Democratic fundraiser Hassan Nemazee was released from jail Wednesday after being charged with one count of bank fraud, The Associated Press reported. The New York financier agreed to a $25 million bail package that requires him to pledge two of his properties as collateral within a week. Nemazee, who was the finance chairman of Hillary Clinton’s 2008 presidential campaign, will remain under house arrest in his $20 million Manhattan apartment and wear a monitoring bracelet, according to reports. He also is barred from using computers or the Internet or getting new cell phones or bank loans.
On Sunday, FBI agents stopped Nemazee at Newark International Airport as he tried to board a flight to Rome and asked to interview him. The following day, he repaid a $74 million Citibank loan. On Tuesday he was arrested and charged with one count of bank fraud. Prosecutors said he used “fraudulent and forged” documents to get the loan. Nemazee is chairman and chief executive of Manhattan-based Nemazee Capital Corp.
From the New York FBI news release:
Furthermore, on many of the documents at issue, Nemazee falsely provided as the address and telephone numbers of various financial institutions purportedly vouching for his financial strength an address and telephone number that was, in fact, controlled by Nemazee. As a result, in the event anyone at Citibank made an effort to confirm the existence of the assets reflected on the fraudulent documents submitted by Nemazee, they would in fact be contacting a telephone number assigned to Nemazee himself, and not any financial institution.
Assistant U.S. Attorneys John M. Hillebrecht and Daniel W. Levy are prosecuting the case.
Nemazee’s attorney, Marc Mukasey — a former prosecutor who is the son of ex-Attorney General Michael Mukasey — called the bail terms “Draconian” and “staggering.” Hillebrecht argued Nemazee is a flight risk. The prosecutor said releasing Nemazee without an electronic bracelet “would be a huge mistake,” The AP reported.