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Fundraiser Nemazee Sentenced to 12 Years for Defrauding Banks

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July 15 (Bloomberg) -- Hassan Nemazee, a fundraiser for President Barack Obama and Secretary of State Hillary Clinton, was sentenced to 12 years in prison for cheating Citigroup Inc., HSBC Holdings Plc and Bank of America Corp. of $292 million.

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To contact the reporter on this story: David Glovin in New York at dglovin@bloomberg.net

To contact the editor responsible for this story: Charles Carter at ccarter12@bloomberg.net