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Norman Hsu Guilty
Norman Hsu, a former top fund-raiser for the Democratic Party and convicted Ponzi scheme operator, was found guilty Tuesday of illegally funneling tens of thousands of dollars to candidates for federal office by pressuring investors to donate to his favored candidates.
A jury of five women and seven men convicted Mr. Hsu of four counts of campaign finance fraud after about two-and-a-half hours of deliberations over two days. Each count carries up to five years in prison.
"I think he expected [the guilty verdict] because it was quick," said Alan Seidler, Mr. Hsu's lawyer.
Earlier this month, Hsu pleaded guilty to wire fraud and mail fraud charges in a Ponzi scheme that prosecutors said raised at least $60 million and swindled investors out of at least $20 million. He faces up to 20 years in prison on each fraud count.
Sentencing on all of the charges is set for Aug. 19.
Mr. Seidler said Mr. Hsu plans to appeal the convictions on the campaign finance fraud charges.
Prosecutors had alleged Hsu, in order to raise his public profile, pressured some investors in the Ponzi scheme between 2004 and 2007 to individually contribute thousands of dollars to candidates for president and Congress whom Hsu supported, including Hillary Clinton.
Well, yes, Hsu did serve as illicit benefactor to candidates for President and Congress. But let's not forget the candidates for governor, lieutenant governor, attorney general, mayor, controller, district attorney, treasurer, assessor, and city supervisor, not to mention 20 state and federal Democrat parties and committees.
Handcrafted by Flip on May 19, 2009 |
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Great comment - keep up the excellent work! COMMON CENTS http://www.commoncts.blogspot.com ps. Link Exchange??Posted by: Steve | May 19, 2009 3:34:57 PM
Also don't forget that Hsu also gave money to Obama and since he wanted to be a supporter of Hillary he introduced another bundler to Obama who then became one of his biggest bundlers for the election.Posted by: JustADude | May 19, 2009 8:25:08 PM
Via WaPo Before becoming a major bundler for Sen. Hillary Rodham Clinton's presidential campaign, disgraced Democratic donor Norman Hsu helped host a 2005 California event for Barack Obama's political action committee and introduced the senator from Illinois to one of the biggest fundraisers for his presidential bid. Federal Election Commission records show that Hsu gave $5,000 to Obama's Hopefund PAC in connection with the fundraiser and that people publicly identified with Hsu and his companies gave an additional $19,500 to the PAC in 2005 and 2006. Mark Gorenberg, who now sits on Obama's national finance committee and is one of his biggest fundraisers, said Hsu organized an early 2005 event for the Hopefund and invited him to help raise money. "He introduced me to Barack Obama," Gorenberg said of Hsu. "He was working on an event for Barack's PAC, and he asked me to help, and I did. Barack came up to San Francisco, and [Hsu] introduced him to a bunch of people."Posted by: JustADude | May 19, 2009 8:31:32 PM
Norman Hsu may not be the only one guilty of campaign finance fraud. Hsu was sponsored and introduced around to wealthy, influential and powerful people in California and New York by Hillary Clinton, Jerry Brown, Diane Finestein and many more politicians including former President Bill Clinton. Why didn't they check him out? Norman Hsu had fled to China and was linked to Chinese organized crime. Hillary Clinton even dined with Norman Hsu at Per Se restaurant in New York.Posted by: CA HOPEFULL | Sep 9, 2009 11:45:42 PM
