IS JOE BIDEN EVEN MORE CORRUPT AND
$ELF-$ERVINING THAN OBAMA THE CLINTON CRIME DUAL?
"Along with Obama, Biden, Pelosi and
Schumer are responsible for incalculable damage done to this country over the
eight years of that administration." PATRICIA McCARTHY
Federal Lawsuit: Joe Biden’s Brother Accused of Defrauding Rural Healthcare Company
7:02
Former Vice President Joe Biden’s younger brother, James, is being accused of defrauding a Tennessee rural healthcare company.
A lawsuit filed in federal court late last month alleges James Biden, who has a history of murky financial dealings, and his associates deceived and defrauded two Tennessee businessmen.
Michael Frey and his business partner, Dr. Mohannad Azzam, brought the suit claiming James Biden and his associates promised and failed to line up investors for their rural healthcare enterprise. Instead, the suit alleges, James Biden urged the two men to borrow $10 million from a hedge fund manager involved in the deal and then proceeded to pass their idea off as his own to a conglomerate of Turkish investors.
“The lawsuit takes direct aim at Biden, painting him as a con artist who uses his ties to his brother — now a Democratic candidate for president — to lure his victims,” the Knoxville News Sentinel reported.
According to documents filed with the U.S. District Court, Frey and his wife developed a business model to take over rural hospitals and retrofit them to not only offer traditional hospital care, but also drug addiction and mental health treatment. After incorporating the enterprise as Diverse Medical Management, they brought on Azzam, “who contracted with nursing homes to provide medical care for seniors.”
The business model was lucrative enough that by 2017, Frey and Azzam were actively pitching it to investors and hospitals across the country. One investor particularly taken with the idea was Americore Health, an operator of rural hospitals.
At the behest of Americore CEO, Grant White, Frey and Azzam were urgd to pitch their business plan to rural hospitals in Kentucky. It was at one such meeting where the two men met James Biden, who identified himself as a “principal” at Americore.
Not long after their initial encounter, James Biden introduced the men to Michael Lewitt, a hedge fund manager and well-known “credit strategist.” Around this time, Americore made plans to buy Diverse Medical for the sum $7 million.
Despite the deal, Americore quickly fell behind on its scheduled payments to Frey and Azzam. It was then that James Biden and Lewitt, as detailed in the lawsuit, hatched a plan to oust White and sell Americore along with Diverse Medical to a third company called the Platinum Group.
Biden or Lewitt’s role within the Platinum Group is unclear. The organization, which is little-known and has no social media presence, is likely a holding company specifically set up for the purchase of Americore.
Frey and Azzam appear to have been uncomfortable with turn the deal took, especially the notion of removing White. The men, though, went along with the plan after being told a payout was “imminent.”
“They repeatedly assured (Frey) that investment capital originating from and flowing through foreign entities was not only certain, but was imminent,” documents filed by Frey and Azzam’s attorney state.
James Biden is alleged to have put the men at ease by playing up his political connections. The lawsuit reads:
Biden promised (Frey’s) Intensive Outpatient Model would play an integral role in health care policy at the highest levels of the United States government.
Since the deal had evolved to include the purchase of Americore, Frey and Azzam were encouraged to take a $10 million loan — part of which would came from Lewitt’s hedge fund — to expand their business. Frey and Azzam claim the loan was taken with the understanding it would be repaid by money brought in from new investors.
Throughout the entire process, the suit states, James Biden was promising investment capital was forthcoming. As more time elapsed and new investors failed to materialize, Frey and Azzam became suspicious they were being set up. Those feelings only intensified when James Biden inadvertently sent Frey a text message about their company meant for someone else in November 2018.
“We can wrap a/c into Frey’s entity further diluting them both in the process? After we take control of both. Just a thought,” the purported text from James Biden reads, as included in the lawsuit. “We must have complete control, too many moving pieces. Jim.”
When asked to explain, James Biden demurred and requested more information on Diverse Medical and the range of healthcare services offered. Even though they provided the information, Azzam and Frey’s suspicions were only further heightened.
