Paradigm Global Advisors is the latest company being investigated for an all too familiar Ponzi scheme. The Justice department is currently investigating a hedge fund operation run by two members of U.S. Vice President Joe Biden's family. Texas financier Allen Stanford, charged by regulators with an $8 billion fraud scheme similar to Bernie Madoff's.
Stanford-related companies marketed the fund to investors and also invested about $2.7 million of their own money in the fund, the paper said, citing a lawyer for Paradigm.
Paradigm Global Advisors is owned through a holding company by the vice president's son, Hunter, and Joe Biden's brother, James. It has also been learned that Stanford’s company owes the IRS and taxpayers over $270 million in back taxes. Ironically- It was the Vice President who said that it was patriotic to pay taxes, apparently not if you are related or linked to the white house.
The justice department is receiving coporation from Paradigm's CFO, Laura Pendergest-Holt, at this time but to date there has been no report of the Biden's being under the investigation. More frustrating is that the main stream media has failed yet again to bring this story to the front pages of the New Youk Slimes or to the breaking news of CNN, MSNBC, CBS or NBC.
Obama cannot seem to seperate his office from scandal or from his cabniet who have avoided taxes: Personal tax problems have tripped up three of Obama's nominees for top administration jobs. Two nominees withdrew over tax issues, including Tom Daschle, Obama's choice to head the Health and Human Services Department. The other withdrawal was chief performance officer nominee Nancy Killefer, who had a $947 tax lien filed against her in Washington four years ago for not paying unemployment compensation taxes for a household employee. She paid the debt less than six months later, District of Columbia records show.
If us common folks forget about a lien or back taxes, I am sure we will have sleepless nights and moments where we keep an eye out for the men in black with matching braclets and a one way vacation at a Federal resort.
