Major Democratic fundraiser charged with fraud

The national finance chair for Hillary Clinton's 2008 run allegedly swindled $74 million from Citigroup

Published August 25, 2009 6:26PM (EDT)

Hassan Nemazee usually gives more than $100,000 every year to Democratic candidates. That probably won't be happening for the 2010 cycle, now that he's been charged in what federal prosecutors say was a scheme to defraud Citigroup of some $74 million.

Nemazee, who served as a national finance chair for Hillary Clinton's 2008 presidential campaign and was nominated to be ambassador to Argentina by then-President Bill Clinton, has been hit with one count of bank fraud.

He reportedly faces up to 30 years in prison and a fine if convicted. Nemazee has some high-powered legal help on his side, though -- former Attorney General Michael Mukasey is his lawyer.

By Alex Koppelman

Alex Koppelman is a staff writer for Salon.

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