he day the Bidens took over Paradigm Global Advisors was a memorable one.
In the late summer of 2006 Joe Biden’s son Hunter and Joe’s younger
brother, James, purchased the firm. On their first day on the job, they
showed up with Joe’s other son, Beau, and two large men and ordered the
hedge fund’s chief of compliance to fire its president, according to a
Paradigm executive who was present.
After the firing, the two large men escorted the fund’s
president out of the firm’s midtown Manhattan office, and James Biden
laid out his vision for the fund’s future. “Don’t worry about
investors,” he said, according to the executive, who spoke on the
condition of anonymity, citing fear of retaliation. “We've got people
all around the world who want to invest in Joe Biden.”
At the time, the senator was just months away from both assuming the
chairmanship of the Senate Foreign Relations Committee and launching his
second presidential bid. According to the executive, James Biden made
it clear he viewed the fund as a way to take money from rich foreigners
who could not legally give money to his older brother or his campaign
account. “We've got investors lined up in a line of 747s filled with
cash ready to invest in this company,” the executive remembers James
Biden
https://www.politico.com/magazine/st...ampaign-227407
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