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Another Clinton scandal has come to the public’s attention, this one involving the Hillary Clinton’s son-in-law, Marc Mezvinsky.
While serving as a hedge fund manager, he took a wild gamble with his clients’ money by betting on the struggling Greek economy — and promptly lost nearly 90 percent of their investment in the process.
Mezvinsky, Chelsea Clinton’s husband, ran Eaglevale Hellenic Opportunity, which was parented by Eaglevale Partners, a larger hedge fund operated by him and two partners, former Goldman Sachs colleagues Bennett Grau and Mark Mallon.
Eaglevale Hellenic Opportunity, established in 2014 with $25 million in investors’ funds, purchased stock in Greek companies along with government bonds, betting that the economy would spring back, according to The New York Times.
But the handwriting was on the wall, and by the opening months of 2015 the fund lost 40 percent of its value. Rather than pulling out and recouping what he could, Mezvinsky stubbornly plunged forward.
Investors were informed last month that the fund would be shutting down, and his investors would take home 10 cents for every dollar they put in.
And what does Mezvinsky have to say about this? The Daily Mail reported:
But when Daily Mail Online approached Mezvinsky outside his $10 million Manhattan apartment he refused to discuss the Greek tragedy – or reveal why their firm, Eaglevale Partners, took so long to close it down.
The Stanford graduate also declined to issue an apology to Eaglevale investors, who are said to include a string of wealthy Clinton backers and campaign contributors.
Both of Mezvinsky’s parents were immersed in Democratic politics. His father, Edward Mezvinsky, served two terms in the U.S. House of Representatives, and his mother, mother, Marjorie Margolies, served one term there.
But his father is probably best known for serving five years in a federal prison after pleading guilty to 31 counts of fraud for scamming family and friends out of $10 million in a Ponzi scheme.
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