By  on May 8, 2009

Norman Hsu, a former men’s wear manufacturer and major Democratic fund-raiser, pleaded guilty Thursday to federal charges of defrauding investors of at least $20 million in a Ponzi scheme.

Hsu pleaded guilty in Manhattan federal court to five counts of mail fraud and five counts of wire fraud. He also is accused on four additional campaign finance fraud counts and faces trial on those charges starting May 11.

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