The WSJ reports this morning that accused billionaire swindler Allen Stanford has ties to Joe Biden’s son, Hunter, and Joe Biden’s brother, James. Excerpts (sub. only):

A fund of hedge funds run by two members of Vice President Joe Biden’s family was marketed exclusively by companies controlled by Texas financier R. Allen Stanford, who is facing Securities and Exchange Commission accusations of engaging in an $8 billion fraud.
The $50 million fund was jointly branded between the Bidens’ Paradigm Global Advisors LLC and a Stanford Financial Group entity and was known as the Paradigm Stanford Capital Management Core Alternative Fund. Stanford-related companies marketed the fund to investors and also invested about $2.7 million of their own money in the fund, according to a lawyer for Paradigm. Paradigm Global Advisors is owned through a holding company by the vice president’s son, Hunter, and Joe Biden’s brother, James.
The fund has offered to turn over the $2.7 million investment it received from Mr. Stanford’s firm in 2007 to a court-appointed receiver in the SEC’s civil fraud case involving Mr. Stanford, according to Paradigm’s attorney, Marc X. LoPresti. The fund terminated its relationship with Mr. Stanford’s companies after the SEC filed civil charges against them last week, Mr. LoPresti said.

Who knows where the story goes, but from the WSJ account, there is one glaring inconsistency. Here’s LoPresti on the Biden-Stanford relationship:

Mr. LoPresti, who represents Hunter and James Biden, as well as Paradigm, said he didn’t know which Stanford entity invested the roughly $2.7 million. He said the Bidens never met or communicated with Mr. Stanford.
“There is no connection between the Bidens and Allen Stanford or Stanford period, full stop,” he said. “There never was any meeting between any member of the Biden family, no phone calls, zero correspondence.”

But, later on in the WSJ piece:

Mr. LoPresti said Stanford entities put up the $2.7 million in seed money and marketed the fund. SEC records show the fund, which was launched in June 2007, had 104 investors as of Nov. 10, 2008, with assets of $49.8 million. Paradigm Global, of New York, manages portfolios of hedge funds with a total of about $270 million in assets.
Under an agreement, Stanford was entitled to share in a portion of the fund’s management and performance fees, Mr. LoPresti said. “That’s all I’m going to say on the fee side of things,” he said.

So, we have the Biden attorney, LoPresti at one point say that he “didn’t know which Stanford entity invested the roughly $2.7 million” and later on say the Stanford entity that put up the first $2.7 million in seed funding was entitled to a portion of the management and performance fees. Well, that’s an easy one to figure out. Which Stanford entity cashed the checks?

If I had to guess at this point, it looks like Stanford was using this relationship to make himself look more credible in the eyes of his investors, but, more to come. . .