Feds attach Hsu's NYC bank accounts, apartment contents

Newsday ^ | October 3, 2007 | SAMUEL MAULL

[Presbyterian Reporter]

Federal authorities have frozen Norman Hsu's New York City bank accounts and attached the contents of his $8,000-a-month apartment while awaiting the outcome of claims that the jailed political fundraiser stole $40 million. The action by the U.S. attorney's office was reported Wednesday by Ronald C. Minkoff, lawyer for Source Financing Investors LLC, who had sought and won a state judge's attachment order on Hsu's property last week. Minkoff said he wanted the asset attachments as a step toward recovering his client's money. He said Hsu stole it by claiming he had deals to buy menswear from a manufacturer in China and sell it at a profit to American companies that included Macy's, Nordstrom's, Theory, DKNY, L.L. Bean, and others. Hsu was not represented at Wednesday's hearing. His lawyers have said that he is not guilty of any wrongdoing. State Supreme Court Justice Shirley Kornreich said after she signed the asset attachment order that any action federal investigators and prosecutors took with regard to Hsu's property would pre-empt her orders. Minkoff said it was unimportant that the federal authorities have Hsu's assets as long as they are later available for his client Source Financing, and other victims. He said Hsu's accounts are in Bank of America and Metrobank New York. Minkoff had also asked Kornreich to direct the political campaigns of presidential candidate Hillary Rodham Clinton, Gov. Elliot Spitzer, state Attorney General Andrew Cuomo and Rep. Kirsten Gillibrand, D-N.Y., to either return or hold contributions they received from Hsu. The political campaigns did not reply to the judge's informal inquiries about the campaign contributions, so she formally ordered them to report to her by Oct. 15, Minkoff said. p>

[Presbyterian Reporter]

It seems the direction these lawsuits are going is that the political campaigns (Hillary and others)do not have the right to give Hsu's and his cohort's contributions to charity or return it to the contributors.

It looks like Hillary and the democrats will be in the courts for years defending their decision to give stolen money to charity.

Freepers will be able to milk this scandal for years.

[NativeNewYorker]

$8,000-a-month apartment

Only uber-rich expense account transients pay that kind of money for a flat here. Folks needing big luxury space have lots of big condos to buy.

[Red_Devil 232]

The Feds as usual have the wrong Perp.

[libstripper]

Looks like Hsu was just a giant cash flow fopr undisclosed principals.

[Grampa Dave]

“It looks like Hillary and the democrats will be in the courts for years defending their decision to give stolen money to charity. “

If they gave any money to a charity that wasn’t a rat money laundering scheme, they may own that money to the people suing H$U for fraud.