Hsu’s extradition bail set at $5 million; Hsu’s checking account shows $6 million
posted at 10:17 am on September 14, 2007 by Allahpundit
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The prosecutor asked for $50 million after being told that Orange County’s ready to file new charges accusing Hsu of running yet another Ponzi scheme, this one to the tune of $33 million in assets. The judge’s response, and I quote:
“Two million wasn’t enough to keep Mr. Hsu from running. We’ll see if $5 million will do it.”
“Let’s try it and see what happens” — always a good maxim when dealing with criminals. The punchline is that, according to the prosecutor, the cops found a checkbook on him with a cool six mil in the account. Your exit question, per Captain Ed: How impossibly shady is it for someone to keep six million dollars in a checking account?
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Amazingly shady, considering that it is most likely stolen to boot.
Yeah, any amount of bail for a guy who has tens of millions in illicit funds at his disposal is just insane.
bbz123 on September 14, 2007 at 10:23 AM
I am still lost at how a DA in Colorado has the ability to grant bail for a fugitive from California.
Unless he is just expecting Hsu to run again so he can get the 5 million into the country coffers free and clear .
Mojack420 on September 14, 2007 at 10:25 AM
Wrong exit question Allahpundit the exit question should have been…How impossibly shady is it for the judge to allow Hsu out on bail knowing that he skipped bail on a 2 million dollar bail already.
doriangrey on September 14, 2007 at 10:30 AM
You mean you don’t keep six mil in your checking account? Losing about $500 per day in interest.
Never know when you run into a Democratic Senator and need that extra mil.
Maybe Feinstein’s husband knows where the chinese connection is…
right2bright on September 14, 2007 at 10:35 AM
His attorney’s firm has donated to the Hillary campaign. No doubt it’s just a coincidence.
Now if he’s being extradited back to California, can a judge there remand him without bail?
JammieWearingFool on September 14, 2007 at 10:36 AM
If you were Hsu, where would you go to be protected? Is he really safe anywhere at this point?
bbz123 on September 14, 2007 at 10:38 AM
Let’s remember that Watergate started out as a simple B&E investigation. I suspect as Hsu’s finances are scrutinized more closely more than a few “rats” will be rushing to divest themselves of hundreds of thousands of dollars in dirty money. There isn’t a prominent Democrat that hasn’t gotten money directly or indirectly from Hsu and it is highly unlikely that there is only one family who laundered money for the man. This story is far from over.
highhopes on September 14, 2007 at 10:38 AM
Lets hope!
Zetterson on September 14, 2007 at 10:43 AM
I would be willing to bet that this whole thing has a national security problem at its core.
Maybe HIllary can get Sandy B to set up an independent panel.
bbz123 on September 14, 2007 at 10:46 AM
Well of course he has 6 million, he has to finish his “suicide.”
I know I have no evidence Allahpundit, but how closely this follows the script is amazing.People that can hurt the Clintons disappear, documents that can incriminate them get burgaled, etc. When do coincidences become a trend? When does a trend become evidence?
Theworldisnotenough on September 14, 2007 at 10:52 AM
Don’t agree that this story has any teeth. It is great for mixing up conversation around here but so was Whitewater and dry cleaners and Sandy Berger’s socks.
The laws are so screwy that plausible deniability will keep it all in the gossip column. Now if a Republican gets hauled into it…well all bets are off then.
Limerick on September 14, 2007 at 10:58 AM
The only reason to have that much in a checking account is if he was planning a little more than suicide.
bj1126 on September 14, 2007 at 11:01 AM
video of Hsu hearing
Hsu thrived in ‘bundling’ system
Campaign finance changes helped create the environment in which a fugitive could be welcomed by Kennedys and Clintons.
By Tom Hamburger, Dan Morain and Robin Fields, Los Angeles Times Staff Writers
September 14, 2007
WASHINGTON — When Bill Clinton received an award at a gala dinner honoring the late Robert F. Kennedy last year, the former president expressed his thanks before an audience that included a Nobel Prize winner and a glittering array of show business celebrities and Wall Street titans. Yet the second sentence of his remarks expressed special gratitude to a man almost no one there had heard of: “our friend Norman Hsu.”
In fact, among most campaign finance staffers, Hsu developed a sterling reputation. And until the Wall Street Journal and the Los Angeles Times wrote stories about him, that reputation was untarnished.
“He was important because he could raise money. He could bring in checks from people you never heard of,” said one Democratic operative who knows Hsu. Lacking authorization to discuss the matter, the person spoke on condition of anonymity
William Amos on September 14, 2007 at 11:07 AM
As is stands right now. There just isn’t enough to go on. The Clintons are probably knee deep in this mess with regards to the contributions of this dirty money but they will come out clean on the other side. As we speak…I’m sure documents are being shredded and importany people are mysteriously “disappearing”!
Not to mention that I’ve been only been hearing about this on Fox News. Not a blip about it on any other media sources therefore the American public will simply not care. They are too busy talking about Britney Spears’ flop performance at the VMA’s this weekend to be bother with corrupt politicians receiving “Dirty Money” from crooks.
Scorched_Earth on September 14, 2007 at 11:07 AM
* importany = Important
Need coffee!
Scorched_Earth on September 14, 2007 at 11:09 AM
If he has $6 million in that checking account, what else does he have socked away that investigators haven’t even begun to discover? The guy is shady that one has to wonder whether he’s got mattresses stuffed with cash, offshore accounts, etc., with still more money.
