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MONDAY, NOVEMBER 23, 2009
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Dem Donor Hsu Pleads Guilty to $20M Fraud

Ponzi scheme garnered illegal political donations: feds

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(Newser) – Democratic fundraiser Norman Hsu pleaded guilty today to 10 counts of wire and mail fraud related to an alleged $20 million Ponzi scheme. Prosecutors say Hsu, now 58, bullied victims into contributing to political causes and made illegal donations to politicians like Hillary Clinton, who eventually returned $850,000. His trial begins Monday in Manhattan federal court, the New York Post reports.

Hsu has been in jail since he was arrested in 2007.
Hsu has been in jail since he was arrested in 2007.   (AP Photo/Paul Sakuma, File)
Federal records show that Hsu donated $260,000 to Democratic Party members since 2004.
Federal records show that Hsu donated $260,000 to Democratic Party members since 2004.   (AP Photo/Paul Sakuma, File)
Hsu appears in a California courtroom in this file photo. The accused fraudster pleaded guilty today in a Manhattan federal court.
Hsu appears in a California courtroom in this file photo. The accused fraudster pleaded guilty today in a Manhattan federal court.   (AP Photo)
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5 comments
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serfinWI
May 7, 09 2:32 PM CDT
I wonder if they'll release all the names he donated to? Wouldn't this be loaded with comments if he were a Republican donor? Where is everybody? Reply
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ClingingToHope
May 7, 09 4:03 PM CDT
serfinWi, nobody is commenting b/c the dumbolibs can't handle the truth. You know that somehow this is George W. Bush's fault! I wouldn't be surprised if this guy wasn't Chairman Obama's next cabinet nominee. Reply
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Robert_Dada
May 7, 09 5:23 PM CDT
What's to handle? He's guilty and he'll be punished, as it should be. End of story.
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serfinWI
May 7, 09 7:47 PM CDT
No, we need to know who he donated to. And why don't we hang out his whole family as well while we're at it. Where did all that 20 million go? What about all those poor people he stole from. Why aren't we hearing from them, their poor sap stories about getting their life savings ripped off by some greedy Democrat. There's lots more to this story. Reply
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IN RESPONSE:
Robert_Dada
May 8, 09 2:54 PM CDT
It will come out in the trial and subsequent plea deals.
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