Bronte Capital with a Major Scoop on Alleged Fraudster

[girl gone mad]

I'm thinking maybe the Bidens should get out of the hedge fund business. This isn't the first time Hunter and James have apparently gotten in over their heads by allowing shady characters to trade on the family's good name.

Bronte Capital with a Major Scoop on Alleged Fraudster
http://www.cjr.org/the_audit/bronte_capital_with_a_major_sc.php

A Connecticut hedge fund called Ponta Negra Group, run by 27-year old Francesco Rusciano has been frozen by the SEC, which accused it of fraud. Hempton was all over this a few weeks ago, but had to take down his posts when Ponta Negra lawyers threatened to sue him. They’re back up now.

But the big news here is Hempton’s discovery that the allegedly fraudulent fund has some, um, oddly coincidental connections to Vice President Joe Biden’s son and brother, who run a firm called Paradigm Global. The firms are run out of the same floor at 650 Fifth Avenue in New York, share the same “marketer,” a guy named Jeffrey Schneider of Onyx Capital LLC, whose website is currently down, and the SEC filing gives a phone number for Ponta Negra that goes through Paradigm’s switchboard.

Ruh roh.

This wouldn’t be the first time the Bidens’ fund has intersected with an alleged fraudster. Two months ago it was discovered to be entangled with disgraced financier Allen Stanford in a $50 million fund co-branded Paradigm Stanford Fund and marketed by Stanford.

Mr. Schneider was involved in that joint venture, which the Bidens say they made without ever even meeting Mr. Stanford...

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