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SUNDAY, NOVEMBER 8, 2009
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Hsu Guilty of Squeezing Donors for Campaign Cash

Big Hillary fundraiser faces up to 20 years

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(Newser) – Ponzi schemer and Democratic fundraiser Norman Hsu has been convicted of campaign finance fraud after two days of jury deliberations, the Wall Street Journal reports. Prosecutors said Hsu had pushed his investors to donate tens of thousands to his chosen political candidates, including Hillary Clinton, between 2004 and 2007. Hsu pleaded guilty to wire and mail fraud earlier this month.

Prosecutors said Hsu broke campaign finance laws in reimbursing some of the investors. He faces sentencing in August for four counts of campaign finance fraud, each of which could mean a 5-year prison term; the wire and mail fraud counts carry up to 20 years each. “I think he expected (the guilty verdict) because it was quick,” his lawyer said.

Norman Hsu, center, leaves a San Mateo County jail with Jason Booth, left, and attorney Somnath Raj Chatterjee, right, in Redwood City, Calif., Friday, Aug. 31, 2007.
Norman Hsu, center, leaves a San Mateo County jail with Jason Booth, left, and attorney Somnath Raj Chatterjee, right, in Redwood City, Calif., Friday, Aug. 31, 2007.   (AP Photo/Paul Sakuma)
In this Aug. 31, 2007 file photo, Norman Hsu prepares to surrender as he arrives at a San Mateo County Superior Court in Redwood City, Calif.
In this Aug. 31, 2007 file photo, Norman Hsu prepares to surrender as he arrives at a San Mateo County Superior Court in Redwood City, Calif.   (AP Photo/Paul Sakuma)
Norman Hsu arrives with his unidentified attorney, left, and another unidentified supporter, right, at a San Mateo County Superior Court in Redwood City, Calif., Friday, Aug. 31, 2007.
Norman Hsu arrives with his unidentified attorney, left, and another unidentified supporter, right, at a San Mateo County Superior Court in Redwood City, Calif., Friday, Aug. 31, 2007.   (AP Photo/Paul Sakuma)
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3 comments
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Robert_Dada
May 19, 09 11:57 AM CDT
Off to jail with him. I don't need or want him on 'my' side. Reply
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+1
TerrifiedCitizen
May 19, 09 12:06 PM CDT
The people obviously want term and campaign limits to level the playing field in this country, but the political machine keeps on ignoring calls to straighten out these long overdue and corrupting practices...Perhaps it's time to identify and shine a headlight on the lawmakers who are preventing it from being put into law? Reply
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IN RESPONSE:
Robert_Dada
May 19, 09 2:31 PM CDT
I don't favor term limits. We already have a way to remove people from office called the vote. Term limits promotes short sighted thinking, planning and execution because the person it impacts fully realizes up front there is no long term for he/she to effectively plan for and execute upon.
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