It looks like conning may run in the family.
A Tennessee businessman named Michael Frey claims that he was hustled by former Vice President Joe Biden’s brother, Jim.
Jim Biden, the brother of former Vice President Joe Biden, had just handed him a business card and a promise to sell Frey’s rural health care plan not only to investors but also the White House.
And Michael Lewitt, a hedge fund manager whose claims of money management expertise had landed him on the pages of Forbes magazine and The New York Times, was offering to find loads of cash, too.
Stick with us, Frey says they told him, and you’ll get rich and change the state of rural health care in America.
Instead, Frey alleges in a U.S. District Court lawsuit, Jim Biden and Lewitt stole his plan and tried to drive the McMinnville businessman into bankruptcy.
“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.
“But it was all a fraud,” Peal wrote.
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