Former Obama fundraiser arrested, accused of $74M fraud

08/26/2009 | Bloomberg

Once a political fundraiser for U.S. President Barack Obama and Secretary of State Hillary Clinton, Hassan Nemazee was charged with bank fraud in connection with $74 million in loans he allegedly received from Citigroup. Prosecutors said Nemazee used fake documents to convince Citibank that he had hundreds of millions of dollars in collateral to secure the loans.

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