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-Lurid Crime Tales- |
Hsu's Companies Paper Fronts For Illegal Contributions |
2007-09-10 |
(via Captain's Quarters blog) The New York Times has its reporters wearing out some old-fashioned shoe leather in attempting to trace down the source of Norman Hsu's prodigious amounts of money, used to float $1.6 million in personal and bundled contributions to Democratic candidates and organizations. The result? The Times discovered that the companies Hsu listed appear to have only one produce -- salaries for Democratic contributors: At the center of the ever-deepening mystery of Norman Hsu, the fugitive fund-raiser who was captured after a brief flight from the law last week, is the question of how he evolved from a bankrupt swindler in 1992 to a wealthy donor to many Democratic candidates, and a bundler of campaign contributions to Senator Hillary Rodham Clinton in 2007. The system described by Mike McIntyre is one that resembles a pyramid scheme, except the only payoff participant were Democratic candidates and organizations. The companies existed to take money from various people and push it through others to get the money to Hsu's political clients. It allowed the money to come through cleanly and to keep it from raising the attention of the FEC. For instance, Components Ltd took $600,000 in receipts one month. These did not come from sales of product, but rather cash transfer from people associated with Hsu's bundled contributions, especially from two specific associates. Components Ltd them sent out $660,000 in the same month to other people connected to Hsu's bundling, although almost $100,000 of those checks bounced. McIntyre closed the gap a little on Hsu's missing years abroad while fleeing the US and a three-year stretch for fraud. He did return to Hong Kong and opened new businesses, but by 1998 he had to declare bankruptcy there as well. The Hong Kong court system does not release the name of the creditor, but they did report that Hsu only emerged from bankruptcy there in 2006 -- two years after he reappeared as a major Democratic fundraiser. Clearly, the feds will find interesting material in this information. The family whose massive contributions led the Wall Street Journal to report on Hsu has been up to their eyeballs in Hsu's shell game. The Paws have wired five-figure funds transfers, despite their modest income. Hsu also wired the Paws significant amounts of money. All of this occurred in May 2003, which predates most of the attention-getting contributions Hsu engineered. Can you say "wire fraud"? I know the FBI can. That carries about a six-year sentence, and once they start interrogating the Paws, the Lees, and the other channels for Hsu's bundling, this case will start to assemble in a hurry. And at that point, perhaps we will get the answer to the big question: where did all of this money really originate? And how did all of these Democrats, including three current or former state Attorneys General, manage to miss all of this illegal activity from one of their biggest rainmakers? |
Posted by:Anonymoose |
#7 Drop this shoe |
Posted by: wxjames 2007-09-10 21:22 |
#6 If one really believes China is behind this then one must also believe there is at least one more Hsu yet to drop. |
Posted by: Nimble Spemble 2007-09-10 20:55 |
#5 In light of how China benefited so much from the previous Clinton administration, it is nearly impossible to believe that Hsu is not a conduit for politburo money seeking to influence our national elections. Watch carefully to see if Hillary actually rejects any of this loot. Should she be so incredibly unwise as to retain these tainted contributions, the republicans had better make some real hay out of this development. There had better be some extremely dire consequences in store if we uncover direct proof of China meddling in our presidential elections. Any failure to do should be a death knell for the careers of any politicians who fail to act. |
Posted by: Zenster 2007-09-10 20:43 |
#4 Oh, this story definitely has legs. Now all you have to do is turn Britney Spears into Ace Reporter so people will actually pay attention to it... |
Posted by: tu3031 2007-09-10 16:59 |
#3 Let's see; Hsu is Chinese. He goes to Hong Kong which is in China. He comes back with money. Where did he get it ? Ummm, China ? CORRECT ! And the bonus question; Who stands to benefit and how ? Ummm, China thru corrupt democrat government ? CORRECT ! |
Posted by: wxjames 2007-09-10 13:51 |
#2 We have gotten so used to the Clintons being able to perform any act and get away with it. However, I'm struck by the fact that this Hsu situation seems to be blowing up in a way that they are unable to control. In past scandals, they were in power and it was Bill's political career at stake. Now Hillary's control is limited and she doesn't even have the support of all of the well funded fringe groups. This could become very interesting. |
Posted by: Unutle McGurque8861 2007-09-10 13:37 |
#1 |
Posted by: Anonymoose 2007-09-10 12:30 |