Running A Long Con?

The Los Angeles Times continues to dig at the Norman Hsu story. Today they describe a man who was apparently very, very good at winning people's confidence - and left a long string of disgruntled investors in the wake of his long career.

It was only recently that serious doubts began to emerge. "Now we realize that this was all part of his persona," a senior campaign aide said, requesting anonymity because he was not authorized to discuss details of the case.

Hsu's business activity "was reinforced by his efforts in politics and philanthropy," the aide said. "He seemed like a generous guy, but only later did you realize what he was up to."

The Clinton campaign was not alone. Dozens of politicians — along with clusters of private investors from Orange County and the Bay Area to New York — tell much the same story about the man who now sits in a Colorado jail, facing new investigations by local and federal authorities.

For all who did business with Hsu, the pattern is remarkably consistent: an initial attraction to a likable individual who offered the moon, followed by disillusionment and feelings of betrayal — sometimes tinged with embarrassment at having been gullible.

Many questions remain about Hsu's often murky career. How could he rise to such heights, given that he had been a fugitive on a felony grand-theft charge since 1992? Why did no one ever dig into the background of a benefactor who seemed to emerge from nowhere? Exactly where did the hundreds of thousands of dollars that he showered on politicians come from?

This is going to take a long time to sort out. But it certainly looks very much like a pattern one would see in a "long con". Ingratiate yourself, earn the mark's trust through flamboyant gifts and assume the airs of a lavish lifestyle. Once the hook is set, take the mark for every dime possible.