Paradigm was the brainchild of James Park, a son-in-law of the billionaire Sun Myung Moon, who claimed to be the messiah and founded the Unification movement, a religious group often accused of being a cult and whose members are known as Moonies. He and wife Sara have three children, James Brian Biden Jr., Caroline Nicole Biden and Nicholas Coleman Biden. It also emerged that after the loan was made, First Pennsylvania met with Joe Biden to discuss it. The consulting fees to Hunter continued until 2005, when the bankruptcy bill finally passed with Joe’s support. Obama said one thing about senile Joe that I have to believe, when he said, do not under estimate Joe’s ability to f**k things up.

As the problems mounted, James and Sara put the house up for sale in early 2015 with an asking price of $6 million. In general, a lender can file a simple release, rather than a “full satisfaction,” to release the lien on a house when a debt has not been fully paid back. “If any such discussions took place they lacked such seriousness I don’t recall any such conversation,” he wrote.

All Rights Reserved.
Generally, legal restrictions and fund policies mean only the rich can invest directly in hedge funds, and only in much higher increments than a couple thousand dollars.

Neither John nor Michael Hynansky responded to emails requesting comment. They know that TRUMP was once a supporter of their. This transaction was identified for potential criminal financial activity,” the report stated. The contract was awarded by the Iraqi government, not the U.S. government.

“I had breakfast with him the other day.”. In the Bidens’ first months at the helm, Paradigm reached an arrangement with Longship Capital Management, a New York investment firm, in which Longship would serve as an investment adviser to Paradigm, according to an Securities and Exchange Commission filing. While the house served for several years as a family getaway amid beautiful surroundings, it did not pay off as an investment. Perhaps Obama sidelined Joe because of what he knew his number two did while VP. But that May, James and Sara obtained the half-million dollar loan from Hynansky through a second mortgage, and they went about settling their debts. Dennis Tang, now an undergraduate instructor at Columbia University, was interning at Paradigm that summer. In that case, the borrower still owes money to the lender, but the debt is no longer secured by the house. “People who have important names tend to get in the door easier but it doesn’t mean success. The Bidens earned a reputation for being tight-knit and fiercely loyal to one another. The report noted that Sara Biden was largely uncooperative when the bank investigated the transactions. “It was just empty desks and empty Bloomberg terminals,” Tang said. He was a prominent opponent of the creation of an asbestos trust fund, a measure that would have curtailed lawsuits related to the cancer-causing fibers. He Doesn’t…, Epic: Trump Leads 32-Nation Rebuke of the UN’s…, Google Search “Can I Change My Vote” Erupts…, Is Biden Really Up by a Gajillion Points? A spokesperson for the Biden campaign, Andrew Bates, declined to comment for this story. The preliminary investigation reportedly indicates that Hunter, James Biden, and Sarah Biden, were also beneficiaries of a $100,000 line of credit funded by Chinese energy mogul Ye Jianming. The Senate Homeland Security Committee and Senate Finance Committee’s investigation probed Hunter Biden’s foreign dealings during Democratic presidential nominee Joe Biden’s tenure as vice president. The case was dismissed. While James and Hunter Biden were trying to succeed in the world of high finance, Joe Biden was seeking the Democratic nomination for the presidency, eventually becoming Barack Obama’s running mate after his own bid foundered. Sign up for POLITICO Playbook and get the latest news, every morning — in your inbox. At just 22, James was the finance chairman of Joe Biden's U.S. Senate campaign. The DOJ also scrutinized unusual loans made by Farmers, including the Biden loan. He got a year in prison. The report does not indicate whether federal authorities ever investigated Hunter Biden’s transactions mentioned in the report. A third former executive at Paradigm claimed that at one point around 2008 or 2009, James and Hunter withdrew several million dollars from Paradigm’s coffers for their own use. The Paradigm executive said the checks were never cashed. The spokesman for James and Sara Biden said that they had settled the debt with Hynansky in full, paying more than $600,000, and that the Keewaydin house was sold for a loss. “Joe Biden needs to recognize it’s a problem,” said Richard Painter, a former chief White House ethics lawyer in the George W. Bush era, who recently became a Democrat. Campaigning, lobbying and political influence in the EU. “Former Secretary Kerry’s December 2019 denial of having any knowledge about Hunter Biden or Burisma is inconsistent with the evidence uncovered by the Committees. He did not address a question about why they sought financing from Hynansky rather than a financial institution. In September 2008, with the financial system melting, an executive at Paradigm registered “Paradigm Stanford Capital Management Core Alternative Fund” with the SEC. This makes a second mortgage riskier for a lender. In late 2013, Hunter traveled with his father to Beijing, where the vice president was set to meet with Chinese President Xi Jinping. Both and the web site upon which the links are displayed may receive compensation when readers click on these links. Messages left at a number listed in Lotito’s name were not returned. Ye has disappeared from public view, and his name has surfaced in a corruption case in China. Campaigning, lobbying and political influence in the U.K. Latest news, analysis and comment from POLITICO’s editors and guest writers in Europe. The spokesperson for James and Sara Biden said that they had settled the debt with Hynansky in full, paying more than $600,000, and that the Keewaydin house was sold for a loss. Joe Biden was in touch with two of those banks about his brother’s loans, once to scold a bank executive about invoking his name in attempts to collect on overdue payments. As a senator, Biden’s campaign occasionally paid, in accordance with Senate ethics rules, for him to make use of a private jet owned by Hynansky’s son, Michael, who has succeeded his father as president of Winner Automotive Group. US business firm admits mistake over Iraq investment. Two years later, Joe Biden successfully demanded the removal of Ukraine’s prosecutor general, Viktor Shokin, who was unpopular with Western leaders. Throughout the 1990s, bankruptcies were on the rise, and MBNA began pushing hard to … Since senile Joe is an idiot.

