Results tagged “democraticfundraiser”

Norman Hsu, who helped raise millions for Democrats like Hillary Clinton, was sentenced to 24 years "for bilking hundreds of investors of millions of dollars in a nationwide Ponzi scheme and committing campaign finance fraud." The scam: "[Using] his squeaky-clean reputation to bilk investors in his Ponzi scheme out of $50 million to $100 million, claiming they could see returns of 14% to 20% on clothing and high-technology ventures." The judge who sentenced him said that Hsu's actions "strike at the very core of our democracy." The 58-year-old, who plans to appeal, said, "I made a huge mistake, a terrible mistake."