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Politics : Politics for Pros- moderated

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From: Ruffian	5/7/2009 3:25:01 PM
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PLEADS GUILTY TO WIRE, MAIL FRAUD NORMAN HSU WAS CLINTON CONTRIBUTER Last updated: 12:58 pm May 7, 2009 Posted: 11:22 am May 7, 2009 A disgraced Democratic fundraiser pleaded guilty in Manhattan today to 10 counts of wire and mail fraud. Norman Hsu, 58, was indicted in 2007 on charges of cheating investors out of $20 million in what federal prosecutors claimed was a massive Ponzi scheme and a violation of the Federal Election Campaign Act. His trial was scheduled to start on Monday in Manhattan federal court. The feds also claimed Hsu made illegal donations to politicians, including former presidential candidate Hillary Rodham Clinton. Her senate campaign later returned a whopping $850,000 linked to Hsu donors. Federal Election Commission records show Hsu alone donated $260,000 to Democratic Party groups and candidates since 2004. Hsu could face 30 years in prison. Federal prosecutors said Hsu, who has been in jail since he was arrested, also pressured his victims to contribute to political candidates as a way to raise his public profile.

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