A Hsu Update
Disgraced fund-raiser Norman Hsu did a lot more than just pump $850,000 into Hillary Clinton’s campaign bank account: He also raised hundreds of thousands of dollars for local, state, and federal candidates who have endorsed Clinton or whose support she courted…
Last fall, as the Nevada governor’s race was heating up, Clinton agreed to help raise money for Democrat Dina Titus, a prominent party leader in a state that holds a key early presidential caucus. Clinton arranged for Hsu, at the time a little-known New York apparel executive with no apparent reason to take interest in Nevada politics, to give Titus $5,000 on Nov. 3, according to a person with knowledge of Clinton’s fund-raising.
And in February, when former Iowa governor Tom Vilsack ended his own White House bid, he was about $450,000 in the red. A month after dropping out, Vilsack endorsed Clinton, and Clinton agreed to help him retire his debts. (Both insisted there was no quid pro quo.)
Over the next few months, some of Clinton’s biggest fund-raisers gave Vilsack checks, including Hsu, who kicked in the maximum allowable contribution, $2,300, on May 3 after attending an event organized by Clinton’s campaign, Newsweek reported this month. An associate of Hsu’s, Paul Su, chipped in $1,000 on the same day.
In other cases, Clinton helped direct Hsu’s money to influential politicians who have yet to endorse her but hail from key presidential primary states. Clinton raised at least $6,000 from Hsu and his network last year for Governor John Lynch of New Hampshire, according to Lynch aides. Lynch has no plans to endorse anyone before the state’s crucial January primary, aides said.
The question remains, of course, how the Clinton campaign had no idea about Hsu. He was in the top 20 Democratic donors, yet had an active bench warrant for grand theft. Of course Democrats claim ignorance, saying they only did basic searches (Google), yet the man was bringing in over $850,000 just to the Clinton campaign. But were they more than simply not interested enough in looking?
Irvine, Calif., businessman Jack Cassidy told the FBI that he sent at least three e-mails to a Clinton campaign official on the West Coast this summer, specifically raising concerns that Hsu was engaged in a risky investment scheme and was using Hillary Clinton’s name “in vain” to solicit people for his business proposition, according to a person directly familiar with the matter.
Cassidy’s concern was that Hsu was using the Clintons to give credence to his business venture, the source said, speaking only on the condition of anonymity because of the ongoing FBI inquiry.
As Bryan points out, we know that he used his connections with Democrats to bolster his credibility. Using that credibility, he would receive money from investors, which he’d use in his major Ponzi scheme.
We’re no longer talking about Hsu simply raising $850,000 for Democrats. He brought in potentially millions of dollars while operating Ponzi schemes. The Clinton campaign was warned at least 3 times about Hsu being in dirty dealings, yet it didn’t drive them to do more than a Google search. Bryan sums it up:
We’re talking about millions of dollars that went almost exclusively to Democrats, and that was apparently coordinated through the Hillary Clinton campaign to candidates that she favored and/or wanted to endorse her.
And her campaign had been warned that Hsu, who has since that time confessed to running a gigantic Ponzi scheme, was dirty.
So just what did the Hillary Clinton campaign know about Norman Hsu, and when did they know it?
Meanwhile, Hsu faces new charges in New York, including violating campaign finance laws by giving to Clinton through other people’s names, and defrauding investors out of over $60 million.