Posted on 09/29/2009 6:15:50 PM PDT by MissesBush
NEW YORK 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.
"Mr. Hsu's disgraceful use of political campaigns to perpetuate his Ponzi schemes, as well as his acts of campaign finance fraud, strikes at the very core of our democracy," Marrero said.
The judge said Hsu stole more than $50 million from hundreds of investors in a 10-year Ponzi scheme by winning their confidence with his pristine reputation and friendly nature, a two-faced quality the judge noted was common among certain white collar criminals.
He described Hsu as a wolf in sheep's clothing. He said his "conniving use of the political process to fund his fraud" made his crimes much more sinister and reprehensible.
Before he was sentenced, Hsu apologized.
His donations became an embarrassment for Clinton's presidential campaign. His arrest led Clinton to return more than $800,000 to donors linked to him.
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.
(Excerpt) Read more at news.yahoo.com ...
Will they give him the Polanski Special?
Doesn’t 24 years seem a bit excessive?
You know, if the Hsu fits....
Stunning that the state run media just ignores this. Somebody needs to tell San Fran Nan we found her “party of corruption”.
I’m sure that he requested a long term sentence to protect him from those who might do him harm if he were to provide names and dates.........
“embarrassment for Clinton’s”
Oh is that what he was? For a minute. I thought he might have been the Clinton’s criminal accomplice. Silly me.
PIng
Don’t expect truth and the American way from the slimey snake media.
Best you can do is anticipate the media’s eventual death and plan a cheering leading section.
Looks like Obama has a new “Prison Czar”
Hillary Clinton Associate Sentenced to 24 Years in Prison.
No doubt!!!!! Looks like the dems chickens are coming home to roost.
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