It’s never good when a major fundraiser for your party is accused of corruption, particularly when it’s a big one like this.
By Grant McCool
Reuters
NEW YORK- A fund-raiser for Barack Obama, Hillary Clinton and other Democrats who was charged last week with defrauding Citigroup Inc (C.N) also defrauded other banks, U.S. prosecutors said.
The allegations against fund-raiser Hassan Nemazee — arrested last week on a bank fraud charge and released on $25 million bail — were not formal charges but were in a letter dated Tuesday from prosecutors to a Manhattan federal court magistrate judge handling the case.
Nemazee, 59, head of a private equity firm, was accused on Aug. 25 of one count of bank fraud for seeking a fraudulent $74 million loan from Citigroup’s banking unit. He said after his arrest that he had repaid the loan.
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