05/19/2010 05:12 am ET | Updated May 25, 2011

Hassan Nemazee, Prominent Democratic Donor, Pleads Guilty To $292 Million Fraud

A once-wealthy businessman and prominent donor to Democratic candidates pleaded guilty on Thursday to stealing hundreds of millions of dollars to buy property in Westchester County, donate to charity and give money to political campaigns.

"I am deeply ashamed of my conduct," the man, Hassan Nemazee, 60, told Judge Sidney H. Stein in Federal District Court in Manhattan. "I accept full responsibility for my actions."

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