Suitably Flip

Norman Hsu Guilty

Again.

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.

Previous Norman Hsu coverage

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Norman Hsu Guilty

Again.

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.

Previous Norman Hsu coverage