- WND - http://www.wnd.com -

Obama fundraiser pleads guilty to swindling millions

(Miami Herald) Claudio Osorio, the former globe-trotting executive who had headed a Fortune 500 company, faces up to 30 years in prison after pleading guilty to stealing millions of dollars from investors in his ill-fated venture to build low-cost housing in Haiti and other developing countries.

Osorio, a Venezuelan native who once held fund-raisers for Hillary Clinton, Barack Obama and other political heavyweights at his Star Island home, pleaded guilty Thursday to three conspiracy offenses involving wire fraud and money laundering.

The two fraud convictions carry up to 20 years and the laundering conviction up to 10 years. But Osorio, 54, is expected to be imprisoned for 12 or more years under federal sentencing guidelines at a hearing set for May 9.