The final breakdown in the relationship occurred when the men learned that Biden and Lewitt had left them out of the picture when selling the deal in Turkey. Although, Azzam and Frey knew their business model was being pitched to the “Qatar Investment Authority in Turkey,” they were unaware the documents presented to investors by James Biden and Lewitt were scrubbed clean of the Tennessee businessmen. The lawsuit says:
On January 23, Platinum Group … and Biden submitted a White Paper … outlining ‘Platinum Group Diverse Medical Management (PGDMM)’s business model. What the investors were not told, however, was that this white paper was drafted by (Frey and Azzam) and sent to Biden … Platinum Group simply replaced all references to Plaintiffs with PGDMM, a non-existent entity.
When Frey and Azzam attempted to reassert control over their business, the lawsuit alleges that Lewitt demanded repayment of the money his hedge fund loaned them.
It is unclear if the lawsuit will progress or if James Biden and Lewitt will choose to settle given the high-profile nature of the allegations and the impact they may pose to Joe Biden’s presidential campaign.
This is not the first time that James Biden’s business dealings have raised eyebrows. As Breitbart News reported on Friday, the younger-Biden received “unusually generous” bank loans to open a night club during the 1970s while his brother sat on the Senate Banking Committee. The ample terms under which the loans were issued drew attention and concerns about influence peddling given James Biden’s lack of business experience and paltry net worth.
The former vice president’s younger brother is not member of the Biden clan to come under fire for leveraging political connections to secure lucrative business deals recently. In Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends, Peter Schweizer, a senior contributor at Breitbart News, revealed that in 2013 “Hunter Biden’s firm signed a billion-dollar deal with a subsidiary of the Chinese government’s Bank of China just 10 days after Joe and Hunter Biden flew to China aboard Air Force Two.”
Schweizer also detailed how Hunter Biden secured a seat on the board of Bohai Harvest RST (BHR), which invested in a Chinese company that was indicted for engaging in a “nuclear power conspiracy against the United States.”
“When you have the motive of greed and when you don’t worry too much about ethics, it’s very easy to come up with creative ways to enrich yourself, and one of those is what we call ‘American princelings,” Schweizer told Breitbart News Tonight last year. “The term ‘princelings’ is really a term that’s been widely used in China and in the West to talk about China, where in communist China, if you want to get deals done, if you want to get favors from the government, you basically do business with their children, and these children of communist party officials are called the princelings.”
'Middle class Joe' Biden
cashed in to the tune of $15 million after leaving vice presidency
‘Middle
Class Joe’ Is Actually Multi-Millionaire Joe
Former Vice
President Joe Biden, who often pitches himself as “Middle Class Joe” on the
campaign trail, is a multi-millionaire, according to his most recent tax
returns.
'Middle class Joe' Biden
cashed in to the tune of $15 million after leaving vice presidency
Joe
Biden has released his tax returns as part of the Democrats' campaign to force
the release of President Trump's tax returns. Access to those
returns, with hundreds, probably thousands of pages each year, would enable
them to niggle-to-death every detail. It's an obvious trap intended
to distract and mire a president who has accomplished an astounding list of
achievements, starting with reversing the "new normal" of stagnation
that Obama assured us would require a "magic wand" to reverse.
But
it turns out that Biden has made himself and his wife, "Doctor Jill
Biden" (with a doctorate in education), into multimillionaires in just over
two years. Even NPR sees the problem for his image:
Former Vice President Joe Biden has referred to
himself as "middle class Joe" throughout his political career, and
used to regularly joke about being the "poorest person on Congress."
Those terms no longer apply.
Biden and his wife, Jill, have together earned
more than $15 million since Biden left office. That's according to tax returns
and other financial disclosure forms released by Biden's campaign on Tuesday.
The bulk of the Bidens' earnings come from book sales and paid speaking
engagements — two routine sources of income for former high-ranking public
officials.
The documents show Biden has earned far more than
the rest of the 2020 presidential field, with the likely exception of
billionaire Tom Steyer, who entered the race
Tuesday.
I
don't know about you, but I prefer my rich politicians to have made their
money before they enter what is
laughably called "public service."