His political career kept him well clear of his brother and uncle’s business endeavors. Put every person involved with the Coup d’Etat against President Trump on Death Row! The former vice president’s ties to Hynansky date back to at least 1987, when Hynansky and his then-wife, Deanna, cut campaign checks for $1,000 each to support Biden’s first presidential run. are designed to illustrate the depth and extent of some questionable financial transactions” and “illustrate serious counterintelligence and extortion concerns relating to Hunter Biden and his family.”, The report does not indicate whether federal authorities ever investigated Hunter Biden’s transactions mentioned in the report, flagged for “potential criminal financial activity”. Latest news, analysis and comment on defense in Europe and beyond. Proof inside.". In Florida, a second mortgage can be harder to obtain, because the lender on a first mortgage gets preferential treatment in the event of a foreclosure, according to Alex Mestdagh, a real estate lawyer in central Florida. Ranked among the most damning facts found in the report are assertions that Hunter Biden’s investment firm, Rosemont Seneca Thornton, received a $3.5 million wire transfer from Elena Baturina. Less than a week later, Owasco started moving money to James Biden’s consulting firm, Lion Hall Group, according to the report. “My only contact with First Pennsylvania was with a junior loan officer who wanted to see me about my brother’s loan. The release revealed that 1018 PL LLC was controlled by John Hynansky, a Ukrainian-American businessman and longtime donor to Joe Biden’s campaigns. We can't fight back misinformation about the election and COVID-19 without you. Plans for the firm fizzled when the Mississippians were arrested, then jailed, for an unrelated bribery scheme. Details of the loan are laid out in property records in Collier County, Florida, where Biden’s younger brother, James, and James’ wife Sara, owned until recently a home on Keewaydin Island. The same year that First Pennsylvania granted the loan, it was placed on the Federal Reserve Board’s watch list over potentially unsound lending practices. “Hunter did take substantial dollars out of the company,” said a second former Paradigm executive, describing the withdrawals as a “semi-regular” subject of discussion and concern within the firm. An investigation by the Senate revealed that members of the Obama administration were actively distancing themselves because the former vice president’s son, Hunter, and other family members were leveraging his political position to enrich themselves. Just attacking the people choice for president! Think about what I have just posted before you go to vote on 11-3-2020. Their ventures, over nearly half a century, have regularly raised conflict-of-interest questions and brought the Biden family into potentially compromising associations. Carlo Zampogna, the Florida lawyer who prepared both the satisfaction of the first mortgage and the release of second mortgage, the one from Hynansky, declined to comment. She reportedly was receiving illegal construction contracts from her husband, Yuri Luzhkov, the former mayor of Moscow. The paper looked into it: “The answer, according to three former officers of the troubled Farmers Bank, is the Biden name,” reported Delaware’s News Journal. In 2014, as Joe Biden led the administration’s response to the annexation of the Crimean peninsula in southern Ukraine, Hunter and Archer received appointments to the board of a Ukrainian natural gas company, Burisma Holdings. The next month, Biden’s son Hunter was appointed to the board of Burisma, a Ukrainian natural gas company, receiving compensation that was reportedly as high as $50,000 a month at times. Hunter Biden, James Biden, and James Biden’s wife, Sara Biden, were all authorized users of credit cards associated with the account. In 2008, Scruggs pleaded guilty to his role in the scheme and was sentenced to five years in prison. Spokespeople for Biden have said his son's dealings did not influence his official actions, and no evidence has emerged of wrongdoing on his part in the matter, according to the New York Times. Not Obama Sr. who may or may NOT have married O’s mother….Stanley Ann Dunham…This video is a MUST, as it lays out ALL OF OBAMA’s LIFE, HIS REAL FATHER, AND THE COMMUNISM THAT HIS FATHER FOR OVER 10 YEARS MENTORED HIM WITH, ACCORDING TO HIS MOTHERS’ INSTRUCTIONS WHEN SHE LEFT HIM WITH HER PARENTS AND WENT OFF TO WORK/MARRY SOETORO IN A MUSLIM NATION. Hynansky, born in Germany after his parents fled Ukraine during World War II, came to the U.S. as a child in 1949, settling in Delaware. In the 1970s, as Joe was entering the Senate and taking a seat on the Banking Committee, James obtained unusually generous loans from lenders who later faced federal regulatory issues.

Biden’s image as a straight-shooting man of the people, however, is clouded by the careers of his son and brother, who have lengthy track records of making, or seeking, deals that cash in on his name.