Joe Biden's brother, Jim Biden, faces a federal lawsuit that was filed on July 22 and is accused of defrauding a rural healthcare company according to a report on Knox News. This all happened when a Tennessee businessman, named Michael Frey, got involved with Jim Biden in regards to selling Frey's rural health care plan to investors and the hopes of selling to people in the White House.
It also involved a hedge fund manager named Michael Lewitt who "was offering to find loads of cash, too."
It sounds like the plan was "Stick with us, Frey says they told him, and you’ll get rich and change the state of rural health care in America" - but seems like that didn't work out as planned.
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Based on the report by Knox News, Frey is alleging in a U.S. District Court lawsuit that Jim Biden and Michael Lewitt were actually trying to steal Frey's plan and then drive him into bankruptcy.
As quoted, “They repeatedly assured (Frey) that investment capital originating from and flowing through foreign entities was not only certain, but was imminent,” attorney Robert A. Peal wrote. “And Biden promised (Frey’s) Intensive Outpatient Model would play an integral role in health care policy at the highest levels of the United States government."
Attorney Peal said it was all fraud.
The lawsuit consists of Frey and his business partner, Dr. Mohannad Azzam, targeting Biden and Lewitt. They're also going after Lewitt's hedge fund, which is named The Third Friday Total Return Fund. Also targeted is the Platinum Group USA hedge fund and the owner, whose name is Amer Rustom. And finally, they also named Americore Health hospital and the owner, Grant White.
Knox News states that "the lawsuit accuses the quartet of businessmen and their firms of deception and fraud and includes copies of text messages and emails as evidence. Attorney George Mesires, listed as attorney of record for all defendants, said Thursday he had no immediate comment. Rustom, White and Biden did not return phone messages Thursday."
Jim Biden is being portrayed "as a con artist who uses his ties to his brother — now a Democratic candidate for president — to lure his victims. The suit portrays Lewitt as a bully who uses threats of lawsuits to keep victims at bay."
No further information was available at the time this was published.