I
still don't think Biden will be the nominee. But if he does cop the Dems'
crown, the phoniness of his claims to be an ordinary guy will be self-evident.
Of
Biden can be said what originally was said of the early missionaries who came
to Hawaii and bought up land: "They came to do good, and did very well,
indeed."
‘Middle
Class Joe’ Is Actually Multi-Millionaire Joe
Joseph Prezioso/AFP/Getty Images
9 Jul 2019911
4:39
Former Vice
President Joe Biden, who often pitches himself as “Middle Class Joe” on the
campaign trail, is a multi-millionaire, according to his most recent tax
returns.
On Tuesday, Biden’s presidential
campaign released three years
worth of tax filings showing the Democrat frontrunner and his wife, Dr. Jill
Biden, earned more than $15.6 million since leaving the White House. The
majority of the couple’s income came from a book deal — estimated to be worth
$8 million — and lucrative speaking engagements.
In 2017, Biden’s first year out of
elective office since 1973, the couple earned more than $11 million. This was exponentially more than the $396,552 both reported making in 2016. The following year, the
couple’s annual income decreased slightly to $4. 58 million.
Biden’s political standing appears
to be the reason for the couple’s new found wealth. The returns show that Biden
earned $9.49 million in 2017 through CelticCapri Corp., a shell company named after
the couple’s Secret Service code names.
CelticCapri, which was incorporated in Delaware only days after Biden left office, serves as
the main vehicle for the former vice president’s public engagements. In 2018,
Biden was paid $2.73 million through the company for appearances and speeches
all across the country. In total, over the two year period, Biden made 49
speeches with some generating honorariums upwards of $249,000.
Not to be outdone, Jill Biden also cashed in on her public
persona. The former second lady delivered 18 speeches between 2017 and 2018,
earning on average $36,000 per event. Giacoppa Corp., the former second lady’s
shell company named after her family’s original last name, reported paying her
more than $557,00 in 2017 and $506,000 in 2018 for such engagements.
Rounding out the couple’s income was Biden’s pension from the
U.S. Senate and the vice presidency which generated $241,00 in 2017 and more
than $190,000 in 2018. Biden also earned a six figure salary from the
University of Pennsylvania. The former vice president leads the
university’s Center for Diplomacy and Global Engagement in Washington, D.C., a
position that paid more than $371,000 in 2017 and more than $405,000 in 2018.
The couple’s income for both 2017
and 2018 put them squarely within the top one one percent of economic
earners, a threshold set at $480,930 by the IRS. In fact, the
former vice president’s income was the largest of any of his fellow 2020
Democrats.
Biden’s ascension into the economic elite comes relatively
late in life. For the majority of his political career, Biden was one of
the poorest members of Congress. The couple’s income barely edged above
$300,000 until Biden’s first year in the vice president’s office, when he
became eligible to to receive social security and his governmental pension.
Despite waiting so long to break
into the one percent, the Bidens appear to have comfortably transitioned into
their new lifestyle. Last month, it was disclosed the couple now resides in a
11,750 square foot Georgian-style mansion overlooking the Potomac River in
McLean, Virginia. Biden rents the house, which once belonged to the
late-Secretary of State Alexander Haig, even though he owns two properties
within driving distance in his home state of Delaware. One of those is a
recently purchased $2.7 million vacation house on the Atlantic Ocean.
Some signs of the couple’s prior
lifestyle, however, appear to have remained in tact. The Washington Post reported on Tuesday, Biden’s charitable giving has only
slightly increased. According to the most recent tax returns released,
Biden gave 1.4 percent of his income to charity in 2016. The following
year, when the couple reported making 11 million, they donated just around
9.2 percent to charity. The percentage fell significantly in 2018 to six
percent, even though the couple earned more than $4.58 million.
Since signaling his intention to run for president, Biden has
sought to regain some of the working-class appeal that was exhibited in his
early career.
“I know I’m called Middle-Class Joe.
It’s not meant to be a compliment. It means I’m not sophisticated. But I know
what made this country what it is: ordinary people doing extraordinary things,”
the former vice president said last
year.
