President Biden's younger brother Jim and son Hunter are accused of using his union ties to land clients when they ran an investment firm, according to a new book, including firefighters who would arrive with checks claiming to be 'friends of Joe.'
It describes how they used the then senator's name to drum up business for Paradigm Global Advisors, which they ran in the mid-2000s
'Don’t worry about investors, ' Jim Biden reportedly told staff on his first day at the company. 'We’ve got people all around the world who want to invest in Joe Biden.'
The story of their time at Paradigm Global Advisors is told by Ben Schreckinger in 'The Bidens: Inside the First Family's Fifty-Year Rise to Power.'
It includes allegations of Hunter's drug use at the time and sets out how they used the family name in their business dealings.Insurance Loans Mortgage Attorney Credit Lawyer
'Jim’s job,' one of his former business partners told Schreckinger, “is to ensure the lifestyle is good for the family.”
Lawyers for the two men dispute many of the alleged conversations in the book and they are not accused of any wrongdoing.
The new account claims their takeover of the firm was part of a plan to find a proper job for Hunter in 2006 so that his role as a lobbyist would not cause problems for Biden while he prepared a run for the Democratic presidential nomination.
Anthony Lotito, a business partner, later alleged in court ﬁlings that Jim had called him saying that Hunter's position with William Oldaker, a campaign counsel and treasurer for his father, could be a liability
Hunter and Jim denied that any such call was made.
Jim Biden is photographed with his older brother at an ice cream store in West Virginia during Joe Biden's second run for president in 2008. It was at about this time that Jim was working with Hunter Biden at Paradigm Global Advisors
Former Paradigm executives said James and Hunter Biden used the former senator and VP’s ties to labor unions to land investments.
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'The Bidens: Inside the First Family's Fifty-year Rise to Power' by Ben Shreckinger is published by Twelve Books on Sept. 21
Either way, the three of them pursued Paradigm, which was founded by James Park, who had been married to a daughter of religious leader Sun Myung Moon.
Jim and Hunter put together a bid for $21 million, using family allies for financing, and with a plan to make Biden's son chief executive, says the book.
The company's former chief compliance officer, who spoke on condition of anonymity for fear of retaliation, described the day they took over.
He said they arrived with another family member, Beau Biden, 'and a couple of large men,' and ordered him to fire the firm's president.
'Jim had a plan,' says an excerpt printed by the New York Post.
It was then he told the executive that people all around the world wanted to invest in Joe Biden.
'In case the chief compliance ofﬁcer did not get the picture, Jim painted it more vividly for him: "We've got investors lined up in a line of 747s ﬁlled with cash ready to invest in this company."
'Beau was then in the middle of his ﬁrst attorney general’s race. His face turned red with anger, the executive recalled. "This is not why we are making this investment," Beau told his uncle.
'"This can never leave this room. And if you ever say it again, I will have nothing to do with this."'
The book adds that a