Posted on 09/20/2007 3:44:57 PM PDT by neverdem
Norman Hsu, the Democratic fund-raiser who was a fugitive from the law, was charged today with bilking investors of at least $60 million in a nationwide Ponzi scheme, tens of thousands of dollars of which was funneled by way of “straw donors” to candidates for national office in violation of federal election law.
In a complaint unsealed in Federal District Court in Manhattan, Mr. Hsu, 56, was accused of strong-arming his investors into giving money to various political causes and to candidates running for president, Senate and the House of Representatives. One of those candidates was Senator Hillary Rodham Clinton of New York, the authorities said, who was aware of the investigation and has cooperated with it fully.
Mr. Hsu was charged on one count of mail fraud, one count of wire fraud and one count of violating the Federal Election Campaign Act. If convicted he could face 20 years jail for each of the fraud charges, and five years on the campaign finance charge.
Mr. Hsu, an apparel industry executive, surrendered to the authorities in San Mateo County, Calif., at the end of August after reports surfaced that, for the last 15 years, he had been a fugitive on a separate 1992 million-dollar fraud case. He was released on $2 million bail, but a week later fled again. Mr. Hsu fell violently ill while riding an Amtrak train from California to Denver and was taken to a hospital in Grand Junction, Colo., where federal agents eventually arrested him.
The New York case seemed to merge Mr. Hsu’s interest in Chinese textiles with what Michael J. Garcia, the United States attorney in Manhattan, called his “place on the celebrity campaign circuit.”
Working through two shell companies, Components Ltd. and Next Components Ltd., Mr. Hsu persuaded numerous investors from around country...
(Excerpt) Read more at nytimes.com ...
It looks like a front page story for tomorrow.
Ponzi schemes have a smell to them.. This is the worst.
Evidence of colussion of between Mr. Shu & Mr.& Mrs. Wm. J. Clinton should be forthcoming.
Why not several hundred counts of mail fraud?
To: HappyKaty
Suspect this is a Clinton sponsored PONZI SCHEME . So vast Hillary or Bill can’t possibly avoid the crash.
66 posted on 09/12/2007 9:03:04 AM EDT by Broker (Mabuhay!)
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Wanta make a bet on whether or not Hillary gets away with it? If she does, this country may as well turn itself over to Communism, Socialism and elect a Queen instead of a President. Democrats are pulling away from her but maybe not in time.
Why is not this money that is gained illegally, given to the US treasurer? The receiver can give this to any charity they choose... MOveOn.Org comes to mind...
No. He's what they said on the 911 audiotape:
Hillary Clinton's money launderer
I'm thinking his strawmen should go to jail also. That will loosen a lot of tongues. Which is why it won't happen.
She will. If you read the entire article, Shu didn't do the shady businesses in order to make campaign contributions; he made campaign contributions to look like a big-man-with-the-powerful in order to get money from phony corporations. See, not Hill's fault at all; she is very distressed about it..../s
Trial lawyer William Lerach just pleaded guilty to defrauding corporations out of 45 Billion dollars with the assistance of paid stockholders (bribed with at least eleven Million dollars) who made phony class action lawsuits. Lerach's lawfirm, which is one of the Dems biggest donors, made at least $216 Million. For this he gets 1 - 2 years, a mighty short sentence for $45 Billion in fraud.
From what I read on Breitbart, Hsu contributed to a number of political candidates. How much do you wanna’ bet that all or most of them were Democrats.
Is the FBI the investigative entity looking into this? And if so, are they investigating any of the Democratic candidates who received the money? Inquiring minds want to know.
ROFLOL
Show me a canceled check, they will keep the money!
Was George Soros one of the bilked “investors”?
Perhaps the Woodstock guy and others were intentionally funnelling this cash through Hsu to the Dems.
Hillary knew, conspired with and will now spit on the guy she and Bill have praised when he brought them $$$’s
They have had a nice fencing operation for 25 years.
They have had a nice fencing operation for 25 years.
But he will figure this out shortly, and realize what he has that is useful in bartering for freedom or leniency.
Heard this one? Norman Hsu and Victim X went hiking in the mountains and suddenly encountered a tremendous grizzly bear. The bear reared up on its hind legs and roared at them, displaying clear intent to annihilate them. They both knew they were in mortal peril. Victim X calmly got down and took off her hiking boots, and pulled a pair of running shoes out of her bag. "What are you doing?" Norman cried out. "You can't outrun a bear!" "I don't have to," she replied. "I just have to outrun you." She left Norman holding the bag.
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