Arrest
Hassan Nemazee was arrested on August 25, 2009 for allegedly defrauding Citi bank by using false documents to secure a loan.
Nemazee's additional frauds exceed $100 Million, according to Federal prosecutors
In July 2010 he was convicted of multiple counts of bank fraud and wire fraud and was sentenced to 12½ years in prison by U.S. District Court Judge Sidney H. Stein in the United States District Court for the Southern District of New York in Manhattan. The sentence was lighter than the 15½ to 19½ years that prosecutors had wanted.
Read more about this topic: Hassan Nemazee
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