Former Democratic party fundraiser Hassan Nemazee, who raised large sums for both the Hillary Clinton and Barack Obama presidential campaigns, has been sentenced to 12 years in prison for fraudulently acquiring $292 million in loans from three banks.

Hassan Nemazee, the financier and Democratic party mega-fundraiser accused of swindling banks out of $292 million, pleaded not guilty to the charges against him this morning. [Reuters]

Hassan Nemazee, the banker and Democratic mega-fundraiser who was indicted last month for allegedly using forged documents to obtain a $74 million loan from Citibank—and who is currently under house arrest at his Park Avenue apartment—is facing new charges. He's been indicted for bank fraud and "aggravated identity theft" as part of what prosecutors describe as a $292 million Ponzi scheme that involves Bank of America and HSBC, too. Also, in case you've been mispronouncing his name all this time, the AP points out it's hah-SAHN' nah-MAH'-zee. Please make a note of it. [AP, Reuters]

Last week, banker and Democratic mega-fundraiser Hassan Nemazee was detained by FBI agents investigating whether Nemazee had used forged documents to get Citibank to provide him with a $74 million loan. The next day, though, Nemazee paid Citibank back the entire $74 million—presumably because he was hoping that if he returned the cash, he might be able to make the problem go away. But the move was a bit suspicious. If he had the $74 million sitting around, why would he have bothered carrying out the scheme in the first place?

Today is not a good day for Hassan Nemazee, the banker and Democratic heavyweight who served as finance co-chairman for Hillary Clinton's presidential campaign. He's now out on bail following his indictment on bank fraud charges, which is nice. And the terms of his release allow him to remain in his Park Avenue apartment under house arrest, which is good, too. But he can't do very much. He's not allowed to watch TV or use a computer. And making ends meet may be tough for Nemazee now that he's had to put his apartment and weekend home up as collateral, and the judge also prohibited him from applying for any new bank loans or credit cards. But have no fear, Hassan! We have a little workaround for you.

Hassan Nemazee, the banker and Democratic mega-fundraiser who was charged yesterday with forging financial documents to get Citibank to give him a $74 million loan, got to leave prison today. And just like Marc Dreier and Bernie Madoff before him, he'll be under house arrest from now on, confined to a $20 million, 14th floor co-op at 770 Park Avenue. The terms of Nemazee's release are pretty strict: The $25 million bail package requires him to pledge his Park Avenue apartment and house in Katonah as collateral; he'll be monitored round the click via electronic bracelet; and the judge also banned him from using computers, the Internet, or getting a new cell phone. (What's he going to do all day? God only knows.) Prosecutors argued for the tough terms because they said Nemazee is a flight risk, and by the looks of it, the judge was inclined to agree. But that's where you come in! The apartment next door to Nemazee's is up for sale. Maybe you want to move in and keep an eye on him? We can't say so for sure, but prosecutors might be willing to cut you a break the next time jury duty rolls around if you step up and perform the valuable service. A couple of pics and a floor plan of Apt. 14B are below.

Here's a word to the wise: if you're going to ask a bank for a $74 million loan, be sure to have some outside help. And definitely don't give them referential phone numbers that are registered under your name.

Steve Rattner has some company today: One more prominent Upper East Side financier and Democratic mega-fundraiser is now facing an embarrassing financial scandal. Hassan Nemazee, who served as the New York finance chairman for John Kerry's presidential campaign in 2004 and raised hundreds of thousands of dollars for Hillary Clinton and, later, Barack Obama, was arrested on charges he "tricked" Citigroup into lending him as much as $74 million using phony documents. Nemazee was charged with one count of bank fraud and is expected to appear in federal court this afternoon. Although judging by some of Nemazee's shady political tactics over the years, it's possible that this wasn't first time he's forged a document or two. [Bloomberg]

The high rollers who raised millions for Hillary Clinton's campaign are getting (another) visit today from the man who helped dashed their dreams—Obama's campaign manager. And guess what? He's going to be asking them for millions more. David Plouffe, one of Obama's closest advisors, will be stopping off at a Midtown law firm today to meet with a group of HillRaisers who oiled and operated Hil's vaunted money machine.