Gone are the days when Norman Hsu was flying by corporate jet and buddying up to the nation's top politicos at exclusive dinners and receptions for top givers.

Now he's facing charges that he bilked investors across the country of more than $60 million, which he funneled into political coffers in violation of federal election law.

A complaint unsealed in federal district court in Manhattan today charged Hsu, 56, with conducting a Ponzi scheme to use money collected from new investors to pay older investors, and of funneling tens of thousands of dollars to various presidential and congressional candidates.

Among those closely tied to Hsu, an apparel industry executive, was Democratic Senator Hillary Clinton of New York, who gave back the funds Hsu had donated and cooperated with the investigation, authorities said.

The complaint, filed by Michael J. Garcia, U.S. Attorney for the Southern District of New York, charged Hsu with one count each of mail fraud and wire fraud and one count of violating the Federal Election Campaign Act. The mail and wire fraud charges each carry up to a 20-year prison upon conviction, and the campaign charge a five-year term.

In addition to recruiting investors by guaranteeing high rates of return on short-term investments, Hsu also pressured them for political donations to preserve their access to him. Hsu also illegally reimbursed others for political contributions they made on his behalf, the complaint noted.

Hsu, who could spend the rest of his life in jail, was enjoying the high life on other people's money, according to items found in an F.B.I. search of his belongings Agents found receipts for nationwide travel by corporate jet as well as a Cartier watch and Tiffany jewelry - plus thousands in cash and financial records reflecting large-scale investments.

One investor listed in the complaint gave Hsu a $50,000 check in March 2003, and was repaid $57,000. That person, identified only as Victim 1, then created an investment fund with friends that channeled more than $40 million to Hsu.

However, when Victim 1 heard reports last month of Hsu's past legal troubles, he tried to cash a $1 million check from Hsu, but the bank would not accept it, according to the complaint.

There was no immediate comment from Hsu or his lawyer. Hsu, who faces having to pay a substantial fine if convicted, appeared Wednesday in a Colorado court where he did not fight extradition to California. There he faces an outstanding 1992 warrant for a conviction stemming from a separate $1 million fraud scheme.

by Elizabeth Olson