The federal trustee’s filing did not mention the younger brother of the current Democratic presidential candidate. This past summer, however, James Biden and White were named in a lawsuit alleging fraud, along with Biden’s partner, hedge fund manager Michael Lewitt. The lawsuit, filed by Tennessee businessman Michael Frey and his partner Dr. Mohannad Azzam, owners of Diverse Medical Management, also named Amer Rustom, another investor in Americore along with Biden and Lewitt.
The lawsuit alleges that James Biden had a prominent role in the company. One exhibit filed in the lawsuit is a photograph of an Americore business card that Biden reportedly handed out listing him as a “principal” in the company.
Frey alleges that when Diverse Medical Management and Americore were in talks to merge, Jim Biden promised to exploit his brother’s political influence as vice president to attract international investors and make the venture successful.
Lewitt is alleged to have alluded to the Vice President’s clout in a text message to Frey to calm the latter’s worry about legal liability to his firm over an acquisition: “Jim [Biden] told me. Don’t worry every time someone threatens to sue you you’re with us now nobody is gonna touch you.” According to the lawsuit, “It was Frey’s understanding that Lewitt was implying that DMM [Diverse Medical Management] was ‘protected’ because of Jim Biden’s connections.”
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Article URL : https://www.realclearinvestigations.com/articles/2020/02/17/federal_probe_for_james_biden-tied_firm__122447.html