Why isn't this story plastered all over the news??? Instead they have to cover Palin's daughter.



Biden's Son, Brother Named in Two Suits


Link


By Kimberly Kindy and Joe Stephens
Washington Post Staff Writers
Sunday, August 24, 2008; Page A09

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.

Hunter Biden is one of many children and relatives of prominent members of Congress who have made their careers as lobbyists. He returned to lobbying after less than a year with Paradigm.

Lotito's lawsuit alleges that James Biden called him in January 2006 to arrange a job for Hunter Biden. It says James Biden told him that his brother (Sen. Biden) "was concerned with the impact that Hunter's lobbying activities might have on his expected campaign for the 2008 Democratic presidential nomination," and, "Biden told Lotito that, in light of these concerns, his brother had asked him to seek Lotito's assistance in finding employment for Hunter in a non-lobbying capacity."

Lotito does not provide any direct evidence of the senator's involvement and offers no witnesses to the assertion.

The campaign of Sens. Barack Obama and Biden declined to comment on the case, referring questions to Nicholas Gravante Jr., a lawyer representing Hunter and James Biden. Gravante said assertions that Joseph Biden told his brother he was concerned about his son's lobbying are "absolutely false."

"This lawsuit has nothing to do with Joe Biden, and there is absolutely no truth to those allegations," Gravante said. "It is a business dispute between former partners. The suit is baseless."

Brian C. Wille, an attorney for Lotito, said the lawsuit alleges no wrongdoing by Sen. Biden, only that his concerns set in motion the business deal.

"There was a concern that Hunter Biden's role as a lobbyist would have an impact on the senator's proposed presidential run," Wille said. "That's what James Biden told Mr. Lotito. . . . Was it true? Who knows? There is no allegation the senator was involved in any of these events."

In an affidavit, Hunter Biden said his father had nothing to do with the deal and that it is Lotito who swindled the Bidens.

He said Lotito lied about being a "fully licensed and accredited securities professional" with hedge fund experience.

In addition, he said Lotito recommended a lawyer to vet the business deal who was under investigation and was ultimately convicted on several felony charges of conspiracy and wire and mail fraud in a scheme to steal millions from a computer company.

In the hedge fund business deal, Lotito and the Bidens created a company called LLB Holdings USA and together agreed to pay $21.3 million for 54 percent interest in Paradigm.

In the lawsuit, Lotito said that soon after creating LLB, the Bidens crafted a "secret deal" to create their own company that was designed to buy out his shares in Paradigm for a low rate, to which he agreed. He said he knew nothing of the secret deal until later and now believes he was defrauded out of millions of dollars and his share in the company.

In the second lawsuit against the Bidens, which was filed in June, Lotito is also named as a defendant. Stephane Farouze, now an executive with Deutsche Bank, seeks $10 million, saying the Bidens and Lotito promised to buy his shares in the hedge fund company but reneged.

Doh!

The first time I looked at the title, I read "Palin's son, brother" and was wondering how Track would have become mixed up in anything like that.  

With Biden, it's pretty easy to understand.

but bristol is pregnant!

Lets focus on the real issues, here.

They are complete Hypocrites!

Well, this explains the other thread qouting Biden as saying kids should be off-limits, Palin is qualified to be VP and being a governor is no mean feat.  

This has been out the for weeks but the press has pretty much ignored it.

[DU Troll] Well Sarah Palin’s husband got a DUI....so it balances out [/DU Troll]

I am sure Hunter got his job as a lobbyist based upon his much higher IQ and full scholarship at law school.

Gee, hope and change indeed.

hypocracy at it's best.

Check this out:


Google News search for "Hunter Biden hedge fund defrauding": 130 entries


Google News search for "Palin's daughter pregnant": 6119 entries


In addition, the Biden son/father story has not been covered on mainstream TV news since Biden was nominated, if at all. I have my office TV on CNN and Fox all day and it has not been mentioned one time. However the Plain's daughter story is one of the top stories in every news cycle on both CNN and Fox.

This one hasn't been mentioned on mainstream TV news either:




Joe Biden Tied to Rezko Fraud Figure

Quoted: This has been out the for weeks but the press has pretty much ignored it.

JFK had bad brothers

Nixon's brother was no asset to his Presidency

LBJ's relatives included some less than stellar characters.

Let's not forget Billy Carter

both Hilarious and Bilious had loser relatives.

the press hasn't been ignoring it , more of covering it as business as usual been there done that.

Theft does not violate Democratic Party principles.  Therefore, this isn't news.

I am shocked that the media wouldn't be all over this.  

 

BTT for all the DU Trolls...

AC

p.s.  Wow, no word of this from anyone in the press.  I wonder why????

Obviously the fact that Joe Biden went back to the Senate after the death of his first wife rather than staying home with his son led to the boy turning to a life of crime...

Isn't this about the 5 billionth ARFCOM thread about Bidongate?

