OT: US charges accomplice of Democratic fund-raiser

NEW YORK, Sept 25 (Reuters) - Many of the fake documents used by a leading Democratic Party fund-raiser to defraud HSBC (HSBA.L) and Citigroup Inc (C.N) were made by his brother-in-law, U.S. prosecutors said on Friday.

Authorities arrested and charged Shahin Kashanchi, brother-in-law of indicted fund-raiser Hassan Nemazee, who donated to the presidential campaigns of Barack Obama, Hillary Clinton and other leading Democrats over the years.

Nemazee pleaded not guilty on Wednesday in Manhattan federal court to defrauding a total of three banks — Bank of America (BAC.N) was the other — out of $292 million in loan proceeds.

Sweet. Perhaps in the next election a Republican can borrow millions of dollars, prop up some candidates, then default on loan (sarcasm of course).

Will the campaign contribution recipients be forced to pay back the money to the banks? Doubt it.