Fraud gets ex-Obama, Clinton fundraiser 12 years

[defendandprotect]

NEW YORK – A wealthy Manhattan investment banker and former top Democratic fundraiser was sentenced
Fraud gets ex-Obama, Clinton fundraiser 12 years

By LARRY NEUMEISTER, Associated Press Writer Larry Neumeister, Associated Press Writer – 1 hr 52 mins ago

Thursday to 12 years in prison for defrauding banks of $292 million, some of which he donated to politicians including Barack Obama, Hillary Rodham Clinton and Al Gore.

Hassan Nemazee, 60, had reached a plea deal in March, admitting that he cheated banks out of the money and pleading guilty to three counts of bank fraud and one count of wire fraud. U.S. District Judge Sidney Stein in Manhattan said he'll get out of prison in about a decade.

Nemazee was the national finance chairman of Clinton's 2008 presidential campaign; he also raised money for Obama and a long list of other prominent Democrats. He was Sen. John Kerry's New York finance chairman during his failed 2004 presidential run.

Prosecutors said he used some of the proceeds from his crimes to make personal donations to election campaigns, to make charitable donations and to live a lavish lifestyle that included apartments in Italy and Manhattan, partial interest in a private plane and a luxury yacht.

Stein said he showed leniency to Nemazee in part because of "his involvement in American political life." If the judge had followed federal sentencing guidelines, Nemazee would have received at least another three years in prison and as many as 19 1/2 years.

http://news.yahoo.com/s/ap/20100715/ap_on_bi_ge/us_investment_banker_fraud

[Bitwit1234]

1. Bet that is more than what has happened to some of the fundraisers

for the republicans. They are still looking for one of the crooks that raised money for crazy eyes Bachmann. Crazy eyes??? she crazy all over.

[Angry Dragon]

2. So the juge says

If you steal money and use it to buy influence you must be a good guy

One stupid judge ........

[Psephos]

3. It doesn't say anything good about Clinton's judgment that he was her national finance chairman. n/t