Fraudster Stanford had links to hedge fund run by VP Biden's son and brother
Reuters on Yahoo | 2/23/09 | BY Ajay Kamalakaran
(Excerpt) Read more at news.yahoo.com ...
FR Posted 02/23/2009 by NormsRevenge
(Reuters) – A fund of hedge funds run by two members of VP Joe Biden's family was marketed exclusively by firms controlled by Texas financier Allen Stanford, charged by regulators with an $8 billion fraud, the Wall Street Journal said.
The $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and a Stanford Financial Group entity, and was known as the Paradigm Stanford Capital Management Core Alternative Fund, the paper said.
Stanford-related companies marketed the fund to investors and also invested about $2.7 million of their own money in the fund, the paper said, citing a lawyer for Paradigm. Paradigm Global Advisors is owned through a holding company by the vice president's son, Hunter, and Joe Biden's brother, James, according to the paper.
Paradigm's attorney, Marc LoPresti, who represents Hunter Biden and James Biden, as well as Paradigm, told the paper he did not know which Stanford entity invested the roughly $2.7 million.
He told the paper the Bidens never met or communicated with Stanford.
And then he said........."duh."
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Not to fret----this'll cheer you up.
Obama Says He's Appointed Biden to Oversee Implementation of Stimulus Plan
FoxNews | 2/23/2009 --- FR Posted by Danae
"Hi there, Americans. My son and my brother
are gonna help me with the trillion dollar stiumulus."