Crime Library: Criminal Minds and Methods
A Criminal Economy
Ghost of Fraud Past
Ghost of Fraud Past
Former democratic fundraiser Norman Hsu, who raised over $100,000 for Hillary Clinton's campaign, turned himself over to California authorities in 2007 after being discovered as a fugitive. In 1992, Hsu had been convicted of fraud for operating a Ponzi scheme in which he raised $1 million from investors to start a latex glove business, using funds from more recent investors to pay back earlier ones. After he failed to show up for his sentencing, Hsu was declared a fugitive. After Hsu turned himself in, a judge set the bail amount at $2 million, which his attorney arranged. Hsu fled again, but was found the next day in Colorado on a Chicago-bound train, in possession of prescription pills and having mailed suicide notes to several friends and organizations. On January 4, 2008, Hsu was sentenced to 3 years in prison for the 16-year-old fraud conviction.
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