"They were subtenants," he said, adding that marketer Jeff Schneider "who did some marketing for paradigm over the last couple of years introduced us to Ponte Negra, and we had some available office space.""That's 100% the extent of the relationship," he said."There's no smoke or fire as relates to this unfortunate Ponte Negra situation. There's nothing there at all," he said.
You have reached Francesco Rusciano at the Ponta Negra Fund 1 LLC. Please leave your message at the tone.
- Did Paradigm implement any procedure after your dealing with Alan Stanford to ensure that Paradigm's name would never again be used by scamsters? If so have these procedures failed? If not, why not?
- Did Francesco Rusciano actually have an office at Paradigm as suggested by the message on the answer phone? The SEC filings suggest that Ponta Negra was run by Mr Rusciano from his home in Stamford. How often was Mr Rusciano in his tenancy? Did he use the tenancy for marketing purposes – so as to trade off either Paradigm or the Biden’s name?
- Could you please list the other subtenants of the 17th Floor of 650 Fifth Avenue? I can find other stuff there which looks suspect and I want you to assure us that it has nothing to do with Paradigm and is no way trading off your reputation. Remember Alan Stanford traded off your reputation listing you as one of his investment strategies (and noting the joint branded fund).
- Could you please also answer the question as to how many staff you have? The answer is six to ten in the SEC IARD filings – and 28 in some marketing documents. Did you ever have 28 staff? Were Schneider and Babikova full time staff as listed in your marketing documents? If so when (if ever) did they cease to be full time staff?
- Could you please also answer the allegation made in James Biden’s sworn statement that your returns were misrepresented? By whom and to who were they misrepresented? Did you approach legal authorities to report staff or agents of yours for misrepresenting your returns? Or was James Biden’s statement perjury?