Ex-Top Democratic Donor Pleads Guilty To Fraud
Lawyer Blogs
Norman Hsu, a former top fund-raiser for the Democratic Party, pleaded guilty Thursday to running a fraudulent investment scheme but he continues to fight charges of making fraudulent political contributions.
Hsu, 58 years old, pleaded guilty to five counts of mail fraud and five counts of wire fraud at a hearing before U.S. District Judge Victor Marrero in Manhattan.
"I would use later investments to pay off earlier investments, so as to create the impression that my investment strategy was operating properly when, in fact, it was not," Hsu said. "I knew what I was doing was illegal,"
Jury selection is scheduled on the four remaining counts of campaign finance fraud in his case beginning Monday.
Hsu faces up to 20 years in prison on the mail and wire fraud charges.
Alan Seidler, Hsu's lawyer, said Hsu made the plea without having a plea agreement with the government.
Prosecutors had alleged Hsu falsely represented to investors that his companies - Components Ltd. and Next Components Ltd. - were in the business of extending short-term financing to companies and promised short-term, high-return investments.
Between 1997 and August 2007, the government claims Hsu convinced investors to entrust him with at least $60 million in a Ponzi scheme. After repaying some investors their principal and interest, Hsu allegedly swindled other investors out of at least $20 million, prosecutors said.
During his plea, Hsu said the scheme began in 1999.
Prosecutors also have alleged Hsu, in order to raise his public profile, pressured some investors between 2004 and 2007 to individually contribute thousands of dollars to candidates for president and Congress whom Hsu supported.
In some cases, Hsu allegedly reimbursed investors for making political contributions with proceeds from the scam, prosecutors said.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.