Hsu Says He Isn't Liable For All Ponzi Losses

Law360, New York (September 1, 2009, 3:21 PM EDT) -- Businessman and infamous political donor Norman Hsu has told a judge his sentencing should reflect the fact that he was not responsible for injury to all those who lost millions in an allegedly fraudulent investment scheme.

In a sentencing memorandum filed Monday in the U.S. District Court for the Southern District of New York, an attorney for Hsu said a presentence report in the case contended 250 victims were defrauded by the scheme. But at worst, his sentencing should reflect the injury to 10 to 50...
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