Hassan Nemazee

Pleads guilty to defrauding major banks in loan transactions in New York



Former Democratic Party fundraiser Hassan Nemazee leaves Manhattan Federal Court after pleading guilty to defrauding major banks in loan transactions in New York, March 18, 2010. Nemazee, once head of a private equity firm and an Iranian American Political Action Committee board member, admitted in Manhattan federal court to defrauding Bank of America Corp of more than $142 million, Citigroup Inc of $74.9 million and HSBC Holdings Plc of $74.9 million to pay his debt to Citigroup.

How Nemazee Used Harvard Degree Swindling Banks of $292 Million
By Kambiz Foroohar and David Glovin

March 22 (Bloomberg) -- On the evening of March 13, 2007, limousines lined up outside the Cipriani restaurant in Manhattan’s Chelsea neighborhood.

Inside, Hassan Nemazee, surrounded by New York’s deep- pocketed donors, was orchestrating one of the year’s major fundraisers for Hillary Clinton’s presidential bid. As guests dined on steak and beet salad, Nemazee introduced the senator and her husband, former President Bill Clinton.

Harvard-educated Nemazee, a scion of one of Iran’s wealthiest families, helped raise more than $500,000 that night.

Three years later, on March 18, Nemazee stood in a federal courthouse 2 miles (3 kilometers) away and confessed to a 12- year scheme to defraud banks of $292 million, Bloomberg Markets reports in its May issue. He faces up to 19 and a half years in prison after pleading guilty to three bank fraud charges and one wire fraud charge. He must report to jail on April 30 and will be sentenced on June 30.

“He certainly has had an extremely successful fraud up to now,” U.S. District Judge Sidney Stein said during the plea.

The man whom President Clinton had nominated to be U.S. ambassador to Argentina and who’d brought in at least $2.4 million over 15 years for Democratic luminaries, including President Barack Obama and Vice President Al Gore, was remorseful and somber.

“I’m deeply ashamed of my conduct,” Nemazee, 60, told the judge >>>

from KF
22-Mar-2010
Iranians of the Day | Photos
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fussygorilla

thanks for the info.

by fussygorilla on Tue Mar 23, 2010 03:43 AM PDT

thanks anyway but his family name in the past in Iran was indeed connected to corrupt practices making money. I guess it is in the genes of some people?

"being involved in anything Iranian could've....nonsense" is another reflection of a group of people who readily sell out their own country to foreigners especially based on greed. This breed of Iranians, in my opinion, are despicable.

p.s. I am not referring to you here but to him and his types.


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persian_yingyang

fussygorilla, he has no connection to any movements in iran

by persian_yingyang on Tue Mar 23, 2010 01:56 AM PDT

dude this guy was only after his own interests.  he didn't get himself involved in anything iranian that could've jeopordized his status in US.  He was the campaign finance manager of hillary clinton at some point.  you wouldn't get yourslef in any iran matters if you occupied this type of position because it would have meant a visit from the secret service. and this guy tried everything to stay under the radar given the scam he was involved in.

so don't throw around accusations.


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fussygorilla

Life in Prison.

by fussygorilla on Mon Mar 22, 2010 11:54 PM PDT

Hopefully he will share his cell with Rafsanjani's son who has stolen millions and is in London (the city of his bosses).


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fussygorilla

Let's hear it now!

by fussygorilla on Mon Mar 22, 2010 11:52 PM PDT

O.K. "Greens" whose cause he financed. Let us hear what you have to say now.  He and his family in Iran swindled Iranian people to become multimillionairs during the shah period too.

P.S. Aren't Namazees Baha'i?


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persian_yingyang

idiot for taking his family on a ride

by persian_yingyang on Mon Mar 22, 2010 02:41 PM PDT

his kids were probably sitting, studying and working and thinking "we are set for life"  only to have their dad lose all his fortune and leaving them with nothing at all.

so sad and greedy of him.  Was mingling with top democrats more important than your family?  try and see who visits you in prison!

an idiot who felt invincible.  should have gone to iran when shit was piling up...instead now has to be in federal prison for minimum 10years and with zero balance in bank...

had he gone to iran..would have done max 2 yrs for whatever reason...and could have then gone to courts to retrieve his family's possession that were taken over by IRI.  So many families have won and got back their land and property.........and he would have lived his elder years in Iran relaxing instead of getting 23 hour lockdown in a federal prison.......


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I Have a Crush on Alex Trebek

Hopefully he can share a cell with Goldman Sachs

by I Have a Crush on Alex Trebek on Mon Mar 22, 2010 12:01 PM PDT

....probably not.


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