Clinton / Democrat fundraiser gets 24 years in the Graybar Hotel
Say buh-bye to Norman Hsu -- from
Yahoo/Associated Press:
Ex-Dem fundraiser sentenced in NYC to 24 years
Former Democratic fundraiser Norman Hsu was sentenced Tuesday to more than 24 years in prison by a judge who accused him of funding his fraud by manipulating the political process in a way that "strikes at the very core of our democracy."
U.S. District Judge Victor Marrero sentenced the 58-year-old Hsu, who raised money for Hillary Rodham Clinton and others, to 20 years in prison for his guilty plea to fraud charges and another four years and four months in prison for his conviction at trial for breaking campaign finance laws.
In a lengthy criticism of Hsu's fraud, the judge said the former fundraiser used political contributions to win respect and impress investors as he committed campaign finance fraud.
A bit more -- about his crimes:
Prosecutors say Hsu obtained millions of dollars from investors by claiming clothing or high-technology ventures would pay returns of 14 and 20 percent. Instead, he spent the money on himself or made charitable contributions to enhance his image, they said.
Hsu's decade-long Ponzi scheme collapsed in September 2007. Besides the sentence he received Tuesday, Hsu must serve three years in prison for a conviction in California.
Good riddance -- I guess the Hsu fit in this case... (rimshot)
Posted by DaveH at September 29, 2009 8:29 PM