HSBC sues accused Democratic fund-raiser in New York

Al-Reuters ^ | 09-18-2009 | Reporting by Grant McCool; Editing by Ted Kerr

[grey_whiskers]

NEW YORK (Reuters) - A fund-raiser for Barack Obama, Hillary Clinton and other Democrats who was charged last month with defrauding Citigroup Inc is being sued by HSBC for deceiving it into lending him $100 million.

The lawsuit filed in New York State Supreme Court in early September accused private equity firm head Hassan Nemazee, 59, of engaging in an elaborate scheme to make HSBC Bank USA believe that its loan was secured by collateral in the form of U.S. Treasury Notes when it was not.

[grey_whiskers]

Charging on one credit card, to pay off another, writ large.

Holy cow.

Cheers!

[Army Air Corps]

Ping!

[FlingWingFlyer]

DemocRATS! The Party of BIG Corruption.

[Army Air Corps]

Ping.

This is rather interesting.

[2banana]

Nemazee, who sits on the board of the Iranian American Political Action Committee, typically donates more than $100,000 annually to Democratic political candidates.

!!!!!!!!!!!!!!!!!!!!!!!!!

The dems are the PARTY of CORRUPTION.

[the anti-liberal]

This is why the Dems did not want a change of status quo in Iran.

[Army Air Corps]

The HSBC lawsuit, dated September 2, said that "to accomplish the fraud, Nemazee represented to HSBC that he had $89 million in Treasury Notes, with a current market value of more than $125 million, in a specified brokerage firm account; submitted a supposed agreement from the brokerage firm with forged signatures, false addresses, and false telephone numbers; used a mail drop; and submitted fabricated brokerage statements."

[Jet Jaguar]

Ping.

This is rather interesting

[Army Air Corps]

Ping!

[Libloather]

What is it with RATS and loot?

[skinkinthegrass]

What is it with RATS and loot?

their fav. movie: TAKE THE MONEY AND RUN

[grey_whiskers]

Iran? Democrats?

Cheers!

[Tainan]

Well...if you're going to do it...DO IT LARGE!

Of course, one should avoid getting caught afterwards. (or just don't do it at all)

[doug from upland]

They don’t care how they get the money. They get elected, take power, and will deal with it later. Typically, nothing happens to them so there is very little risk.

[MestaMachine]

What’s with rats, looters, and mooslimbs?

[dalebert]

100 million...thats huge

[hoosiermama]

FYI

[maggief]

http://nymag.com/news/politics/30634/

Obama at fund-raiser at Steven and Judy Gluckstern’s home, April 9, 2007. George Soros is seated to the right of the stairs.
(Photo: Michael Edwards)

The investment banker Robert Wolf first met Barack Obama one afternoon in December in a midtown conference room. Obama was in town to deliver a speech at a charity dinner for children in poverty at the Mandarin Oriental—but also to pursue another, less high-minded, but more momentous, objective: to begin the process of attempting to pick Hillary Clinton’s pocket.

The conference room belonged to George Soros, the billionaire bête noire of the right. After talking to Soros for an hour about his prospective bid for the White House, Obama walked down the hall and found assembled a dozen of the city’s heaviest-hitting Democratic fund-raisers: investment banker Hassan Nemazee, Wall Street power Blair Effron, private-equity hotshot Mark Gallogly, hedge-fund manager Orin Kramer. Most had been big-time John Kerry backers in 2004. Most had a connection to the Clintons. All were officially uncommitted for 2008.

(snip)

[Liz]

Obama campaigns for president.

"Ever hear of stimulus? When I--your Saviour--become
president, we will all get filthy rich with govt funds."

[stephenjohnbanker]

Not our Savior, our Spend-ior!