Hsu Gets 24 Years In Prison For Ponzi Activity

Law360, New York (September 29, 2009, 4:47 PM EDT) -- Former Democratic fundraiser Norman Hsu was sentenced Tuesday to more than 24 years in prison for violating campaign finance laws and for running a Ponzi scheme that allegedly defrauded investors out of more than $50 million.

The 292-month sentence, imposed by Judge Victor Marrero of the U.S. District Court for the Southern District of New York, will begin once Hsu, 58, finishes a separate three-year sentence for another investment scheme.

His lawyer said he is planning to appeal.

Federal prosecutors had sought 30 years to life...
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