Dem Donor Hsu Pleads Guilty to $20M Fraud

Ponzi scheme garnered illegal political donations: feds
By A Ali,  Newser Staff
Posted May 7, 2009 11:26 AM CDT
Dem Donor Hsu Pleads Guilty to $20M Fraud
Hsu has been in jail since he was arrested in 2007.   (AP Photo/Paul Sakuma, File)

Democratic fundraiser Norman Hsu pleaded guilty today to 10 counts of wire and mail fraud related to an alleged $20 million Ponzi scheme. Prosecutors say Hsu, now 58, bullied victims into contributing to political causes and made illegal donations to politicians like Hillary Clinton, who eventually returned $850,000. His trial begins Monday in Manhattan federal court, the New York Post reports. (More Norman Hsu stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X