A top Democratic money man for Hillary Clinton’s failed presidential run was yesterday tossed in jail for 12 years for bank fraud.
Hassan Nemazee, 60, the finance chair for Clinton’s campaign, pleaded guilty in March to a $292 million ponzi swindle.
The investment banker was facing more than 19 years but Manhattan Federal Judge Sidney Stein cut him a break – even going lower than the 15½ years recommended by sentencing guidelines – citing the “good attributes of Mr. Nemazee.”
“You’ve done a lot of good in your life,” Stein said. “You’ve been extremely charitable, even before this fraud.”
But the judge said he was dumbfounded why Nemazee, who was at the “apex” of Iranian-American society, risked it all for a scam that was “breathtaking in its brazenness and its scope.”
“The ‘how’ is simple: the most simplistic, brazen, almost certain to fail scheme that was afoot,” Stein said. “But nobody could say ‘why.'” Nemazee said he, too, had no good explanation.
“I have spent countless hours trying to understand why and how I came to cross the line: pride, ego, arrogance, self image, self-importance. All were among the reasons I traveled down this destructive path,” he said.
“I’m guilty of these crimes. I’m also guilty of hypocrisy,” he said, standing next to his lawyer, Paul Shechtman, and just feet from his weeping wife and kids in the Manhattan federal courtroom.
He had pleaded guilty to one count of wire fraud and three of bank fraud for the millions he borrowed from Bank of America, HSBC, and Citibank.
He used the money buy a yacht, fill the coffers of his favorite pols and charities, and even buy 100 acres in Italy.
When his investments failed, he found himself unable to pay back the loans. He used money from one to pay off another but eventually his ponzi shenanigans were uncovered.
Nemazee’s ties to the Clintons and other top Dems go back years. He was nominated by former President Bill Clinton to be ambassador to Argentina – but the appointment was never approved when questions about his business dealings came up.
He also was one of John Kerry’s top fund-raisers in his 2004 presidential campaign and helped President Obama raise money once Clinton lost the Democratice primary.
“In the end, justice is blind to political affiliations and powerful connections,” said U.S. Attorney Preet Bharara. “Today, like any other defendant, Nemazee faces the stark consequences of his decision to violate the law.”
(Source: NY Daily News)
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14 Responses
I believe that the diferrence is that this guy pleaded guilty. Had rubashkin pleaded guilty he would have got a lesser sentence.
The difference between this case and Rubashkin is that Nemazee pleaded guilty. That is a crucial factor.
This just makes me more angry about how Rubashkin’s lawyers and advisors handled his case – they could care less about SMR. As this story states, it’s truly amazing how a few simple words can drastically reduce one’s sentence:
“I’m guilty of these crimes. I’m also guilty of hypocrisy,” he said, standing next to his lawyer.”
If only he (SMR) had a team that cared for their client more than lining their own pockets. To add insult to injury, they continue to do this even today. G-d help us.
Wow.this is something.
why only 12 years; because he is politically connected. He will be out in 5 you watch, why Rubashkin will sit and sit until gets over turn by appeal; and Pollard sits
What’s the matter with you guys?–Why don’t you learn the facts, before you repeat the lies and blood-libels of the Federal prosecutors.
Rubashkin is not guilty of any wrongdoing. His lawyer, Nat Lewin, one of America’s greatest legal minds, explains how the prosecutors framed him, in exquisite deatail, in the latest issue of Z’MAN, the Jewish magazine sold everywhere.
The prosecutors actually created the crime of “Bank Fraud,” by preventing Rubashkin from selling his business at a fair price, which have paid the bank in full. The prosecutors did this by threatening all prospective buyers with forfeiture if they employed any of the Rubashkin family members, the only ones who had the experience and knowledge to operate the business.
Unlike the State of Iowa’s trial, in which Rubashkin was totally exonerated, the Federal “trial” was a travesty of justice, largely because of the vindictive attitude of that evil judge, Linda Reade, who did not allow Sholom Mordechai to introduce relevant evidence that would have exonerated him.
Our Gedolim, Rav Kanievsky and Rav Steinman, SHLIT”A, have both stated that this is a clear case of Pidyon Shevuyim. We are all obligated to get this man out of jail, free to join his wonderful family.
Why do so many of our Yidden uncritically accept the lies and calumnies of the ReShoim who are intent on destroying this Tzaddik, in order to further their personal political and career ambitions?
Its like comparing apples and oranges. This guy pled guilty and saved the government time, money, and effort. Dont even try to compare it just makes it look like Jews want to cry anti-semitism.
cmon everyone knows this guy is a muslim and you have to make nice
mbachur, you took the words right out of my mouth.
MazelKGH, how could you term Rubashkin’s lawyers the way you did?
We cant understand why hashem wants R’ SMR to go through this ordeal, and all we can do is daven that hashem give him the koach to make it through. What we can understand is why he didn’t plead guilty, if he isn’t.
“(Rubashkin Got 27 Years)” This is something that I would’ve thought to be found in the comments as opposed to the title of the article!
At the sentencing hearing, a lawyer representing the government said that the government did not forbid the buyers of the company from employing Rubashkin. The defense brought witnesses and statements from buyers who said that the government made it very clear to them that neither Rubashkin nor any member of his family would be allowed to work for the company, and the government would seize the company if they did so. This was also reported in the newspapers at that time. At the sentencing, the judge said, I choose to believe the government and not the witnesses who said differently – no reason given; just this is what she wanted to do. Isn’t this clearly wicked and vindictive. Either it is anti-Semitism or it is payback for being against the unions. Any way you look at it, it is totally bias and can’t be explained by saying she is a “strict judge”. Other evidence points to her bias, such as allowing the prosecutors to discuss the immigration charges at the bank trial, when this was clearly against the rules.
The bottom line is that SMR was sentenced by a hard line judge in Iowa while this guy was sentenced by a decent judge in NY. Meshane makom meshane mazal.
Hassan Nemazee pleaded guilty and admitted his crimes. He did not obstruct justice or perjure himself. He did not engage in a conspiracy to defraud, He did not bribe a public official. He did not hide his assets and resist paying restitution.
Rubashkin obstructed justice, perjured himself, engaged in a legally defined conspiracy to defraud, bribed a public official, hid his assets and refuses to pay restitution. Rubashkin has never admitted to his crimes and he did not plead guilty.
Rubashkin was OFFERED a plea bargain of LESS than what this guy got, but refused to take it.