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3:42 PM, Aug 25, 2009 • By MICHAEL GOLDFARB

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Hassan Nemazee, chairman of Nemazee Capital Corp. and a fundraiser for President Obama and Hillary Clinton, was arrested on charges that he tricked Citigroup Inc. into lending him as much as $74 million using phony documents.

Ben Smith adds:

Nemazee was central to a large portion of the Democratic money operation. The Nation reported, in a little-noticed examination of his business, that he quietly hired Clinton campaign chairman Terry McAuliffe at one of his companies.

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