Democratic fund-raiser Norman Hsu will have to post a cash bond of $5 million for his bail, according to an order issued by Mesa County Judge Bruce Raaum. Hsu was arrested on Wednesday night at the St, Mary's Hospital where he was admitted after he took ill near Grand Junction.
Mesa County District Attorney Pete Hautzinger told the court that Hsu is also implicated in two more fraud causes besides the 15-year one which involved $1 million in California. The fresh allegations are reported to involve sums of $33 million in California and $40 million in New York.
Hsu's lawyer, Eric Elliff said his client was willing to waive extradition so he could get to California quickly. However he added that the bail amount was hefty.
“That's a lot of cash for anyone to come up with,” he added. “He's anxious to return to California to faces the charges against him.”
Hsu was a flamboyant fundraiser for the Democrat Party before allegations of fraud surfaced against him. Senator Hillary Rodham Clinton of New York has now returned $850,000 raised by Hsu for her Presidential campaign.
The 56-year-old Hsu surrendered on August 31 and was asked to appear in Redwood court last week to surrender his passport and also post $2 million bond. However he failed to turn up leading to a massive manhunt against him, which culminated in his arrest on Wednesday.
