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SUNDAY, NOVEMBER 8, 2009
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Dem Donor Gets 3 Years for Grand Theft

Former fugitive will face Ponzi scheme charges in NY

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(Newser) – More than 15 years after pleading no-contest to grand theft charges, Democratic fundraiser Norman Hsu was sentenced in California to 3 years in prison today, the San Francisco Chronicle reports. A judge dismissed Hsu's argument that he was denied the right to speedy justice because authorities made little effort to find him during his fugitive years. Hsu's lawyer plans to appeal the ruling.

Hsu will be transferred to federal custody in New York to face fraud charges regarding an alleged Ponzi scheme. In California, his $2 million bail money will be split evenly between federal authorities and victims of the 1991 grand theft case, in which Hsu swindled investors of $1 million to market non-existent latex gloves. “It is said that justice delayed is justice denied," a prosecutor said. "Not this time.”

Norman Hsu prepares to surrender in this Friday, Aug. 31, 2007 file photo as he arrives at a San Mateo County Superior Court in Redwood City, Calif. Hsu was sentenced Friday, Jan. 4, 2008, to three years in prison after a judge rejected his bid to throw out a 16-year-old...
Norman Hsu prepares to surrender in this Friday, Aug. 31, 2007 file photo as he arrives at a San Mateo County Superior Court in Redwood City, Calif. Hsu was sentenced Friday, Jan. 4, 2008, to three years...   (Associated Press)
Norman Hsu, 56, is escorted into a Redwood City, Calif., courtorom, Friday, Sept. 21, 2007. A federal grand jury in New York on Tuesday, Dec. 4. 2007, indicted Hsu, a top Democratic fundraiser accused of cheating investors of at least $20 million and using some of the money to make...
Norman Hsu, 56, is escorted into a Redwood City, Calif., courtorom, Friday, Sept. 21, 2007. A federal grand jury in New York on Tuesday, Dec. 4. 2007, indicted Hsu, a top Democratic fundraiser accused...   (Associated Press)
Norman Hsu, 56, left, talks with his attorney James Brosnahan, right, in a Redwood City, Calif., courtroom, Friday, Sept. 21, 2007. (AP Photo/Paul Sakuma, pool)
Norman Hsu, 56, left, talks with his attorney James Brosnahan, right, in a Redwood City, Calif., courtroom, Friday, Sept. 21, 2007. (AP Photo/Paul Sakuma, pool)   (Associated Press)
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