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Thursday, September 24, 2009

Another Day, Another Democrat Corruption Scandal

From ACORN to Wall Street, the US Democratic Party runs on corruption and laundered money.

From Reuters

Hassan Nemazee, a fund-raiser for Barack Obama, Hillary Clinton and other Democrats, has been indicted for defrauding Bank of America, HSBC and Citigroup Inc 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 two other banks, Bank of America and HSBC Bank USA, in a similar fashion by falsifying documents and signatures to purportedly show he had hundreds of millions worth of collateral.

The office of the U.S. Attorney in Manhattan and the FBI said he used the proceeds of his scheme to make donations to election campaigns of federal, state and local candidates, donations to political action committees and charities...

As of August 2009 Nemazee owed Bank of America about $142 million and owed Citibank about $74.9 million, the indictment said. He drew on a line of credit he fraudulently obtained from HSBC to pay the Citibank loan.

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, a website run by the Center for Responsive Politics research group.

In 2004, Nemazee was a major financial supporter of John Kerry and was later the national finance chairman of the Democratic Senatorial Campaign Committee.

With Nemazee as the national finance chair, New York Senator's Chuck Schumer's Democratic Senate Campaign Committee in 2006 raised $115 million, significantly helping the Democrats to take control of the Senate

Nemazee served as Finance Chairman to Hillary Clinton's 2007-08 presidential campaign and he also donated the maximum $50,000 (the maximum amount) to Barack Obama's Presidential Inaugural Committee


Blogger I R A Darth Aggie said...

The poor fellow needs a bailout...

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