Thursday, May 7, 2009

The Return Of A Boy Named Hsu

Remember Norman Hsu? He was the Democratic Party fundraiser who was embroiled in a web of illegal contributions, sketchy investment schemes, and bad puns a couple of years back. From Reuters:

Norman Hsu, who was sentenced to three years in prison by a California state judge in January 2008, pleaded guilty in Manhattan federal court to charges of mail fraud and wire fraud in running a Ponzi scheme of up to $60 million.

"I knew what I was doing was illegal," Hsu, 58, said in the hearing in Manhattan federal court. In addition to the California sentence, he faces at least 30 years in prison.

U.S. prosecutors said that from 2000 through August 2007, Hsu convinced investors to put up to $60 million into the scheme, in which early investors are paid with the money of new clients. After making payments, he profited by at least $20 million, according to prosecutors.

Even with these multiple convictions, the other Hsu hasn't dropped quite yet:

He still faces trial on Monday in New York for violating federal campaign laws for making political campaign contributions in other people's names.

One wonders how zealously the Obama Justice Department will pur-Hsu these charges... and then one realizes, "What better way to be ab-Hsu-lutely certain Hillary won't bolt and make a primary challenge if things go badly for the Dems in 2010?"

Hsu-long, Norman.

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