Hassan Nemazee charged in $74 million Citibank fraud.Hassan Nemazee, an investor and both chairman and chief executive of Nemazee Capital Corp., was on Tuesday arrested for trying to defraud To make a Misrepresentation of an existing material fact, knowing it to be false or making it recklessly without regard to whether it is true or false, intending for someone to rely on the misrepresentation and under circumstances in which such person does rely on it to his or Citigroup Inc. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. prosecutors, Nemazee sought a loan of $74 million Citibank of $74 million using fraudulent The description of a willful act commenced with the Specific Intent to deceive or cheat, in order to cause some financial detriment to another and to engender personal financial gain. and forged documents suggesting that he had hundreds of millions of dollars of accounts in his name. Nemazee, 59, was stopped on Sunday Sunday: see Sabbath; week. at Newark airport as he boarded for Rome, Reuters reported. He was charged with one count of bank fraud, and faces up to 30 years in prison plus a fine. |
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