Hassan Nemazee, an investor and both chairman and chief executive of Nemazee Capital Corp., was on Tuesday arrested for trying to defraud Citigroup Inc.

According to prosecutors, Nemazee sought a loan of $74 million Citibank of $74 million using fraudulent and forged documents suggesting that he had hundreds of millions of dollars of accounts in his name.

Nemazee, 59, was stopped on Sunday at Newark airport as he boarded for Rome, Reuters reported. He was charged with one count of bank fraud, and faces up to 30 years in prison plus a fine.