It could be that the smear campaign against Gov. Pallin is about diverting attention from the Biden family. The brother and son of Joe Biden are involved in lawsuits concerning a failed hedge fund deal.
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In the hedge fund business deal, Lotito and the Bidens created a company called LLB Holdings USA and together agreed to pay $21.3 million for 54 percent interest in Paradigm.
In the lawsuit, Lotito said that soon after creating LLB, the Bidens crafted a "secret deal" to create their own company that was designed to buy out his shares in Paradigm for a low rate, to which he agreed. He said he knew nothing of the secret deal until later and now believes he was defrauded out of millions of dollars and his share in the company.
In the second lawsuit against the Bidens, which was filed in June, Lotito is also named as a defendant. Stephane Farouze, now an executive with Deutsche Bank, seeks $10 million, saying that the Bidens and Lotito promised to buy his shares in the hedge fund company but reneged.
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