The Real Deal New York

$292M fraudster’s Park Avenue apartment may stay off market

October 26, 2010 01:15PM

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Hassan Nemazee

A $20 million Park Avenue duplex belonging to convicted bank fraudster Hassan Nemazee is staying off the market — for now, according to the New York Post. Nemazee, a former Democratic fundraiser who pleaded guilty to a $292 million bank fraud, had agreed to hand over the pad to help pay back victims as part of a plea deal that put him behind bars for 12-and-a-half years. But Nemazee’s wife, Shelia Nemazee, claims that she paid for $1.9 million of the apartment’s original $2.3 million price when she and her husband purchased the unit in 1989, which would may entitle her to hold onto the duplex. A Manhattan federal court judge ruled yesterday that the home will not be seized until a fact-finding hearing is completed to determine Shelia Nemazee’s stake in the home. The hearing is set for Dec. 2. [Post]

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