A wealthy New York investment banker who once raised large sums of money for Hillary Clinton and other top Democrats has been sentenced to 12 years in prison for bank fraud.
In exchange for a reduced sentence, Hassan Nemazee plead guilty to three counts of bank fraud and one count of wire fraud.
His scheme involved using proceeds from new loans to pay off old ones. In the process he created false account statements and even forged signatures.


by Stephan Tawney on July 15, 2010