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»

'It's going to be harder this time,' warns Obama

(NEWSER) - As Dems hoped, President Obama set a new fundraising record at a glitzy event in George Clooney's backyard last night. The fundraiser attended by Hollywood's elite raked in a record-setting $15 million, according to DreamWorks Animation chief Jeffrey Katzenberg, a major Obama fundraiser. Most of the 150 or so guests paid $40,000 for a ticket to the event but the bulk of the money raised came from a raffle for smaller donors : The two seats up for grabs were won by a science teacher from New Jersey and a utility company worker from Florida, the Los Angeles Times reports. More»

Abake Assongba has a troubled past, 'Washington Post' discovers

(NEWSER) - Another donor-related headache for President Obama: Abake Assongba, a " bundler " who has contributed more than $50,000 to his re-election campaign, has troubles in her past including accusations of fraud to the tune of $657,000. The Obama campaign says it is reviewing the accusations against Assongba, which she disputes, but the Washington Post notes that the situation underscores the difficulty of recruiting and vetting volunteer fundraisers. More»