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Democratic Fund-Raiser Is Accused of Ponzi Scheme (Hillraiser Norman Hsu)
NY Times ^ | September 20, 2007 | ALAN FEUER

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 ...


TOPICS: Crime/Corruption; Front Page News; Politics/Elections; US: District of Columbia
KEYWORDS: clintoncorruption; hillaryslaundry; hsu; normanhsu; seebreakingnews
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It looks like a front page story for tomorrow.

1 posted on 09/20/2007 3:44:59 PM PDT by neverdem
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To: neverdem
The Clinton’s are receivers of stolen goods and think giving the stolen money to charity makes it okay!
2 posted on 09/20/2007 3:47:41 PM PDT by HuntsvilleTxVeteran (Remember the Alamo, Goliad and WACO, It is Time for a new San Jacinto)
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To: neverdem

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.


3 posted on 09/20/2007 3:47:50 PM PDT by Broker (Mabuhay!)
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To: neverdem
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.

Why not several hundred counts of mail fraud?

4 posted on 09/20/2007 3:50:43 PM PDT by oldbrowser (Just being white is not going to be enough anymore.)
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To: neverdem

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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5 posted on 09/20/2007 3:53:29 PM PDT by Broker (Mabuhay!)
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To: HuntsvilleTxVeteran

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.


6 posted on 09/20/2007 3:54:26 PM PDT by RC2
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To: HuntsvilleTxVeteran

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...


7 posted on 09/20/2007 3:56:30 PM PDT by JoanneSD (Illegals represented without taxation.. Citizens taxed without representation)
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To: neverdem
Mr. Hsu, an apparel industry executive...

No. He's what they said on the 911 audiotape:

Hillary Clinton's money launderer

8 posted on 09/20/2007 4:03:19 PM PDT by 668 - Neighbor of the Beast (Next door to fuzzy mundies)
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To: oldbrowser
Why not several hundred counts of mail fraud?

I'm thinking his strawmen should go to jail also. That will loosen a lot of tongues. Which is why it won't happen.

9 posted on 09/20/2007 4:04:32 PM PDT by ModelBreaker
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To: RC2; maica
Wanta make a bet on whether or not Hillary gets away with it?

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.

10 posted on 09/20/2007 4:11:48 PM PDT by Freee-dame
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To: neverdem

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.


11 posted on 09/20/2007 4:33:22 PM PDT by DallasMike
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To: neverdem

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.


12 posted on 09/20/2007 5:48:27 PM PDT by Signalman
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To: neverdem
Accused

ROFLOL

13 posted on 09/20/2007 6:03:46 PM PDT by org.whodat (What's the difference between a Democrat and a republican????)
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To: HuntsvilleTxVeteran
The Clinton’s are receivers of stolen goods and think saying they are giving the stolen money to charity makes it okay!

Show me a canceled check, they will keep the money!

14 posted on 09/20/2007 6:06:23 PM PDT by org.whodat (What's the difference between a Democrat and a republican????)
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To: Bobkk47

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


15 posted on 09/20/2007 6:09:33 PM PDT by digger48
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To: org.whodat
Maybe they should be applauded for recycling!
They will recycle the stolen money via fake charities!
16 posted on 09/20/2007 6:38:16 PM PDT by HuntsvilleTxVeteran (Remember the Alamo, Goliad and WACO, It is Time for a new San Jacinto)
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To: HuntsvilleTxVeteran

They have had a nice fencing operation for 25 years.


17 posted on 09/20/2007 6:43:01 PM PDT by Texas Songwriter
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To: HuntsvilleTxVeteran

They have had a nice fencing operation for 25 years.


18 posted on 09/20/2007 6:43:08 PM PDT by Texas Songwriter
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To: digger48
Hillary knew, conspired with and will now spit on the guy

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.

19 posted on 09/21/2007 5:13:25 AM PDT by 668 - Neighbor of the Beast (Next door to fuzzy mundies)
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