Hassan Nemazee has raised millions for Democratic candidates, including Bill and Hillary Clinton and Barack Obama, and for the Democratic Senatorial Campaign Committee. He was arrested Tuesday for allegedly using bogus documents and phone numbers to try to sucker Citibank out of $74 million.

Somehow Citibank was able to resist the catnip allure of a bad loan and cooperate with authorities. — PS

New York Times:

A wealthy New York investor and prominent Democratic Party fund-raiser with ties to President Obama and Hillary Rodham Clinton was arrested on Tuesday and accused of lying about his assets to obtain a $74 million loan from Citibank.

The investor, Hassan Nemazee, a former national finance chairman for Mrs. Clinton, orchestrated the fraud by using forged documents showing that he held accounts with collateral worth hundreds of millions of dollars, a federal complaint charged.

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