Norman Hsu, 56, is escorted into a Redwood City, Calif., courtorom, Friday, Sept. 21, 2007. Hsu on Tuesday was charged with fraud and campaign finance violations in a case that prompted Democratic presidential hopeful Hillary Clinton to return hundreds of thousands of dollars in contributions
Former Democratic fundraiser Norman Hsu was sentenced to more than 24 years in prison Tuesday by a judge who accused him of funding his fraud with a “conniving use of the political process.”
U.S. District Judge Victor Marrero sentenced Hsu 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.
The judge said Hsu stole more than $50 million from hundreds of investors in a 10-year fraud by winning their confidence with a pristine reputation, even as he ripped them off in a complex Ponzi scheme, a recipe that the judge noted fits many white collar crimes.
He called Hsu 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 Hillary Rodham Clinton’s presidential campaign. His arrest led Clinton to return more than $800,000 to donors linked to Hsu.
Wonder if his hard-won Democrat friends, like Bill and Hillary will send him a cake while he is sitting in Club Fed?
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