JURIST Supported by the University of Pittsburgh
PAPER CHASE NEWSBURSTDigest RSS feedFull RSS feed
Serious law. Primary sources. Global perspective.


Wednesday, December 05, 2007

Democratic Party fundraiser indicted for fraud, campaign finance violations
Brett Murphy at 12:07 PM ET

[JURIST] Disgraced Democratic Party fundraiser Norman Hsu [Wikipedia profile] was indicted [press release, PDF] Tuesday on 15 additional counts of mail fraud, wire fraud, and violations of the Federal Election Campaign Act (FECA) [text] in connection with a massive alleged Ponzi scheme [SEC backgrounder]. Hsu also allegedly made illegal campaign contributions in other peoples' names in violation of the FECA. According to the indictment [text]:

In an effort to raise his public profile and thereby convince more victims to invest in his fraudulent scheme, Hsu pressured many of his victims to individually contribute thousands of dollars to various candidates for President of the United States, the United States Senate, and the United States House of Representatives whom Hsu supported. Hsu allegedly made direct and implied threats to these victims, leading them to believe that their failure to make the required political contributions would adversely impact their ongoing investment relationships with Hsu.
Each charge of fraud carries with it the possibility of a sentence of up to 20 years in prison, as well as large fines.

In September, New York prosecutors charged [JURIST report] Hsu with one count each of mail fraud, wire fraud and violating FECA in connection with the same scheme. The FBI arrested [press release] Hsu in Colorado on federal charges of unlawful flight to avoid prosecution after Hsu failed to appear for a bail hearing in California on unrelated fraud charges on September 5. Hsu formerly raised funds for political candidates, including Sen. Hillary Clinton (D-NY). Clinton agreed [San Francisco Chronicle report] in September to return $850,000 she received from Hsu. AP has more.





Link |  | print | subscribe | RSS feeds | latest newscast | Facebook page

For more legal news check the Paper Chase Archive...


LATEST LEGAL NEWS

 Hungary prosecutors charge accused Nazi with war crimes
1:19 PM ET, June 18

 ICC grants Kenya VP's request to skip parts of upcoming trial
12:23 PM ET, June 18

 Libya senior judge assassinated outside courthouse
9:29 AM ET, June 18

 click for more...

Get JURIST legal news delivered daily to your e-mail!

LATEST FORUM

Is Egypt's Stance on the Blue Nile Dam Legally Justified?
DOMESTIC
Zeray Yihdego
University of Aberdeen School of Law

ABOUT

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.

CONTACT

Paper Chase welcomes comments, tips and URLs from readers. E-mail us at JURIST@jurist.org