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Businessman charged with fraud crime

Published on 26 Aug 2009 under category: legal

A US businessman who has acted as a fundraiser for the Democrat party has been charged with attempting to defraud a bank.

Hassan Nemazee is accused of trying to scam Citigroup by using fake documents in order to obtain a loan, those working on cases involving fraud crimes may be interested to hear.

It is claimed that Mr Nemazee attempted to defraud the bank out of $74 million (£45 million) in loans.

The allegations claim that he supplied false contact details for references and used fake documents to suggest that he had accounts containing "hundreds of millions of dollars", the Justice Department has revealed.

Mr Nemazee has been charged with one count of bank fraud and could face a prison sentence of up to 30 years.

This comes shortly after a businessman was jailed for 12 months after being found guilty of fraud crimes related to stealing a friend's details which he then used to apply for credit cards to help his company.

If you require advice on Corporate Fraud please call us on +44 (0)20 7831 0101 and ask for Dan Hyde.