Feds Charge Hsu in 'Massive Ponzi Scheme'

Categories: Citystate

Bad pun alert: Lots of politicos were waiting for the other Hsu to drop and today it did as federal prosecutors in Manhattan unsealed an indictment against Norman Hsu, the Democratic fundraiser already in federal custody on unrelated charges.

The indictment charges that Hsu, 56, orchestrated a Ponzi scheme that defrauded victims out of more than $60 million, and violated campaign finance laws in order to raise his public profile by getting others to make political contributions in their names while he re-payed them. Download the entire Hsu complaint here.

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