Mezvinsky's $325 million basket of offshore funds under the Eaglevale Partners hedge fund lost tens of millions of dollars. Mezvinsky's exclusive Greek debt fund suffered near-total losses....and ended up shuttering the disastrous hedger.
Not to worry--the Clintons still have the $325 million Greek investor funds stashed.......somewhere.
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It takes a special kind of stupid for Mezvinsky to drop that much cash trading on good inside information ... then again, "special kind of stupid" sure does describe the Mezvinsky family. Read on.
Chelsea's FIL, Ed Mezvinsky, is a former Democratic congressman; he sat on the House Judiciary Committee that decided the fate of Richard Nixon. He was outspoken, saying that Nixon was a crook and a disgrace to politics and the nation and should be impeached.
Later, Mezvinsky served seven years in a federal prison for stealing money from his friends, family and associates through a series of crude Nigerian-based scams. Sap-happy Mezvinsky was targeted as a likely subject for the infamous Nigerian black ink scam.
Edward, a lawyer, was married when he met Chelsea's MIL, Marjorie----they soon got married---but divorced after Edward got conned into several notorious Nigerian-based email financial frauds guaranteed to make you rich.
In his haste to get rich quick, to raise money to get in on these "heaven-sent" investment schemes, Edward defrauded many of his friends and business contacts.....including Marjorie's mother.
Alas, when the Nigerians got their hands on Ed's money, they did a 23-skidoo. Having failed to come up w/ payback, Edward got nabbed by the long arm of the law. Mezvinsky pleaded guilty to 31 of 69 felony counts. He did hard time----spent 7+ years in a federal prison w/ no chance of parole, and still owes $10 million in restitution.
Democrat Congressional 2014 candidate Marjory Margolies is also no stranger to the dollar disease. Because of her husband's felony convictions, she filed for bankruptcy. But the court would NOT discharge her of her debts, finding that she could NOT explain where some $1 million in assets had vanished, in the previous 4 year span...during Mezvitsky's crime spree.
In their heyday, Ed Mezvinsky and then-wife Marjorie, herself a former Democratic congresswoman from Pennsylvania (an ex-TV reporter---and recent election loser), were part of the political and social elite in Philadelphia.
The Mezvinskys were close to Bill and Hillary Clinton and were frequent guests at the White House. Prosecutors say Mezvinsky exploited his ties to the Clintons, including his son's relationship with Chelsea, to woo investors to contribute more money to the Nigerian schemes.
In an interview with Des Moines Register from prison in 2003, Mezvinsky said he found the notoriously fraudulent Nigerian Black Ink scam "convincing."
"The Nigerian man came out with a chemical, threw it on the money, and it all turned to $100 bills. He gave me 10 to have them tested back home. And they were real," Mezvinsky told a reporter.
LOSSES GALORE: 2014 candidate Marjorie was flacked by the Clintons but lost her bid to get back into Congress.
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REFERENCE Mezvinsky, who married Chelsea Clinton in 2010, founded the investment firm Eaglevale Partners two years later with the help of Goldman Sachs CEO Lloyd Blankfein, a prominent Hillary Clinton supporter. Billionaire investor and Democratic mega-donor Marc Lasry was also an early investor in Eaglevale.
Since its inception, Eaglevale has posted what the New York Times described as “uneven performance.” Mezvinsky’s financial trouble is unlikely to concern wife Chelsea, who has said she could never bring herself to care about money. That didn’t stop her from turning down a $600,000 annual salary at NBC News to do basically nothing except interview the Geico gecko from time to time.
The money-losing couple lives in a luxury $10 million luxury condo in Manhattan’s trendy Flatiron District.
He said this? Are you kidding me?????