Hsu Swindled Investors of $60M: Feds

And, simultaneously, not-so-rich ones

(NEWSER) - President Obama's 2012 machine is revving up early, and his campaign is using all its assets to pull in wealthy donors—while also courting the small Internet donors that fueled his grass-roots machine in 2008. The Washington Post takes a long look at the fundraising push, which has included everything from cocktail parties to one-on-ones with Valerie Jarrett to $44 bar get-togethers, depending on what group of donors is being pursued. And the campaign team isn't done yet: Future fundraisers will be even more creative, like the food tasting with the White House chef that's in the works. More»

(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. More»

California investors say he swindled them and coerced contributions

(NEWSER) - In the latest legal woes to befall disgraced fundraiser Norman Hsu, a California investment company filed a lawsuit yesterday claiming he defrauded investors out of $23 million and demanded political contributions as a prerequisite for doing business. The allegations come a day after the feds filed criminal complaints against Hsu, the Los Angeles Times reports, for a $60 million Ponzi scheme and violation of campaign finance laws. More»

Fundraisers emboldened by Obama's endorsement

(NEWSER) - Now that President Obama has changed his tune on his super PAC , officials at Priorities USA Action have kicked into overdrive attempting to recruit deep-pocketed liberal donors who have largely been inactive since 2004. Ex-Obama aides held dozens of meetings with potential donors in LA, New York, and elsewhere yesterday, the New York Times reports, including a gaggle of executives from Wall Street and Silicon Valley. Fundraisers said they expected a boost because Obama had now made it clear he wanted the PAC to succeed. More»

Give Rick Perry $50K and you're officially a "Pilot"

(NEWSER) - Consider yourself a Patriot? Not until you’ve given Rick Perry $500,000. If you’re a little less flush, you can be an Entrepreneur for $250,000, an Explorer for $100,000, or a Pilot for $50,000. Perry’s not the only one handing his donors special titles in exchange for big bucks: Mitt Romney, who headed the Olympics in Salt Lake City, offers gold, silver, and bronze designations; John Kerry labeled top donors “vice chairs," Hillary Clinton used "HillRaisers," and Rudy Giuliani offered “Slugger” and “MVP” titles, the Washington Post reports. More»