Embarrassment

Dem Donor Pleads Guilty to Fraud

Big-time businessman Hassan Nemazee took “full responsibility” in Federal District Court in Manhattan Thursday for a $272-million Ponzi scheme he ran from 1998 to 2009. Nemazee is well-known in top-tier Democratic fundraising circles for his donations to Obama, the Clintons, Kerry, and other causes. “I am deeply ashamed of my conduct,” the 60-year-old former CEO of Nemazee Capital said as he pleaded guilty to wire fraud and bank fraud. Nemazee’s fraud was based on soliciting multi-million dollar loans from Bank of America, Citibank, and HSBC for real estate transactions in Westchester County, NY.