Fundraiser Nemazee Should Get More Than 19 Years, U.S. Prosecutors Say
Hassan Nemazee, a top political fundraiser for U.S. President Barack Obama and Secretary of State Hillary Clinton, should get more than 19 years in prison for his conviction on bank fraud charges, U.S. prosecutors said.
Nemazee pleaded guilty in federal court in Manhattan in March to defrauding Citigroup Inc., HSBC Holdings Plc and Bank of America Corp. out of millions of dollars in March. After he was arrested in August, prosecutors said he cheated the banks out of $292 million. He is scheduled to be sentenced June 30.