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Hsu turns himself in

From NBC's Domenico Montanaro
Democratic fund-raiser Norman Hsu has turned himself into police in California for a 15-year-old outstanding warrant. The Los Angeles Times, which first reported that Hsu was a fugitive, reports: "Prosecutors in California said Hsu disappeared in 1992 after pleading no contest and agreeing to serve up to three years in prison for defrauding investors in a Ponzi scheme."

San Mateo Sheriff's booking photo of Norman Hsu.

Hsu, who a judge ordered handcuffed, faces a grand theft charge. He is being held on $2 million bond. A bail hearing is scheduled for Sept. 5th, where a judge may consider reducing his bail to $1 million.

Hsu signed on to be a Clinton "HillRaiser," a group of individuals who pledged to raise at least $100,000 for the New York senator's presidential run. He has helped raise or donate money for many Democrats, including Clinton (during her presidential run), Obama (during his 2004 U.S. Senate run) and New York Gov. Eliot Spitzer.

Here's a statement from Hsu's attorney, Jim Brosnahan, released today: "The 15-year-old legal matter that Norman Hsu has is moving toward resolution. We arranged for him to appear in court and put up monies for bail, which can also be used for restitution to any persons who might still be unpaid. We have had productive preliminary conversations with the Attorney General's office concerning resolution of this old matter. "

**** UPDATE **** Per NBC's Andrew Merten, Speaking to reporters today at the New York state fair, Clinton said she believes Norman Hsu has "done the right thing" in turning himself in to California authorities.