Spooky Action from a Distance: Joe Biden's Family Fake Business Siphons Money from Partnered Hedge Funds and Bankrupts Legit Hospitals

The "Big Guy" Wets His Beak & Takes His "Cut"

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Video mentions above: Americore Health, Grant White, James Biden, Michael Lewitt, The Third Friday Total Return Fund

Biden Family Pumps Money Out of Desperate Business' with Promises of Investment by Nonexistent Network of Biden Connected Investors and then Leaves them Hanging.  Joe's the "Influencer" w/o Actual Influence.

Radar On-Line, "Fraud Scheme? President Joe Biden's Brother Jim Accused of Spending $125k in 'Business Loans' for Personal Expenses"

President Joe Biden’s brother was tied to a potential fraud scheme this week after it was revealed that he allegedly spent a business loan (aka -"bribe") on personal expenses, RadarOnline.com can report.

In the latest development to come as House Republicans investigate the Biden family’s domestic and international business dealings, it was revealed that Jim Biden, 74, allegedly spent a $125,000 business loan (aka- "bribe") on NFL season tickets, landscaping, and electrical work.

Treasury documents obtained by Daily Mail on Monday revealed that President Biden’s younger brother was named in three Suspicious Activity Reports (SARs) filed by banks to the Treasury Department.

The documents were reportedly uncovered during a separate investigation into Jim’s former business partner, Michael Lewitt.

Lewitt was recently charged by the Securities and Exchange Commission with misappropriating $4.7 million from his hedge fund.

According to Daily Mail, the SARs showed that Jim received thousands of dollars in business “loans” (aka- "bribes") as part of Lewitt's suspected scheme.

A May 2020 SAR filed by investigators at Wells Fargo stated that Jim and his wife Sara's company, Lion Hall, received $125,000 from Lewitt's hedge fund.

Jim Biden allegedly spent part of that $125,000 business loan (aka- bribe) on season tickets to see the Philadelphia Eagles.

Another SAR filed by investigators at First Republic Bank revealed that Jim received three wires totaling $23,150 from Lewitt’s fund, Third Friday, to his personal JPMorgan Chase account between November 2018 and February 2019.

Meanwhile, a lawsuit recently filed by Diverse Medical Management alleged that President Biden’s brother partnered with Lewitt in 2017 and promised loans, foreign investment from Qatar, and political support to help DMM provide mental health services at rural hospitals.

SEC Filing:

On September 29, 2023, the Securities and Exchange Commission charged Michael E. Lewitt of Boca Raton, Florida and his investment advisory firm Third Friday Management, LLC (“Third Friday”) with misrepresentations and omissions concerning a material change in the investment strategy of the Third Friday Total Return Fund, L.P. (the “Fund”), the value of the Fund’s assets, and charged Lewitt with misappropriating at least $4.7 million from the Fund for his personal benefit. Lewitt is Third Friday’s sole managing member and majority owner.

According to the SEC's complaint, from at least 2012, Third Friday and Lewitt marketed and represented to investors in the Fund’s Private Placement Memorandum that the Fund used a “strategy of selling straddles on the S&P 500 Index over a portfolio of income generating securities.” The complaint alleges that in January 2018 Third Friday suddenly changed course without disclosing to investors, many of whom were elderly, that it had begun making loans to a distressed (now bankrupt) company that acquired and operated struggling rural hospitals. As alleged, between January 2018 and November 2019, the Fund made 45 separate loan advances totaling more than $19 million to that company. The complaint further alleges that from January 2018 through March 2020, Third Friday and Lewitt made material misrepresentations and omissions, and failed to disclose the change in investment strategy and value of investments, Lewitt’s conflict of interest, and related risks to investors and prospective investors. As alleged in the complaint, Lewitt, with sole authority over the Fund, also misappropriated at least $4.7 million from the Fund for his personal use.

The SEC’s complaint, filed in U.S. District Court for the Southern District of Florida, charges Third Friday and Lewitt with violating the antifraud provisions of Sections 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 (“Advisers Act”). The complaint further charges Third Friday with violating, and Lewitt with aiding and abetting Third Friday’s violation of, Sections 206(4) of the Advisers Act and Rules 206(4)-2 and 206(4)-8 thereunder. The complaint seeks permanent injunctions, disgorgement plus prejudgment interest, and civil money penalties against Third Friday and Lewitt and a conduct-based injunction and officer and director bar against Lewitt.

The SEC’s investigation was conducted by Steven J. Meiner and Mark Dee of the Miami Regional Office and was supervised by Jessica M. Weissman and Glenn Gordon. The SEC’s litigation will be led by Pascale Guerrier and supervised by Teresa Verges.

Where's the Evidence?  How about the check and it's source & timing?  James and Hunter "Sell the "Biden Brand".  Joe, "The Big Guy" takes his cut.  The code-switch word "loan" = "bribe".