Politics

Report: Federal Lawsuit Accuses Joe’s Brother Jim Biden of Using Family Name to Scam Investors 

There is a definite pattern of scandal, privilege, and corruption coming out of the Biden family.

This is what happens when politicians make a life-long career working in the swamp.

I’ll tell you what…one thing that would really drain the swamp quick, are mandatory term limits, and I don’t know why we’re not demanding these.  But that’s a topic for another day.

Today, we’ll discuss the very shady Jim Biden, who is the brother of embattled 2020 candidate Joe Biden.

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Mr. Jim Biden is embroiled in a federal lawsuit along with a fellow hedge fund partner of his, and he stands accused of doing some very shady, very dishonest things, in an elaborate scam, involving his wife too, that destroyed a man’s life.

Here’s what the court documents say happened in short:

A Tennessee businessman named Michael Frey claims that he was scammed by Joe Biden and his business partner.

He claims that Biden promised to sell a “rural health care plan” that Mr. Frey created to investors and also to the White House, thanks to Jim Biden’s “connections.”

The two business cons told Frey to “stick with them” and he’d be rich, and he would change the state of rural healthcare in America.

But that’s not what happened…Instead of getting rich, Biden and his cronies took this man for a long conman-ride, by convincing him to take out hedge fund loans, that eventually drove him into bankruptcy.

The con was basically this: Biden tells the man that he’s got investors, and he’ll be rich, then encourages the man to take out these massive loans from Bidens hedge fund partner, claiming the money will all be paid back by the investors.

The investors never show up, but now Frey is now on the hook to pay back loans from Biden’s partner, who is now threatening to sue him if he doesn’t payback the money.

Bait and switch.

While Biden continued to assure Frey money was on the way, Lewitt came calling for money, the lawsuit stated. He insisted Frey needed to pay back the loans from his hedge fund company — loans Lewitt had said would be repaid by investors, not Frey, the lawsuit says.

“Lewitt’s bullying went beyond the Third Friday Fund loan agreements,” the lawsuit says. “Whenever legal formalities and litigation were pressed upon him, he lashed out with threats and invective.”

“The lawsuit takes direct aim at (Jim) 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 suit portrays Lewitt as a bully who uses threats of lawsuits to keep victims at bay,” according to the news site.

Basically, Frey and his wife Natalie developed a plan to take over failing rural hospitals and transform them into successful medical centers with outpatient services, and they partnered with an Alabama doctor Mohannad Azzam, who contracted with nursing homes, the News Sentinel reports.

By 2017 the partners were receiving offers to buy into their business, and the interest led Frey to Biden, who introduced him to Lewitt. The group worked with Florida based rural hospital operator Americore Health owner Grant White and arranged a sale to Americore for $7 million.

The money never came, but Biden and Lewitt promised Frey they were arranging for another hedge fund, Platinum Group USA, to buy Americore and fulfill the agreement, but that never happened.

“What followed was a classic fraudulent bait-and-switch,” according to the lawsuit. [American Mirror]

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Court docs claim the scheme to scam investors was very elaborate, and even involved Jim’s wife and  Joe Biden’s sister-in-law, who was hosting events for the “targets” of the scheme. Biden and his wife would host these events to put victims minds at ease that investors were coming.

But the investors never came, and soon Frey learned that he had been completely duped and was scammed out of a lot of money.

Biden, Lewitt and Amer Rustom, owner of the Platinum Group USA hedge fund, concocted a $10 million deal for Frey and Azzam’s business, with some in loans from Lewitt’s hedge fund that Biden and Lewitt claimed would be repaid by investors, the News Sentinel reports.

The lawsuit claims Jim Biden and his wife even hosted a dinner to assure Frey and Azzam funding was on its way, but it never materialized. Eventually, Biden and Lewitt alleged they were pitching the business to Turkish investors and pushed for details on the business model they alleged were necessary to seal the deal, according to the lawsuit.

Instead, Frey later learned, Platinum Group and Biden submitted a proposal to the Turkish investment group Dogan Holdings that replaced references to Frey and Azzam’s business, Diverse Medical Management, with “Platinum Group Diverse Medical Management,” the lawsuit alleges.

Long story short, Frey and Azzam were scammed out of a lot of money and Lewitt is now allegedly threatening them with lawsuits to collect on loans Lewitt and Biden promised would be covered by investors.

The litigation comes with a mountain of text messages and emails to back up the claims, including one text message Jim Biden inadvertently sent to Frey that exposed the scheme. [American Mirror]

You can read more on the lawsuit here. It’s a very long, very detailed scam. The Biden family should be ashamed. They are probably the most corrupt family in American politics.

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