph M. Demarest, Jr., the Assistant Director-in-Charge of the New York Office of the FBI, announced the arrest this morning of Hassan Nemazee, the Chairman and Chief Executive Officer of Nemazee Capital Corporation, in connection with a scheme to defraud Citibank, N.A. (Citibank).
According to the complaint filed in Manhattan federal court, Nemazee engaged in a fraudulent scheme to induce Citibank to lend up to $74 million to Nemazee based on false representations that Nemazee owned millions of dollars in collateral. Nemazee submitted, and caused to be submitted to Citibank numerous documents that purported to establish the existence of accounts in Nemazee’s name at various financial institutions containing many hundreds of millions of dollars. In fact, those were fraudulent and forged documents.
Specifically, the various accounts referenced in the fraudulent documents that Nemazee submitted, and caused to be submitted to Citibank either never existed or had been closed years before he submitted the documents referencing those accounts. Furthermore, on many of the documents at issue, Nemazee falsely provided as the address and telephone numbers of various financial institutions purportedly vouching for his financial strength an address and telephone number that was, in fact, controlled by Nemazee. As a result, in the event anyone at Citibank made an effort to confirm the existence of the assets reflected on the fraudulent documents submitted by Nemazee, they would in fact be contacting a telephone number assigned to Nemazee himself, and not any financial institution.
On Aug. 23, 2009, federal agents interviewed Nemazee at Newark Liberty International Airport as he was in the process of checking in for a flight to Rome. On Aug. 24, 2009, Nemazee repaid to Citibank his outstanding loan, an amount in excess of $74 million.
Nemazee, 59, currently resides in Manhattan and Katonah, N.Y. He is charged with one count of bank fraud, which carries a maximum prison term of 30 years and a maximum fine of $1,000,000 or twice the gain or loss resulting from the crime.
Nemazee is expected to be presented later today in Manhattan federal court before U.S. Magistrate Judge Ronald L. Ellis.
Mr. Bharara praised the investigative work of the FBI. Mr. Bharara said that the investigation is continuing.
Assistant U.S. Attorneys John M. Hillebrecht and Daniel W. Levy are in charge of the prosecution.
The charge and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
It worked this way: Through a family connection with the wealthy Cisneros clan of Venezuela, Nemazee obtained a passport from Venezuela but lived there just a few months. That was evidently enough for him to call himself Hispanic. On another occasion, when his status as a minority money manager was challenged in New York, he claimed to be Asian-Indian because his father was born in Bombay.
—————http://www.forbes.com/forbes/1999/0503/6309142a_print.html
Nothing like history and archives.
Thanks piasa.
A Dem operative arrested? I’m sure it’s all a mistake and Hitlery and Zero will make life miserable for those responsible for the arrest. In the end, this guy will skate. The only question is whether prosecutors will just drop the case or law enforcement will “accidentally” screw it up a la Wen Ho Lee, forcing the case to be dropped.
nothing to see here move along. the clintoons have a bank account with china/saudi money in it.
Holder says we can threaten voters but not terrorists!
+++++++++++++++
What Holder’s done so far, is a great miscarriage of justice. Will this nation allow it? We shall see.
Other low key happenings...
http://mypetjawa.mu.nu/archives/198595.php
That along with the RC Soles scandal/home shooting and the dem who blew up the lawyer.
Hassan Nemazee, a multimillionaire Iranian-American investment banker and top Democratic Party fundraiser, was arrested today by federal law enforcement authorities in New York City and charged with engaging in criminal fraud for his role in arranging a $74 million dollar loan from Citibank
low-key BUMP
Now WHY does that not surprise me???
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