New York City A federal grand jury on Tuesday indicted a top Democratic fundraiser accused of cheating investors of at least $20 million and using some of the money for illegal donations to political candidates such as Hillary Rodham Clinton.
In the 15-count indictment, the government accused Norman Hsu, a 56-year-old clothing-industry entrepreneur, of duping investors nationwide with a massive Ponzi scheme.
The government said Hsu also violated federal campaign-finance laws by making contributions to various political candidates in the names of others. A message left with a lawyer for Hsu was not returned.
Federal prosecutors said Hsu hoped his lavish campaign contributions would help draw money to his scheme by raising his public profile. To achieve his aims, prosecutors said, Hsu pressured many of his victims to contribute thousands of dollars to various candidates for president and Congress.
Hsu's work on Clinton's behalf has been an embarrassment for her presidential campaign, which has returned more than $800,000 to donors whose contributions were linked to him.