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Big Dem Donor Nemazee Indicted In Alleged $292 Million Scheme

Newscom / l52

Last month, as we reported, Nemazee was charged with fraudulently applying for a loan of over $74 million from Citigroup. Prosecutors alluded to the wider alleged fraud in subsequent court documents, but had not until now claimed that Nemazee used the money to fund political causes. Nor had they referred to the alleged fraud as a Ponzi scheme.

Nemazee, 59, was Hillary Clinton's finance chair during her 2008 presidential run. He then became a top bundler for Barack Obama's campaign. He has also been a prolific contributor to Democrats himself.

A call to Nemazee's lawyer, Marc Mukasey, was not immediately returned.

More details to come...