Friday, March 19, 2010

Obama/Clinton Bundler Pleads Guilty To Bank Fraud

Borrowed from PI Bill Warner

A little bit of good news, to temper the blow from the last post. From Reuters:
A wealthy businessman who raised money for leading Democratic Party politicians, including Barack Obama and Hillary Clinton, pleaded guilty on Thursday to defrauding three major banks out of $292.2 million in loan transactions.

Hassan Nemazee, 60, who once ran a private equity firm, 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.


Nemazee was listed as one of the top "bundlers" of contributions to Obama's 2008 presidential campaign, according to, a website run by the Center for Responsive Politics.

He typically donated more than $100,000 annually to Democratic Party political candidates, including Obama and now-U.S. Secretary of State Hillary Clinton.

The Democratic National Committee declined to comment, but an official said it had been previously announced that the affected donations would go to charity.
I am completely shocked... No really, this is my shocked face. Clinton just can't catch a break, can she? First there was Norman Hsu, and now Nemazee... What's next?

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