Hassan Nemazee ponzi scheme allegedly aided by Telluride brother-in-law

Posted By: Zeke Piestrup on September 29, 2009 5:09 pm

Doesn’t seem like you can scheme in 2009 without throwing a little ponzi in there.  Of course by now you’ve heard about the arrest of powerful Democratic fundraiser and donor, Hassan Nemazee (pictured).  As Lenny Bruce once said, “If every fundraiser from the beginning of time is crooked, there is no crooked.”  Actually Lenny said “politician” instead of “fundraiser,” but you get the gist.

Nemazee pleaded not guilty to defrauding three banks — Citibank, HSBC, and Bank of America — a total of $292 million.  Hard to cry for big banks being defrauded, but I’m sure someone with an econ degree could tell me how it hurts the little man (me).

It is alleged that Nemazee used fraudulent documents forged by his brother-in-law, Shahin Kashanchi of Telluride, Colorado. Kaschanchi must have some serious photoshop skills, as it was his forgeries that convinced the three banks that everything was on the up-and-up.

Kashanchi has been charged with two counts of bank fraud, each carries a maximum prison term of 30 years. 

As the owner of the custom-electronics company Blue Gecko, Kashanchi was known as a shy, computer geek type.  One poster to The Watch, a Telluride newspaper, relayed a story from two years ago when Kashanchi spotted his stolen snowboard outside Blue Gecko and returned it to him.

According to the affidavit, Kashanchi was paid $500 eight times between 2004 and 2008 for his handiwork.  That’s 4k for a possible 60 years in prison.  Ouch.

Zeke Piestrup ( More Posts)

Phone: Fax: Address: City: State: Zip: Country:


Comments