NY feds: Investment banker faked documents to get $74 million Citibank loan

NY prosecutors accuse investment banker of fraud

NEW YORK — Federal authorities in New York have arrested an investment banker on charges he lied to Citibank to get a $74 million loan.

Prosecutors accused Hassan Nemazee on Tuesday of giving Citibank documents showing he owned millions of dollars in collateral. They said documents were “fraudulent and forged.”

Authorities says FBI agents interviewed Nemazee on Aug. 23. They say the next day he paid off the loan.

The 59-year-old Nemazee was to appear in federal court in Manhattan later Tuesday to face bank fraud charges. The name of his lawyer was not immediately available.