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Major Democrat Fundraiser Gets 12 Years

From the St. Louis Post-Dispatch:

Fraud gets ex-Obama, Clinton fundraiser 12 years

By LARRY NEUMEISTER | Posted: Thursday, July 15, 2010

A wealthy Manhattan investment banker and former top Democratic fundraiser was sentenced Thursday to 12 years in prison for defrauding banks of $292 million, some of which he donated to politicians including Barack Obama, Hillary Rodham Clinton and Al Gore.

Hassan Nemazee, 60, had reached a plea deal in March, admitting that he cheated banks out of the money and pleading guilty to three counts of bank fraud and one count of wire fraud. U.S. District Judge Sidney Stein in Manhattan said he’ll get out of prison in about a decade.

Nemazee was the national finance chairman of Clinton’s 2008 presidential campaign; he also raised money for Obama and a long list of other prominent Democrats. He was Sen. John Kerry’s New York finance chairman during his failed 2004 presidential run.

Prosecutors said he used some of the proceeds from his crimes to make personal donations to election campaigns, to make charitable donations and to live a lavish lifestyle that included apartments in Italy and Manhattan, partial interest in a private plane and a luxury yacht.

Stein said he showed leniency to Nemazee in part because of "his involvement in American political life." If the judge had followed federal sentencing guidelines, Nemazee would have received at least another three years in prison and as many as 19 1/2 years.

Huh? The judge reduced Mr. Nemazee’s sentence because he gave a lot of money to Democrat candidates? Is this yet another money-raising scheme by the DNC?

Oh, by the way, Mr. Stein was appointed to the United States District Court for the Southern District of New York by President Bill Clinton on January 11, 1995. Of course there is no way that had any bearing on his cutting the possible sentence practically in half.

Prosecutors said Nemazee used fake collateral starting in 1998 and continuing for more than a decade in order to obtain large loans from major banks. The judge ordered him to pay $292 million in restitution.

An indictment said he forged signatures, concocted bogus account statements and established "virtual offices" to conceal a scam. It said he used proceeds from new loans to pay off older ones – a maneuver prosecutors called a Ponzi scheme.

Well, Mr. Nemazee certainly sounds like a Democrat.

In 1999, President Bill Clinton nominated Nemazee to be U.S. ambassador to Argentina, but the Senate never confirmed the appointment, in part because of concerns about Nemazee’s business dealings

Prosecutors said he unsuccessfully tried to capitalize on his standing and reputation in political circles by seeking nomination to a Cabinet-level position last year.

In a letter submitted to the judge this week, the government said Nemazee had made more than $845,000 in donations to [Democrat] political candidates and [the Democrat party]…

The government said it sent letters after Nemazee’s guilty plea to 115 recipients of charitable and political donations requesting that the recipients return the proceeds to the government…

Money already forfeited includes $167,463 from the Council on Foreign Relations, $100,543 from Harvard University and $50,000 from the Presidential Inaugural Committee, the government said.

The letter said Friends of Hillary had pledged to return $8,200 and Hillary Clinton for President promised to return $11,500, in addition to $11,500 it returned to Nemazee in August 2008. It said the William J. Clinton Foundation had agreed to forfeit $53,000, though the government has agreed that another $100,000 in donations does not need to be forfeited.

Man, it sure is handy to have your own judges, isn’t it Mr. Clinton?

The letter said Obama for America had agreed to return the full $13,800 it had received, even though it had already donated $4,600 of funds received from Nemazee to charities after his arrest. It said John Kerry for Senate pledged to return $4,600, and John Kerry for President said it would return $5,000, in addition to $2,000 being returned by the Kerry Committee.

Also included in funds the government agrees no longer needs to be forfeited was $50,000 Nemazee donated to the Gore-Lieberman Recount Committee in 2000, $9,200 by Biden For President Inc. and $2,000 by Edwards for President.

Nemazee, an Iranian-American, was ordered to begin his sentence by the afternoon of Aug. 27…

Gee, why was this story put out late on a Friday evening? And why has it gotten so little play in our (out of the) mainstream press?

These are rhetorical questions, of course. After all, Mr. Nemazee is no Jack Abramoff.

He wasn’t so criminal as to give money to both Democrats and Republicans.

This article was posted by Steve on Friday, July 16th, 2010. Comments are currently closed.

6 Responses to “Major Democrat Fundraiser Gets 12 Years”

  1. proreason says:

    He must have threatened the judges daughters with a chain saw to get 12 years.

    But like the terrorist enabler, he will go to on of the country club prisons designed and built for democrats who periodically are chastized in show trials, and in 6 months, he’ll have his hand in the till again.

    • Liberals Demise says:

      “He must have threatened the judges daughters with a chain saw to get 12 years.”
      Not quite so there pro.
      Hillary just put her index finger to the side of her nose in the presence of the judge.

      Who wants the game ball?

  2. untrainable says:

    6 months? The way Holder runs Justice, this guy will never see the inside of a cell. His next appeal will get him an ankle bracelet, and the next one will have him back in DC rubbing elbows with all the other criminals. If you think the Obie Regime will let a valuable resource like a lying, cheating, liberal, Iranian American, who can pull that much cash out of his a$$ when they need it, sit in a jail cell… you’ve been drinking that Koolaide again haven’t you? STOP!

  3. DANEgerus says:

    It turns out that even now nobody cares that the man was a foreign agent… Hassan Nemazee is going down in flames for financial fraud. Can anyone say “Culture of Corruption”? Certainly not CNN as they are unwilling to even admit that he was a career (D)emocrat buying influence for the Iranian regime for decades.

    Why is no one suggesting the (D)emocrats pay the money back to the American tax-payer?

  4. BigOil says:

    “It said he used proceeds from new loans to pay off older ones – a maneuver prosecutors called a Ponzi scheme.”

    What’s wrong with this? GM did the same thing – and bragged about it.

    • Liberals Demise says:

      I guess Bernie Madoff wasn’t a (D)emocrat or maybe he was too selfish with ‘his’ money.
      (sarc on the ‘his’ money part)

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