New York financier Hassan Nemazee was arrested yesterday by federal authorities for having falsified hundreds of millions in financial holdings in order to obtain a $74 million loan from Citibank. Nemazee was a high-rolling donor to Bill and Hillary Clinton and various Democratic causes, having contributed over $450,000 in total to the party line. He faked his finances by giving Citibank “phone numbers and addresses of various financial institutions that would purportedly vouch for his financial strength, but the numbers were controlled by him,” according to the complaint against him. Which makes it surprising that, less than one day after FBI agents detained him at Newark Airport, he was able to come up with the $74 million, in cash, to pay Citibank back. [NYT]
