Citigroup lent up to 74 million dollars to a fraudulent political fundraiser named Hassan Nemazee, chairman of Nemazee Capital Corp. Nemazee was charged with using phony documents to trick Citigroup Inc. He used fake addresses and phone numbers and claimed he had millions in collateral when in fact he had no such thing. Good to see that Citi's much heralded new risk management structure is effectively engaging in its due diligence to protect the taxpayers' investment of 45 billion dollars.
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