Fugitive Norman Hsu's Forty Million Hoodwink

Yoink! The Wall Street Journal has discovered the intriguing source of Norman Hsu's seemingly limitless cache of campaign contribution cash. Hsu was largely financed by an investment fund run by Woodstock co-founder Joel Rosenman. How much did Rosenman's fund uwittingly put up for Hsu's political gallivanting? A cool $40 mil.

Hsu was most recently a fugitive on the run, but before he became known as the convicted felon who jumped a $2 million bail, he bumped shoulders with prominent democrats, including Hillary Clinton. All told, he personally contributed $750,000 to various Democratic causes. He also raised over $850,000 by fêting campaign contributors at art museums and high-end restaurants.

Hsu "has an extraordinary ability to deceive," says a lawyer representing Rosenman. He was able to convince Rosenman to invest in luxury goods made in China. These goods were purported to include Gucci, Prada, and other high-profile private labels. Ironically, just a few days ago, BNET1 reported on the growth of luxury goods manufacture in China. I swear I'm not an oracle!

Yoink! image by Anosmia