Norman Hsu the Hillraiser

Last week fundraiser Norman Hsu admitted in court to conducting a giant Ponzi Scheme to help top Democrat candidates with their campaigns. Hsu, a Chinese National, in trial pled guilty to the charges, though he is still contesting that he made "illegal campaign contributions." Hsu made more than $800,000 in campaign contributions to Hillary Clinton's Presidential campaign alone. In court, prosecutors played a gushing tape of her thanking Hsu, (from NBC NY ): "Norman! It's Hillary. What am I going to do with you Norman? You are working so hard for me, I don't know what to say anymore. "I've never seen anybody who ... Read Full Story

A federal prosecutor in New York City has accused former top Democratic fundraiser Norman Hsu (SHU) of forcing others to make illegal political contributions. Assistant U.S. Attorney Rua (ROO'-ah) Kelly says Hsu used his associations with political families including the Clintons and the Kennedys to boost his image and raise money for his illegal Ponzi scheme. Hsu pleaded guilty last week to wire and mail fraud, admitting he cheated investors of at least $20 million. But he insists through his lawyer that he never made illegal political contributions. Defense lawyer Alan Seidler (SEYD'-ler) told jurors Tuesday that greedy investors in Hsu's fradulent schemes made ... Read Full Story

(ABC NEWS ) Disgraced top Democratic Party fundraiser, Norman Hsu , pled guilty Thursday to charges of running a Ponzi scheme that defrauded investors of at least $20 million. The government asserted that Hsu intertwined his scheme with his political activity and pressured his investors to contribute to his favorite political candidates, including then Senator Hillary Clinton ’s presidential campaign. Hsu was slated to stand trial on Monday in Manhattan’s federal court, but according to long time court observers, Hsu was worried that fallout from the Bernard Madoff case could have resulted in a tough climate for the trial of an accused Ponzi-schemer, and ... Read Full Story

Former top Democratic fundraiser Norman Hsu has told a federal judge in Manhattan he will plead guilty to 10 counts of wire and mail fraud. The 58-year-old Hsu (CHOO') was indicted in 2007 on charges of cheating investors of at least $20 million in what prosecutors say was a huge Ponzi scheme. He had been scheduled to go on trial Monday. The government also says he made illegal donations to politicians including Hillary Rodham Clinton. Her Senate campaign later returned money linked to him. Prosecutors say he pressured his victims to contribute to political candidates as a way to raise his public profile so ... Read Full Story

Obama And That Other Ponzi Scheme President-elect's name may emerge in Norman Hsu fraud trial DECEMBER 31--As if being linked to one high-profile criminal case weren't enough, President-elect Barack Obama's name may soon pop up in another federal prosecution, this one involving a massive Ponzi scheme (no, the other massive Ponzi scheme). In addition to the Rod Blagojevich pay-for-play probe, Obama could figure in the upcoming fraud trial of Norman Hsu, the disgraced Democratic fundraiser who was charged last year with operating a $60 million pyramid scheme. According to investigators, Hsu, a major Hillary Clinton fundraiser, pressured investors to donate money to political candidates ... Read Full Story