Relative Of Democratic Fundraiser Charged In Multi-Million Dollar Scheme

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 Telluride resident Shahin Kashanchi provided fake documents letting 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 was to appear in court in Grand Junction, Colo. He's charged with bank fraud, punishable by up to 30 years in prison upon conviction.

His lawyer hasn't returned a message seeking comment.

Nemazee was charged previously. He says he's innocent.

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