America, You Asked For It!

Political News and Commentary from the Right

Former Democratic Fundraiser to Plead Guilty in New York City

From FoxNews

The 58-year-old Norman Hsu was indicted in 2007 on charges of cheating investors of at least $20 million in what prosecutors say was a huge Ponzi scheme

Former top Democratic fundraiser Norman Hsu has told a federal judge in Manhattan he will plead guilty to 10 counts of wire and mail fraud.

The 58-year-old Hsu (CHOO’) was indicted in 2007 on charges of cheating investors of at least $20 million in what prosecutors say was a huge Ponzi scheme. He had been scheduled to go on trial Monday.

The government also says he made illegal donations to politicians including Hillary Clinton. Her Senate campaign later returned money linked to him.

Prosecutors say he pressured his victims to contribute to political candidates as a way to raise his public profile so he could attract more investors.

Hsu has been jailed since he was arrested in 2007.

Advertisements

May 7, 2009 - Posted by | Democrats | , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: