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Feds Seize Fundraiser Hsu's NYC Assets

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Oct 3, 2007 1:50 pm US/Eastern

Feds Seize Fundraiser Hsu's NYC Assets

NEW YORK (CBS) ―

Click to enlarge 1 of 1: Norman Hsu arrives at a San Mateo County Superior Court in Redwood City, Calif., to face a grand theft charge on Aug. 31, 2007.
AP

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Federal authorities have frozen Norman Hsu's New York City bank accounts and attached the contents of his apartment while awaiting the outcome of claims that the jailed political fundraiser stole $40 million.

The action by the U.S. attorney's office was reported Wednesday by Ronald C. Minkoff, lawyer for Source Financing Investors LLC, who had sought and won a state judge's attachment order on Hsu's property last week.

Minkoff said he wanted the asset attachments as a step toward recovering his client's money. He said Hsu stole it by claiming he had deals to buy menswear from a manufacturer in China and sell it at a profit to American companies that included Macy's, Nordstrom's, Theory, DKNY, L.L. Bean, and others.

Hsu was not represented at Wednesday's hearing. His lawyers have said that he is not guilty of any wrongdoing.

Hsu was fired by the presidential campaign of Sen. Hillary Rodham Clinton, D-N.Y., after it was learned he was a fugitive. The Clinton campaign refunded all of the money Hsu raised on its behalf.