Dem Donor Hsu Pleads Guilty to $20M Fraud

Ponzi scheme garnered illegal political donations: feds
By Ambreen Ali,  Newser User
Posted May 7, 2009 11:26 AM CDT
Hsu has been in jail since he was arrested in 2007.   (AP Photo/Paul Sakuma, File)
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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.