More Hedge Fund Scrutiny: Why is Hunter Biden Overlooked?
Written by: Aaron Katsman | September 3, 2008
With the hedge fund industry facing more scrutiny than ever before it’s quite amazing that Hunter Biden’s sour hedge fund deal, where he is accused of defrauding a former business partner and an investor of millions of dollars, has barely been mentioned in the press. After all he is the son of Democratic VP candidate Joe Biden.( Could that be the reason?)
According to a story in the Washington Post: “A lawsuit filed by their former partner Anthony Lotito Jr. asserts in court papers that the deal was crafted to get Hunter Biden out of lobbying because his father was concerned about the impact it would have on his bid for the White House. Biden was running for the Democratic nomination at the time the suit was filed.” The article continues, “Hunter Biden was made president with an annual salary of $1.2 million, despite his inexperience in the hedge fund industry.”
Wow! So we have the son of a Senator, who at that time was considering a presidential run, allegedly compelled to give up his lucrative lobbying job, to be made president of a hedge fund with a salary over one million bucks a year. Giddy up. And then he gets accused of defrauding investors. The media has been filled with reports on investment deals gone bad, hedge fund managers flying the coop, and others facing scrutiny for losing investors most if not all of their money. Yet the Hunter Biden story doesn’t get picked up? Sort of fishy isn’t it?
Sounds juicy. At least as interesting as the pregnancy of a 17 year old girl from Alaska.
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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
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