I wrote a post about Ponta Negra – a hedge fund that I thought was more likely than not to be fraudulent. I did not name Ponta Negra in the post but I put two of their marketing documents on the web and some people found them.
I withdrew that post after threats from lawyers. I also removed the documents from the web.
I have reposted the two marketing documents I have from Ponta Negra here and here and the first threat from the lawyer here.
I have done this because Francesco Rusciano of Ponta Negra has formally had his assets frozen by a Federal Judge at the request of the SEC. Also see here for the formal charges.
Anyway I asked the lawyers for the things that I would need to do due diligence on Ponta Negra – that is the identity of the auditor, permission to talk to the auditor, identity of the prime broker and permission to talk to the prime broker.
I was denied. The lawyers argued that I was “just a blogger”. Their denial letter is here.
The first marketing document however identified a supposed prime broker as Citigroup. I wrote to citigroup several times – and spoke to senior people in their government relations area and told Citigroup the entire story. I believe that Citigroup did not react appropriately to a fraud committed in their name.
Anyway I will save you the suspense. All of this would not be the biggest story on my blog except that Ponta Negra is marketed out of the office of Paradigm Global – a fund of hedge funds owned and controlled by Hunter Biden and James Biden. Hunter and James are the son and brother of Vice President Joe Biden respectively.
You can find this several ways.
1. Ponta Negra gives its address in the second marketing document as 650 Fifth Avenue, 17th Floor. This is the same address as Paradigm Global.
2. The contact on the first marketing document for Ponta Negra is Jeffry Schneider. This is the same Jeffry Schneider who is quoted in this Wall Street Journal article as being the marketer for Paradigm Global and effectively spins for the Bidens.
3. This SEC filing gives an address and phone number for Ponta Negra. The address and phone number is a number through the switchboard of Paradigm Global and until recently it was a way of getting into contact with Ponta Negra.
At a minimum Paradigm Global – a fund of fund managers owned the Vice President’s family, housed an alleged fraudster. The alleged fraudster used the same phone number as the Vice President’s family business, the same marketing machine and traded off the good name of the Vice President’s family business.
There are numerous posts about Ponta Negra, Paradigm and other assorted entities (Onyx Capital for one) that I have withheld posting on. I will put them up as a series. The ties between the Vice President’s family and some very questionable dealings are very strong.
The next step for the SEC has the surname Biden. Are they up to it?
To be continued.