Ever since Obama picked Biden, the mainstream media has been going on and on about this story, non-stop - What did Obama know about Biden and when did he know it; Biden wasn't vetted thoroughly enough, Biden has a long history of plagiarizing and padding his credentials, blah, blah, blah...

This story has literally been beaten to death - Give it a rest already!

There is no new here folk's keep moving along........(If you know what is good for you).

Quoted: Quoted: This has been out the for weeks but the press has pretty much ignored it. JFK had bad brothers Nixon's brother was no asset to his Presidency LBJ's relatives included some less than stellar characters. Let's not forget Billy Carter both Hilarious and Bilious had loser relatives. the press hasn't been ignoring it , more of covering it as business as usual been there done that.

Baloney the press has been ignoring it.

This story involves Biden and his political influence via his son’s business.

Do NOT bump this thread.  We cannot let this stuff get out into the MainStreamMedia!

Gee having a child or being investigated for federal felonies...which one is worse ?

If one has real evidence, get it to the SEC: they're into this sort of thing.

Did you guys not understand what I wrote?  Do not post in this threat, doing so will bring it back to the top of the forum and only encourage more people to read it and possibly share it with their friends.

Stop posting in this thread!

Did you guys not understand what I wrote? Do not post in this thread, doing so will bring it back to the top of the forum and only encourage more people to read it and possibly share it with tell it to their friends.

Stop Quit posting in this thread!

I, like Joe Biden, am smarter than all of you, have a higher IQ, and I wrote this post all by myself without plagiarizing from anyone, such as txgp17.

You'll never hear that on MSM.

The press is masturbating to what they perceive as a flaw in Palin as a candidate while ignoring the same on the Democratic ticket.



I'm shocked.


- BG

And the Anbar province has been handed over to the Iraqis.


What else won't they (MSM) tell?

He is a democrat so it does not matter.  Only Republicans must be lily white (record that is).

Quoted: Why isn't this story plastered all over the news???

Oh but it IS plastered all over the news....

Biden's Son, Brother Named in Two Suits Link By Kimberly Kindy and Joe Stephens Washington Post Staff Writers Sunday, August 24, 2008; Page A09 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. . . .

It's plastered all over page 9.

Hey! Did ya' hear that Joe Biden was casting Senate votes favorable to banking, investment, and credit card companies at the same time his son (a career lobbyist) was receiving huge (and very questionable) payments from MBNA and Paradigm Companies LLC?!??

No? You hadn't heard that?

Well that's because you're listening to CNN/NBC/MSNBC/CBS/ABC/DNC/NYTimes/USAToday/LarryKing/GoodMorningAmerica/ObamaCampaignOperatives....


So now - back to the Palin attacks!

This says a lot about Biden's parenting skills.

Oh teh NOES!! And his daughter too!!!?

From 2002: CHICAGO (AP) - The daughter of Sen. Joseph Biden, D-Del., was arrested on a misdemeanor charge of obstructing a police officer early Saturday, police said. Ashley Blazer Biden, 21, of Wilmington, Del., was with a group of people on a North Side street where several bars are located when someone else threw a bottle at a police officer, police said. When officers went to arrest another person, Biden blocked the officer's path and made intimidating statements, Officer JoAnn Taylor said. Biden was arrested on suspicion of obstructing a police officer. She was released from custody and is scheduled to appear in court Sept. 20. Sen. Biden's spokeswoman, Margaret Aitken, declined to comment Saturday, calling it a private, family matter.

Waiting for the charges in the Mainstream Media that Joe Biden is a "hypocrite" for having a son accused of bank fraud and a daughter arrested for obstructing police.

Waiting....


Waiting.............



Waiting...................................

Quoted: Oh teh NOES!! And his daughter too!!!? From 2002: CHICAGO (AP) - The daughter of Sen. Joseph Biden, D-Del., was arrested on a misdemeanor charge of obstructing a police officer early Saturday, police said. Ashley Blazer Biden, 21, of Wilmington, Del., was with a group of people on a North Side street where several bars are located when someone else threw a bottle at a police officer, police said. When officers went to arrest another person, Biden blocked the officer's path and made intimidating statements, Officer JoAnn Taylor said. Biden was arrested on suspicion of obstructing a police officer. She was released from custody and is scheduled to appear in court Sept. 20. Sen. Biden's spokeswoman, Margaret Aitken, declined to comment Saturday, calling it a private, family matter. Waiting for the charges in the Mainstream Media that Joe Biden is a "hypocrite" for having a son accused of bank fraud and a daughter arrested for obstructing police. Waiting.... Waiting............. Waiting...................................

Wow the press no doubt had to know this all week when attcking the Palin family

This sure is'nt getting the coverage that Palin's daughter is getting!!!!!

Fuck the media!!!

Obama is even dirtier.  If he is elected there will be several criminal investigations within a year.  

bump