Dem Fundraiser Pleads Not Guilty To Defrauding Banks

Law360, New York (September 23, 2009, 7:07 PM EDT) -- A fundraiser for Secretary of State Hillary Clinton and President Barack Obama pled not guilty Wednesday to charges that he defrauded several banks of more than $290 million in loan proceeds.

Hassan Nemazee, chairman and CEO of New York-based Nemazee Capital Corp., who served as the finance chair for Clinton's failed presidential bid and raised campaign funds for Obama, was arraigned in the U.S. District Court for the Southern District of New York after being indicted by a federal grand jury Tuesday.

He is currently under...
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