May 19, 2009 11:28 am US/Eastern
Jury Convicts Democratic Fundraiser Norman Hsu
NEW YORK (CBS) ―
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A federal grand jury in Manhattan has indicted Norman Hsu, a top Democratic fundraiser accused of cheating investors of at least $20 million. (File)
San Mateo Co. Sheriff's Office
A longtime Democratic fundraiser has been convicted of violating campaign finance laws.
A Manhattan jury convicted Norman Hsu on Tuesday. The case became an embarrassment to Secretary of State Hillary Rodham Clinton and other prominent Democrats.
Prosecutors said the 58-year-old Hsu used straw donors to make thousands of dollars in donations so he could bypass rules limiting the amount he could donate.
Hsu's defense argued he was framed by investors who cut deals with the government to avoid prosecution.
The federal jury began deliberating Monday afternoon.
Hsu had first found trouble with the law in 1992 when he vanished after pleading no contest and agreeing to serve up to three years in prison for defrauding investors in a Ponzi scheme. He would go on to turn himself in to California authorities in 2007, then flee again before being recaptured.
(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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