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Complaint Says Hsu Admitted Fraud
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hillarynews
Joined: 24 Jan 2007
Posts: 2255
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 Posted: Sat Sep 22, 2007 1:00 am Post subject: Complaint Says Hsu Admitted Fraud |
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 Complaint Says Hsu Admitted Fraud
Norman Hsu, the Democratic fund-raiser with a habit of fleeing the law, confessed to F.B.I. agents last week that he had swindled investors in what the government describes as a multimillion-dollar Ponzi scheme, and acknowledged pressuring at least some of them to contribute to political campaigns, prosecutors said in a criminal complaint unsealed yesterday.
Category: Top Story
The complaint, filed in the Federal District Court in Manhattan, charges Mr. Hsu with bilking hundreds of investors around the country out of at least $60 million over the last four years. It says he used some of that money to reimburse, in violation of election law, at least two people who, the government says, made a total of $60,000 in campaign donations at his request.
The complaint does not contend that Mr. Hsu confessed either to so vast a swindle or to reimbursing the donors. Nor does it specify which candidates received the illegal or coerced contributions, or who made them.
But the authorities confirmed that one of the candidates was Senator Hillary Rodham Clinton, Democrat of New York, whose presidential campaign has already said that it intends to return $850,000 to more than 200 people whose donations were bundled by Mr. Hsu. At a news conference yesterday, Michael J. Garcia, the United States attorney in Manhattan, said the Clinton campaign was cooperating in the investigation that led to the new complaint.
Mr. Hsu, 56, an apparel industry executive and major donor to Democratic candidates and causes, is charged with mail fraud, wire fraud and violating the Federal Election Campaign Act. Conviction on all counts could bring 45 years in prison.
Mr. Hsu surrendered to the authorities in San Mateo County, Calif., at the end of August after reports surfaced that he had been a fugitive in a separate fraud case there for the last 15 years. He was released on $2 million bail, but a week later fled again. On Sept. 6, while riding an Amtrak train from California bound for Denver, he fell violently ill. Taken to a hospital in Grand Junction, Colo., he was eventually arrested there by federal agents. He agreed not to fight extradition, and was returned to California yesterday.
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Source: The Hillary Project
Description: reporting the news about Hillary that the media refuses to |
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