* New U.S. charges against Democratic Party fund-raiser
* Accused of defrauding three banks
By Grant McCool
NEW YORK, Sept 21 Hassan Nemazee, a fund-raiser
for Barack Obama, Hillary Clinton and other Democrats, has been
indicted for defrauding Bank of America (BAC.N), HSBC (HSBA.L)
and Citigroup Inc (C.N) out of more than $290 million in loan
proceeds, U.S. prosecutors said on Monday.
The announcement follows last month's indictment of
Nemazee, head of a private equity firm and an Iranian American
Political Action Committee board member, on one count of
defrauding Citigroup's Citibank.
The new indictment adds allegations that he defrauded the
two other banks.
Nemazee, 59, typically donates more than $100,000 annually
to Democratic political candidates. He is listed as one of the
top "bundlers" of contributions to Obama's 2008 presidential
campaign, according to OpenSecrets,org, a website run by the
Center for Responsive Politics research group.
"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 part of heavyweight
political fundraiser," United States Attorney Preet Bharara in
Manhattan said in a statement.
Nemazee was arrested at Newark Liberty International
Airport in New Jersey on Aug. 23 as he was checking in for a
flight to Italy, according to court papers. He was released on
If convicted, Nemazee faces up to 30 years in prison and
millions of dollars in fines.
His lawyer could not immediately be reached for comment.
The case is: U.S. v. Nemazee, 09-mj-1927 in U.S. District
Court for the Southern District of New York (Manhattan)
(Reporting by Grant McCool, editing by Leslie Gevirtz)