LAWFUEL – The Legal Newswire – Senator Hillary Clinton is caught in a campaign finance fraud debacle as Democratic fund-raiser Norman Hsu was charged on Thursday with fraud and campaign finance violations.
Reuters report that the case that has prompted presidential candidate Sen. Hillary Clinton to return $850,000 in contributions.
U.S. Attorney Michael Garcia unsealed a criminal complaint in New York charging Hsu, 56, with perpetrating a $60 million “pyramid” fraud scheme and committing related federal campaign finance crimes.
He was charged on one count of mail fraud and wire fraud and one count of violating the Federal Election Campaign Act. If convicted he could face 20 years jail for each of the fraud charges, and five years on the campaign finance charge.
Hsu, who was arrested in Colorado this month, had been a donor to several candidates including Clinton. On September 10, the Clinton campaign said it would return about $850,000 in campaign contributions from Hsu.