Democratic donor Hassan Nemazee has been indicted for running a “$292 million Ponzi scheme,” federal prosecutors announced yesterday.
Nemazee, who raised big bucks for President Obama and Hillary Rodham Clinton last year, defrauded Citibank, Bank of America and HSBC by using forged documents to obtain loans, the feds said. The alleged scam lasted from 1998 until his arrest in August.
“For more than 10 years, Hassan Nemazee projected the illusion of wealth, stealing more than $290 million so that he could lead a lavish lifestyle and play the role of a political fund-raiser,” US Attorney Preet Bharara said.
Nemazee, 59, is under house arrest in Manhattan as part of a $25 million bail package.