NEW YORK (AP) — A wealthy investment banker and prominent fundraiser for President Barack Obama, Hillary Clinton and other top Democrats was arrested Tuesday on charges he lied to get a $74 million business loan that — once confronted by authorities — he hastily repaid.
Prosecutors accused Hassan Nemazee of giving Citibank documents showing he owned millions of dollars in collateral. They said the documents were "fraudulent and forged."
At a brief appearance in federal court in Manhattan on Tuesday, a judge ordered a haggard-looking Nemazee locked up for the night. His attorney won assurances from prosecutors that he would be fitted with an electronic monitoring device and put under house arrest today as part of a $25 million bail package secured by property, including a $20 million Park Avenue apartment.