Colorado: Brother-in-law of Democratic fundraiser charged
NEW YORK – A Colorado man faces charges that he helped a wealthy Democratic fundraiser cheat banks out of hundreds of millions of dollars.
Federal prosecutors said Friday that Shahin Kashanchi, of Telluride, provided fake documents that let his brother-in-law Hassan Nemazee defraud three banks of more than $290 million.
Nemazee was the national finance chairman for Hillary Clinton’s 2008 presidential campaign. He later raised money for Barack Obama.
Prosecutors say Kashanchi will appear in court Friday in Grand Junction, Colo. He is charged with bank fraud, which carries up to 30 years in prison.
His lawyer did not immediately return a message seeking comment.
Nemazee was charged previously. He says he is innocent.