I think I know Hu really gave him the money...
Posted on 09/12/2007 12:54:53 AM PDT by CutePuppy
Woodstock Creator Tells DA That Funds Have Gone Missing
A $40 Million Shortfall
Where did Norman Hsu get his money?
That has been one of the big questions hanging over the prominent Democratic fund-raiser, as reports have surfaced about hundreds of thousands of dollars he made in political donations, plus lavish parties, fancy apartments and a $2 million bond he posted to get out of jail earlier this month.
New documents reviewed by The Wall Street Journal may help point to an answer: A company controlled by Mr. Hsu recently received $40 million from a Madison Avenue investment fund run by Joel Rosenman, who was one of the creators of the Woodstock rock festival in 1969. That money, Mr. Rosenman told investors this week, is missing.
Mr. Hsu told Mr. Rosenman the money would be used to manufacture apparel in China for Gucci, Prada and other private labels, yielding a 40% profit on each deal, according to a business plan obtained by the Journal. Now the investment fund, Source Financing Investors, says Mr. Hsu's company owes it the $40 million, which represents 37 separate deals with Mr. Hsu's company. When Source Financing recently attempted to cash checks from the company, Components Ltd., the investors say they were told the account held insufficient funds.
Source Financing's arrangement with Mr. Hsu's company, according to court documents and investor accounts, echoes an older matter that came to light in recent weeks. In 1991, California officials charged Mr. Hsu with grand theft for failing to repay investors for money he raised to import latex gloves from China.
"Norman Hsu has an extraordinary ability to deceive," says Seth Rosenberg of Clayman & Rosenberg, a lawyer representing Mr. Rosenman.
(Excerpt) Read more at online.wsj.com ...
Where Mr. Hsu got his money has been a burning question in recent weeks. He financed a web of political donations and a lavish lifestyle, despite two bankruptcies and a felony record. Telling acquaintances he was an apparel executive, he set up multiple companies, sometimes giving early investors profits, they say, so they would bring in friends. In some cases, investors in his businesses say they were so eager to please Mr. Hsu that they donated to political candidates alongside him.
Looks like the brown acid really was bad acid. ;)
“Clinton’s an unusually good liar. Unusually good. Do you realize that?” Bob Kerrey [D-Neb.], Esquire, November, 1996.
The donations to Hillary and to other Democrats were probably intended as downpayments on a future pardon...
Prada does NOT manufacture in China, their products are made in ITALY, that is why they are so expensive and I doubt if Gucci does either. Anything that comes from a European named fashion house that is made in China is a FAKE.
The only legitimate fashion house that manufactures in China is Coach.
This is all a massive scam, and likely a smokescreen to hide the real source of hillary's financing.
HA HA.... what a scam, anyway you look at it. If Rosenman is telling any portion of the truth then he and his “investors” are drooling morons. However, his story must be investigated very thoroughly because it could turn out to be just a cover story to distract attention away from possible ChiCom funding of Hillarity vis Hsu. Even given that Mr. Woodstock Rosenman may have done way too much acid through the years, who on earth would seriously invest $40 million with someone like Hsu, for the purposes claimed, without checking him out very very thoroughly???? What, did everyone at Woodstock do the bad acid?????
And I had the understanding that Woodstock was a financial bust. A lot of those long haired hippies were sneaking in and eventually the organizer just gave up and closed down the ticket counter. They really do not want us to find that Made in China tag on their American Queen. And just when the term 'Crinton' is making a come back.
“They really do not want us to find that Made in China tag on their American Queen.”
You mean the Queen of Diamonds, right?
Probably, a very different and "special" kind of investment. Also, there may be a possibility of "Ponzi scheme" involved as well, based on this tidbit: He financed a web of political donations and a lavish lifestyle, despite two bankruptcies and a felony record. Telling acquaintances he was an apparel executive, he set up multiple companies, sometimes giving early investors profits, they say, so they would bring in friends. In some cases, investors in his businesses say they were so eager to please Mr. Hsu that they donated to political candidates alongside him.
And pièce de résistance :
Mr. Hsu himself has donated $750,000 to Democrats and Democratic parties out of his own pocket since 2004, according to campaign-finance records.
In checks no larger than $2,300 apiece -- the legal limit for donations to single candidates for a primary or a general election -- Mr. Hsu also raised more than $850,000 for New York Sen. Hillary Rodham Clinton's presidential campaign. He co-hosted fund-raisers that brought in hundreds of thousands of dollars more, including a recent event for Mrs. Clinton at the Modern, a restaurant at the Museum of Modern Art in Manhattan. Mr. Rosenberg, the attorney for Mr. Rosenman, asked politicians to hold on to the funds so that Source Financing and other investors can be made whole. "It appears that Source Financing Investors joins Hillary Clinton...and many others as his victims," Mr. Rosenberg said in an interview. "We urge candidates who received contributions from Mr. Hsu to retain those funds so that they may be returned to victims of the scheme."
Let the unraveling begin...
“You mean the Queen of Diamonds, right?”
With all the “bodies” she has buried, she could also be the Queen of Spades...
This man is falling faster than an anvil. The many layers of other names and corruption should hide hillary just fine though.
More Hsu; how many people will lie to protect Clintons.
And Hsu appears to have been reduced to idiocy, possibly by injection of drugs or something. How convenient.
why doesn’t the fbi do their jobs??????
Rosenbaum’s story smells, very badly. Did it take so long to fabricate, that it only comes out now?
Wheels within wheels, within wheels. And every bit of it reeks of Clinton, rather Clinton’s enablers. I still am of the opinion that Bill Clinton, despite his vaunted intelligence (for which their is very little proof), is nothing more than an overgrown juvenile delinquent, completely amoral, and in no way capable of operating at the level from which his benefits come.
love the part where Rosenam labels Clinton as a victim.
She’s the victim?
I think I know Hu really gave him the money...
When playing “hearts” as a kid, we always called the queen of spades “the bubba”.......hmmmm
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