Feds Indict Norman Hsu in New York
On November 27, 2007, embattled fundraiser Norman Hsu was indicted by the feds in New York on fraud charges arising from an alleged $60 million Ponzi scheme.
The 15-count indictment, unsealed today in New York, charges Hsu with wire fraud, mail fraud and violating election laws, alleging he lined up investors by promising high returns on short-term investments and used money from new victims to pay earlier recruits. He also pressured investors to contribute to political candidates he favored, Manhattan U.S. Attorney Michael Garcia said in a statement.
The indictment was unsealed today. I've posted a copy here.
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