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| Home Front: Politix |
| Clinton fundraiser pleads guilty to fraud |
| 2009-05-10 |
| [Iran Press TV Latest] A former fundraiser for the Democratic Party and Hillary Clinton's presidential campaign has pleaded guilty to running a fraudulent multimillion-dollar investment scheme. Norman Hsu pleaded guilty to five counts of mail fraud and five counts of wire fraud at a hearing before a federal judge in Manhattan on Thursday. Hsu admitted to taking money from investors, promising them high returns and then using later investment money to make payments, The New York Times reported on Friday. "I knew what I was doing was illegal," Hsu acknowledged. Hsu would face up to 20 years in prison on mail and wire fraud charges. He has not pleaded guilty to campaign finance fraud and his trial on those charges is scheduled to begin Monday. Investigators say Hsu took in as much as $60 million and defrauded investors of about one-third of this amount. Prosecutors say Hsu used straw donors to make campaign contributions and then repaid them. In 2007, Hillary Clinton's campaign agreed to return $850,000 in funds raised through Hsu. Clinton, now the secretary of state, was running for president at the time. |
| Posted by:Fred |
| #2 Damn you, Raj - you beat me to it! ;-p |
| Posted by: Barbara Skolaut 2009-05-10 15:13 |
| #1 He has not pleaded guilty to campaign finance fraud and his trial on those charges is scheduled to begin Monday. Guess that's when the other Hsu will drop... |
| Posted by: Raj 2009-05-10 09:32 |