Obama returns donation from accused Ponzi schemer

Politico:
The Obama campaign will return the donations of an accused Ponzi schemer who is facing an SEC investigation, a campaign official confirms.
"With 1.8 million donors thus far, we constantly review those contributions for issues. In this particular case, we will be refunding the contributions and have placed the funds in escrow until a trusteeship or other appropriate place to return these funds is established given the interests of the investors," a campaign official told POLITICO.
Shervin Neman, a hedge fund manager in Los Angeles, stands accused by the SEC of defrauding members of his California Persian-Jewish community, the conservative Washington Free Beacon reports.
According to the SEC complaint, Neman was running a $7.54 million Ponzi scheme that defrauded at least 11 investors. According to the SEC, 99 percent of the money raised by Neman went to paying existing investors or "funding his lavish lifestyle."
According to public records, Neman gave the maximum $35,800 donation to the Obama campaign and another $30,800 to the Democratic National Committee. He is also a donor to the Democratic Congressional Campaign Committee, Sen. Dianne Feinstein (D-Calif.) and Sen. Sheldon Whitehouse (D-R.I.).
... 
The accused donor also had a visit to the White House. These kind of visits enhance the credibility of the perps in a Ponzi scheme and make it easier for them to keep their con going.  The story suggest to me that Obama's fund raising has become desperate and frenetic.  I don't think they spend much time vetting people who are bringing in checks.  I still think they are soliciting illegal foreign contributions by not requiring authorization codes on credit card contributions.  I have seen emails to foreign nationals from their 2008 campaign and I suspect the same thing is happening now.

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