Best-selling
author Peter Schweizer explains the foreign influence peddling scandal
engulfing Joe Biden’s 2020 presidential campaign in a new video series produced
by the nonpartisan Government Accountability Institute (GAI).
VIDEO:
Money Trail from Foreign Oligarchs to Hunter Biden Bank Accounts Exposed
Best-selling
author Peter Schweizer explains the foreign influence peddling scandal
engulfing Joe Biden’s 2020 presidential campaign in a new video series produced
by the nonpartisan Government Accountability Institute (GAI).
THE MANY FACES AND CROOKED DEALS OF JOE
BIDEN:
"Along with Obama, Biden, Pelosi and
Schumer are responsible for incalculable damage done to this country over the
eight years of that administration." PATRICIA McCARTHY
Best-selling
author Peter Schweizer explains the foreign influence peddling scandal
engulfing Joe Biden’s 2020 presidential campaign in a new video series produced
by the nonpartisan Government Accountability Institute (GAI).
Joe Biden once spoke about jailing employers who hire
"illegals," said sanctuary cities shouldn't be allowed to violate
federal law, and argued a fence was needed stop "tons" of drugs
coming into the country from "corrupt Mexico." JACK HELLNER
*
Despite declaring himself a defender of American union workers,
Biden’s first fundraiser for his 2020 presidential primary campaign was
hosted by a slew of wealthy donors, including attorney Steve Cozen, whose law
firm specializes in helping corporations bust up labor unions, as Breitbart
News’s Matt Boyle reported. JOHN BINDER
- 14,500 American workers displaced
in Wisconsin
- 43,600 American workers displaced
in Michigan
- 2,600 American workers displaced in
West Virginia
- 26,300 American workers displaced
in Pennsylvania
- 34,900 American workers displaced
in Ohio
- 34,300 American workers displaced
in New York
- 6,500 American workers displaced in
Iowa
- 24,400 American workers displaced
in Indiana
- 34,700 American workers displaced
in Illinois
VIDEO:
Money Trail from Foreign Oligarchs to Hunter Biden Bank Accounts Exposed
REBECCA MANSOUR
22 May 20192,669
2:25
Best-selling
author Peter Schweizer explains the foreign influence peddling scandal
engulfing Joe Biden’s 2020 presidential campaign in a new video series produced
by the nonpartisan Government Accountability Institute (GAI).
Schweizer,
who is the president of GAI, explains in the video the key findings from his
2018 bestselling book Secret
Empires regarding the financial deals Hunter Biden’s private
equity firm secured in Ukraine and China while his father, former Vice
President Joe Biden, was negotiating U.S. foreign policy with those countries.
“New documents shed light on just how much money [foreign]
oligarchs were sending to the Biden family while he was vice president,”
Schweizer states in the video. “We have a glimpse of this not because the Biden
family has disclosed it, but because documents that came out in a court case
offer access to financial records involving Hunter Biden.”
“By looking at just this one account, we know what was flowing
into the account and what was flowing out while Joe Biden was vice president,”
he continued.
“Flowing in over an eighteen month period was $3.1 million from
the Ukrainians. There was $142,000 that showed up from a Kazakh oligarch, and
then there was a mysterious $1.2 million from a limited liability company that
nobody seems to know where it exists [and] that funneled the money to a small
Swiss bank that has been implicated in international money laundering,”
Schweizer said.
“Flowing out of the account is hundreds of thousands of dollars
into the personal banking accounts of Hunter Biden himself. $142,000 to a
luxury auto dealership. Another $182,000 to a luxury watch company. This is all
just from one account,” he stated.
The video is
the first episode of a new series called The Drill Down with Peter
Schweizer, which premiered Wednesday on RealClearInvestigations and can be viewed
at www.DrillDownTV.com.
Rebecca
Mansour is Senior Editor-at-Large for Breitbart News and the host of Breitbart
News Tonight on SiriusXM Patriot channel 125, which broadcasts live weeknights
from 9:00 p.m. to midnight Eastern (6-9:00 p.m. Pacific). Follow her on Twitter
at @RAMansour.
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