Hsu to be charged in $60-million scheme

U.S. attorney's office in New York charges the Democratic fundraiser with campaign finance violations and running a 'massive Ponzi scheme.'

Moving with surprising speed, the U.S. attorney's office here charged Democratic fund-raiser Norman Hsu with violating campaign-finance laws and overseeing a massive $60-million fraud.

U.S. Attorney Michael J. Garcia of the Southern District of New York said Hsu pressured investors in his scheme to make campaign contributions to candidates for president, U.S. Senate and other offices "in an effort to raise his public profile."

Additionally, Hsu, 56, threatened investors, telling them that their failure to make campaign donations could jeopardize their investments with him. The allegations are made in a criminal complaint that was unsealed this morning.

Hsu handed out more than $600,000 in campaign donations since 2004, and gave to a variety of charitable organizations. The campaigns of Sen. Hillary Clinton (D-N.Y.) was the recipient of much of the money; he raised $850,000 for her from his network of associates.

Clinton has promised to return the money--although investors who have lost money may lay claim to at least some of it.

Garcia also accused Hsu of perpetrating a "massive Ponzi scheme" costing investors across the country $60 million, essentially using money from one investor to pay others in a pyramid fashion.

So much for all that talk by the Demofascists about campaign finance reform...acting as if the corruption was just a Repuglinazi problem. Of course, Hitlary Clinton, the chief recipient of his ill gotten funds, claims no knowledge ...just as she has in every one of the numerous scandals she has been enmeshed in.