Former Vice President Joe Biden’s younger brother, James, is being accused of defrauding a Tennessee rural healthcare company.
A lawsuit filed in federal court late last month alleges James Biden, who has a history of murky financial dealings, and his associates deceived and defrauded two Tennessee businessmen.
Michael Frey and his business partner, Dr. Mohannad Azzam, brought the suit claiming James Biden and his associates promised and failed to line up investors for their rural healthcare enterprise. Instead, the suit alleges, James Biden urged the two men to borrow $10 million from a hedge fund manager involved in the deal and then proceeded to pass their idea off as his own to a conglomerate of Turkish investors.
“The lawsuit takes direct aim at Biden, painting him as a con artist who uses his ties to his brother — now a Democratic candidate for president — to lure his victims,” the Knoxville News Sentinel reported.
According to documents filed with the U.S. District Court, Frey and his wife developed a business model to take over rural hospitals and retrofit them to not only offer traditional hospital care, but also drug addiction and mental health treatment. After incorporating the enterprise as Diverse Medical Management, they brought on Azzam, “who contracted with nursing homes to provide medical care for seniors.” – READ MORE