SEC Sues Company Over Shady Business Deal With President Biden's Brother

The SEC filed a lawsuit against a company involving a business deal with President Biden's brother James.

The company allegedly changed investing strategy without telling investors, many of whom are seniors.

The manager misappropriated at least $4.7 million of investor funds for personal use.

The company invested $30 million of fund money into companies tied to James Biden that went bankrupt.

James Biden and the manager are accused of fraud in a separate lawsuit by a hospital corporation.