by Leslie Wayne & Carolyn Marshall: Norman Hsu, a prominent Democratic donor who had raised hundreds of thousands of dollars for candidates, turned himself in to the authorities yesterday in California, where there was a 15-year-old warrant for his arrest in a fraud case. Hsu was promptly handcuffed and jailed, the latest twist in a fast-moving political event in which candidates in the presidential campaign as well as in state and local races, have rushed to return money from Hsu because of his criminal past. After posting $2 million for bail, Mr. Hsu was released and told to appear next Wednesday at a bail-reduction hearing. Hsu appeared before Judge H. James Ellis in San Mateo County Superior Court in Redwood City, Calif., — the same court that heard the 1991 case against Mr. Hsu. At that time, Hsu pleaded no contest to a felony count of grand theft for defrauding investors of up to $1 million and became a 15 year fugitive after skipping a court hearing where he faced up to three years in prison. James J. Brosnahan, Mr. Hsu’s lawyer, said that “we are moving toward a resolution of this matter,” and that Mr. Hsu and his lawyers had been meeting with the California attorney general’s office to work out a plan of restitution for victims of Mr. Hsu’s actions, some of whom have already been repaid . . . [Read More] ARRA Editor Comment: Why isn't this thief in jail? What After being on the run for 15 years -- Norman Hsu gets bond after failing to appear. It does not matter that Hsu is working out restitution to the people he defrauded 15 years ago. He should be required to make restitution anyway. The 3 year sentence he plead no contest to was a reduced sentence over what he could have received if he had gone to trial. Hsu should begin serving his three year sentence immediately or at least wear a leg bracelet while out on bail. Doing "good works for Democrat campaigns" while being a wanted fugitive for 15 years, should not merit a subsequent reduction in his sentence. Where and how did he "legally" obtain his current income with which he is making restitution? Is the the IRS checking on Hsu illegally gained income? UC Berkeley and the Wharton School of Business must be real proud of Norman Hsu. He sure learned how to turn stolen money into a "successful career" of funding campaigns. Norman Hsu is boldly displayed as a "silver sponsor" for the 2006 Joseph Wharton Dinner which cost attendees $500 a ticket to attend. Is the Univ of Pennsylvania Wharton School of Business going to return funds that they received from Hsu?
Tags: California, Democrat, fugitive, fund raiser, grand theft, New York, Norman Hsu, UC Berkley To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
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