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Dem Donor, Ponzi Schemer Hsu Gets 24 Years

By Harry Kimball, Newser Staff

Posted Sep 30, 2009 9:32 AM CDT

(Newser) – Norman Hsu is a man of many hats, but the Hillary Clinton fundraiser extraordinaire, Ponzi schemer, and onetime fugitive has been sentenced to wear them in prison for the next 24 years. While significantly less than the 30 years prosecutors had asked for, Hsu’s lawyer tells the Wall Street Journal that his client plans an appeal. Though Hsu has admitted guilt, he says the prosecution inflated the size of his Ponzi scheme, which is taken into consideration when sentencing.

“I know apologizing will not make things better for anyone,” Hsu told the court yesterday, “but I would still like to apologize.”

[Images (3)]

[Quotes (2)]

Norman Hsu. (AP Photo)

In this undated file photo, former top Democratic fundraiser Norman Hsu poses with Sen. John Kerry, D-Mass. (AP Photo/US Attorney's Office, File)

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I know apologizing will not make things better for anyone, but I would still like to apologize to your Honor, and to everyone else. - Norman Hsu, at his sentencing

(Hsu) had the bad luck of being caught during a time where many other schemes were going on. - Norman Hsu's lawyer, on why Ponzi schemers are getting longer sentences than in the past

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