[Ed. – It goes back further than we remember.]
Late Summer 2006: Hunter Biden and his uncle, James Biden, purchase the hedge fund Paradigm Global Advisors. According to an unnamed executive quoted in Politico in August, James Biden declared to employees on his first day, “Don’t worry about investors. We’ve got people all around the world who want to invest in Joe Biden.” At this time, Joe Biden is months away from becoming chairman of the Senate Foreign Relations Committee and launching his second bid for president.
The unnamed executive who spoke to Politico charged that the purchase of the fund was designed to work around campaign-finance laws …
January 5, 2007: Lotito sues James and Hunter Biden, contending that they cut him out of the purchase of Paradigm Global Advisors. Lotito’s suit claims that the firm is paying Hunter Biden an annual salary of $1.2 million. While Biden has worked for MBNA, he has never worked for a hedge fund or investment firm before.