New York Times reporter Mike McIntyre has gotten access to one month's financial records for Norman Hsu.

The records show that Components Ltd., a company controlled by Mr. Hsu that has no obvious business purpose and appears to exist only on paper, has paid a total of more than $100,000 to at least nine people who made campaign contributions to Mrs. Clinton and others through Mr. Hsu. The payments occurred in the spring of 2003, several months before Mr. Hsu emerged as a contributor to Democrats and more than a year before he started bundling checks from those same people for various campaigns. In all, he has raised more than $1 million for Democrats.

The records make clear that the group was more than just a loose collection of friends, family and co-workers that bundlers typically rely on when raising money for a candidate. Rather, each person had a direct financial relationship with Mr. Hsu, either receiving money from his company or paying into it, even though many of them appear to have other jobs or businesses independent of him. The purpose of the payments, and whether they related to business costs, fees or expenses, is unclear.

The records included a bank statement and a set of canceled checks for Components Ltd. that were made available to The New York Times for review by someone associated with Mr. Hsu. Because they covered only a single month in 2003, it could not be determined if the pattern of payments to the nine people was a singular occurrence, or continued closer in proximity to the hundreds of thousands of dollars in contributions that Mr. Hsu eventually bundled.

It's clear that there was some very shady financial hocus-pocus going on to garner the donations that Hsu bundled and gave to Democratic politicians. The mystery still remaining is where the money came from. There is no indication that he was actually earning any money to use to shell out to the dummy donors.

This content was used with the permission of Betsy's Page.