Norman Hsu, a businessman and Democratic fundraiser was charged with violating campaign finance laws and orchestrating a 60-million-dollar fraud scheme, prosecutors said Thursday.

According to a complaint unsealed Thursday in New York, Hsu pressured several investors to direct large sums of money to the funds of candidates running for president and to congressional candidates.

Hsu stood behind a so-called “Ponzi scheme,” as the managing director of two companies in the apparel industry. As part of this pyramid scheme, Hsu would attract new investors with profitable deals, which later turned out to be “phony” as he actually used the money to pay previous investors.

The 56-year-old man was charged on one count of mail fraud and wire fraud along with another count of violating the Federal Election Campaign Act. He faces 20 years in prison for each of the fraud charges and five for the campaign finance charge, if convicted.

In 1992, Hsu was convicted of fraud and managed to dodge justice until last month, when the Wall Street Journal dug up his tainted past and the illegal donations to the campaign of Senator Hillary Rodham Clinton.

Specialists said Hsu managed to raise about 850,000 dollars for the Clinton campaign, as the senator pledged last week to return the money.

After the reports revealing that he was a fugitive for 15 years surfaced, Hsu was detained at the end of August in San Mateo, California. A 2-million-dollar bail was set for his release, but after Hsu was free he fled again, instead of appearing in court.

He was once more arrested earlier this month by FBI agents in Grand Junction, Colorado. He suddenly fell ill while on a train in Colorado and was taken to the local hospital.

The Hong Kong-born said due to a “mental” and “physical breakdown” he mistakenly boarded the train that took him out of the state and couldn’t attend the court session in San Mateo.