Posted on 08/24/2008 11:07:27 AM PDT by freespirited
A son and a brother of Sen. Joseph R. Biden Jr. (D-Del.) are accused in two lawsuits of defrauding a former business partner and an investor of millions of dollars in a hedge fund deal that went sour, court records show.
The Democratic vice presidential candidate's son Hunter, 38, and brother James, 59, assert instead that their former partner defrauded them by misrepresenting his experience in the hedge fund industry and recommending that they hire a lawyer with felony convictions.
The legal actions have been playing out in New York State Supreme Court since 2007, and they focus on Hunter and James Biden's involvement in Paradigm Companies LLC, a hedge fund group. Hunter Biden, a Washington lobbyist, briefly served as president of the firm.
A lawsuit filed by their former partner Anthony Lotito Jr. asserts in court papers that the deal was crafted to get Hunter Biden out of lobbying because his father was concerned about the impact it would have on his bid for the White House. Biden was running for the Democratic nomination at the time the suit was filed.
Hunter Biden was made president with an annual salary of $1.2 million, despite his inexperience in the hedge fund industry, the lawsuit said. Before that, he had been part of the Washington law firm Oldaker, Biden & Belair, which earned $1.76 million in lobbying revenue in the first half of 2006, according to Congressional Quarterly's CQ MoneyLine. One of its biggest clients is the National Association of Shareholder and Consumer Attorneys, a District-based group representing law firms specializing in investment and corporate law.
(Excerpt) Read more at washingtonpost.com ...
You mean that's unusual?
/sarc
There was a thread on this a few weeks ago.
What surprises me is that the Washington Post is printing this story now.
The Clintons and others might be behind this or the Washington Post doesn’t want Obama in the White House; or think this will be lost in the background of the Democratic convention.
Chelsea must be so annoyed. She didn’t get over a million dollar salary to start.
Or did she?
That is the way it works. The Senator’s or Rep’s relatives cash in.
I have the feeling that the selection of Joe Biden will be the gift that keeps giving to John McCain.
Isn’t it ironic that Barry Hussein chooses as a running mate a political hack from Delaware, the capital of credit card companies that practice usury against the stupidest of the poor?
There really should be an investigation of Biden’s connection to the banks and credit card industry in his state.
apples don’t fall far from the tree! especially the rotten ones!
apples don’t fall far from the tree! especially the rotten ones! Son was made president of a hedge fund worth millions despite his inexperience. Obama and Biden are made for each other, with Bidens moronic arrogance and the pompus a## Obama’s inexperience. this is a match made in liberal marxists heaven!
apples don’t fall far from the tree! especially the rotten ones! Son was made president of a hedge fund worth millions despite his inexperience. Obama and Biden are made for each other, with Bidens moronic arrogance and the pompus a## Obama’s inexperience. this is a match made in liberal marxists heaven!
apples don’t fall far from the tree! especially the rotten ones! Son was made president of a hedge fund worth millions despite his inexperience. Obama and Biden are made for each other, with Bidens moronic arrogance and the pompus a## Obama’s inexperience. this is a match made in liberal marxists heaven!
Oh My
The Obama/Biden ticket will need to be dunked in the sheep dip tanks to clean up....
Perhaps B-HO figured that Biden's countless skeletons/blunders would divert considerable attention away from himself.
Since the Dems are trashing Sarah Palin for being a working mom, and screaming "scandal" at her daughter getting married and having a family, we are now authorized to attack the family of Joe Biden.
The Biden family has now been shown as a cesspool of government graft, corruption, illegal bribes and kick-backs. It's time for the Justice Department to announce a RICO investigation of the entire Biden family.
This is the kind of corruption in government Sarah Palin has been successfully fighting, and she should target Biden while pointing that out in every one of her speeches from now on.
Bump for equal time
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