Major Democrat Fundraiser Charged With Fraud

Democrats and fraud, perfect together. And in what should be considered a stunning development, the word Democrat actually appears in the Reuters headline.

The U.S. attorney in New York on Tuesday charged a New York investor and major Democratic fund-raiser with a $74 million scheme to defraud Citigroup Inc (C.N).

Hassan Nemazee, 59, was charged with one count of bank fraud, and faces up to 30 years in prison plus a fine. His lawyer Marc Mukasey, a former federal prosecutor, did not immediately return a call seeking comment.

Nemazee was a national finance chair of U.S. Secretary of State Hillary Clinton's 2008 presidential campaign, and a supporter of John Kerry's run for the White House in 2004.

He typically donates more than $100,000 annually to Democratic political candidates, including Senate Majority Leader Harry Reid and Senator Charles Schumer, and sits on the board of the Iranian American Political Action Committee .

Bill Clinton, when he was president, nominated Nemazee to be U.S. ambassador to Argentina.

Prosecutors said Nemazee, the chairman and chief executive of Nemazee Capital Corp, sought to induce Citigroup's banking unit to lend up to $74 million based on fraudulent and forged documents suggesting that he had hundreds of millions of dollars of accounts available as collateral.

They said Nemazee also provided Citigroup with fake references so that when the bank would try to confirm details about his accounts, it would actually be contacting him. The scheme lasted from December 2006 to this month, the prosecutors said.

Prosecutors said federal agents stopped him on Sunday at Newark Liberty International Airport as he prepared to board a flight to Rome, and that he repaid a more than $74 million loan to Citigroup the following day.

Sounds like he was going to abscond like another Clinton pal, Marc Rich.

Chuckie Schumer ought to be pleased to find out another of his major fundraisers now faces prison, just like his pal Bernie Madoff.

In addition to Nemazee and the now-imprisoned Norman Hsu, I wonder how many other criminal fundraisers were helping Hillary Clinton?

Here's a rundown of Democrats Nemazee contributed to: Also included are Democrat Senators Barbara Boxer, Joe Biden, Kirsten Gillibrand, Frank Lautenberg, Dick Durbin, Carl Levin, and Jay Rockefeller.

I'll wait with breathless anticipation for all of them to comment and offer to return his dirty money.

Michelle Malkin already has material for a new chapter of her best-selling book.