Another possibility to consider: Was the $6 million in that account for show – to give the impression that he was far more wealthy and influential than he really was – enabling him to con bigger fish into giving still larger amounts?
lawhawk on September 14, 2007 at 11:10 AM
Keep in mind hsu got a good reputation. Rosenman said “A good freind” recomended Hsu to him. Bob Kerry invited hsu onto new School boards.
SOMEONE was vouching for Hsu. He got into the network because someone gave him access.
If a political campaign did this then that is something to look into
William Amos on September 14, 2007 at 11:11 AM
If his bail is set at only 5 million. Expect to see this man free as a bird really soon.
I find it difficult to believe that this guy only has that 6 million in his checking account. I’m sure there are plenty of other sources of money that he will use to get himself out of the clink.
Then of course, there are the Chinese connections he probalbly has here at home and overseas (Remember the countless dollars the Clintons received from the Chinese)?
This guy will be free like OJ everday unless the Judge changes his bond.
Scorched_Earth on September 14, 2007 at 11:15 AM
I would be more interested in the information in the checkbook, not how much Hsu had in his account.
Who was he writing checks to, and what was the amount?
Follow the money.
fogw on September 14, 2007 at 11:23 AM
the DA responded personally to an email asking if he was nuts – kudos to the DA for responding I think — via Suitably Flip
Topsecretk9 on September 14, 2007 at 11:46 AM
I’d say it all depends on who is doing the investigating. This story seems to be originating from the WSJ for the most part. I have more confidence that somebody will follow the money trail from that organization. Just one look at the list of “rats” who got Hsu money directly leads one to wonder how much bundled money was flowing out there.
The clue that the story is getting hot and is embarrassing for the “rats” (who claimed they were pure as the driven snow in the 2006 elections) will be if the WP and NYT starts blaming it all on McCain-Feingold and a confusing set of rules concerning campaign contributions.
highhopes on September 14, 2007 at 11:47 AM
Warning —>This link a Word Doc –
This what the above is referring to -Bill Clinton speaking:
Topsecretk9 on September 14, 2007 at 12:05 PM
More info
Hsu is legit
Yesterday, the campaign insisted it did all it should to vet Hsu after California businessman Jack Cassidy warned in June that Hsu’s investment operation was fishy. Cassidy e-mailed his tips to the California Democratic Party, which forwarded them to the Clinton campaign.
Cassidy did not want to talk about the case, saying he doesn’t want to jeopardize the FBI’s efforts. But he wants Hsu prosecuted. He told The News that Hsu was a reverse Robin Hood – “a hood robbin’ the poor to give to the rich.”
They knew [about Hsu], and they knew back in June,” a source told The News.
Cassidy raised a red flag after a friend came to him with a tale of being offered 64% annual returns by Hsu.
“It was either predatory lending or a Ponzi scheme,” the source said, adding that the FBI had interviewed Cassidy and took as evidence numerous e-mails he sent to political officials about Hsu.
Camp Clinton never responded to Cassidy, but dealt with the worried California party members. According to the Los Angeles Times, Clinton’s Western finance director, Samantha Wolf, e-mailed, “I can tell you with 100% certainty that Norman Hsu is NOT involved in a Ponzi scheme,” adding, “He is COMPLETELY legit.”
William Amos on September 14, 2007 at 12:22 PM
Why the f*&k do these idiots keep granting him bail? He’s not an accused, he’s a fugitive, a convicted criminal on the lam. He has NO right to bail.
mojo on September 14, 2007 at 12:45 PM
Throw that on top of this and you get quite the clear picture of the Clinton’s degree of corruption.
http://www.usjf.net/modules.php?op=modload&name=News&file=article&sid=359&mode=thread&order=0&thold=0
doriangrey on September 14, 2007 at 12:46 PM
When a liberal campaigns it’s free speech. When a conservative campaigns it’s evil special interests.
pedestrian on September 14, 2007 at 1:08 PM
dont forgot the juicy stuff.
It was either predatory lending or a Ponzi scheme,” the source said, adding that the FBI had interviewed Cassidy and took as evidence numerous e-mails he sent to political officials about Hsu.
and this
Wolf no longer works for the campaign. Wolfson declined to explain her departure. He also refused to discuss how Hsu insinuated himself into Clinton’s good graces, to identify who was his primary contact or explain how the campaign handled him.
Hsu-raised cash also went to Clinton’s Senate campaign and political action committee. Wolfson said the ‘08 campaign was working on what to do about that
William Amos on September 14, 2007 at 1:59 PM
For that I reference the email from the Colorado DA:
As much as I’d like to see the guy held without bail after his initial skip, it’s just not feasible.
darury on September 14, 2007 at 2:44 PM
Reid’s connection to Hsu is also coming to light and how deep it goes.
FireFly on September 14, 2007 at 3:54 PM
Hsu is just rucky he aint in an Arkansas jail.
TheSitRep on September 14, 2007 at 4:21 PM
Yes. Extraordinarily lucky he chose to fall ill in Colorado, given the bail situation.
RD on September 14, 2007 at 6:40 PM
Horse puckey. How do I know?
He didn’t reference the Colorado statute.
mojo on September 14, 2007 at 9:53 PM
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