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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

(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. (AP Photo/Paul Sakuma, File)

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. (AP Photo)

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COMMENTS

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Showing 3 of 5 comments

serfinWI

May 8, 2009 12:47 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.

Robert_Dada

May 8, 2009 7:54 AM CDT

It will come out in the trial and subsequent plea deals.

Robert_Dada

May 7, 2009 10:23 AM CDT

What's to handle? He's guilty and he'll be punished, as it should be. End of story.

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Dem Donor Hsu Pleads Guilty to $20M Fraud

Ponzi scheme garnered illegal political donations: feds

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Hillary Clinton • Manhattan • federal courts • guilty plea • Norman Hsu • Democratic Party • criminal trial

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Clinton Donors Caught Up in Criminal Cases

Four cases, six defendants, $1.1M in contributions

Alleged Spy Got Close to Clinton Friend

Russians considered fundraiser a 'very interesting target'

Judge Gives Bernard Kerik 4 Years in Jail

Term for former NYPD chief is harsher than prosecutors sought

9/11 Plotters Will Face Death: Holder

New York trial represents proper US tradition, AG says

Kerik Pleads Guilty in Corruption Case

Plea bargain carries suggested sentence of 2-3 years

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Dem Donor Hsu Pleads Guilty to $20M Fraud

Ponzi scheme garnered illegal political donations: feds

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OTHER STORIES ON OUR RADAR

Hillary Clinton • Manhattan • federal courts • guilty plea • Norman Hsu • Democratic Party • criminal trial

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Clinton Donors Caught Up in Criminal Cases

Four cases, six defendants, $1.1M in contributions

Alleged Spy Got Close to Clinton Friend

Russians considered fundraiser a 'very interesting target'

Judge Gives Bernard Kerik 4 Years in Jail

Term for former NYPD chief is harsher than prosecutors sought

9/11 Plotters Will Face Death: Holder

New York trial represents proper US tradition, AG says

Kerik Pleads Guilty in Corruption Case

Plea bargain carries suggested sentence of 2-3 years

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Newser By Users

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