Obama And That Other Ponzi Scheme: president-elect’s name may emerge in Norman Hsu fraud trial
From:
http://www.thesmokinggun.com/archive/years/2008/1231082hsu1.html
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 .... 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...
...including perhaps the president-elect—will be introduced at trial.” Before becoming a key fundraiser for Hillary Clinton’s presidential bid, Hsu co-hosted a 2005 California fundraiser for Obama’s political action committee and introduced the Illinois Democrat to Marc Gorenberg, a Silicon Valley venture capitalist who later joined the Obama campaign’s national finance committee. Prosecutors allege that Hsu directed his investors to donate money to specific candidates, and then reimbursed them in violation of federal campaign laws. ....
SIX PAGES IN TOTAL
Hsu Steered Major Fundraiser to Obama
Campaign Acknowledges Link to Democratic Donor Who Is Now Under Arrest
By Mosk and Solomon
Sat, Sept 8, ‘07;
FROM:
http://www.washingtonpost.com/wp-dyn/content/article/2007/09/07/AR2007090703047.html
...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,...
...Earlier this month, focus on his fundraising activities led to revelations that Hsu was a fugitive in a 15-year-old California criminal case, leading to his downfall in political circles....
Norman Hsu has lots of interesting connections and activities:
http://www.nndb.com/people/533/000162047/
He’s also been trustee of the Eugene Lang College, and administrator of the New School University, which have ties to Annenberg.
From nndb.com (check out their mapper at the bottom of the page, it’s useful for visualizing relationships):
Al Franken for Senate
Clinton Global Initiative
EMILY’s List
Friends of Hillary
Hillary Clinton for President
Innocence Project
John Kerry for President
Kerry Victory 2004
Obama for Illinois
PAC For a Change
Searchlight Leadership Fund
Hillraiser 2008
Naturalized US Citizen
Bankruptcy 1990
Kidnapped (Sep-1990)
Grand Larceny pled guilty (Feb-1992)
Failure to Appear (10-Jun-1992)
Bankruptcy (1998)
Campaign Finance Violation charged (2007)
Failure to Appear Redwood City, CA (5-Sep-2007)
Suicide Attempt per lawyer (Sep-2007)
Chinese Ancestry