In 2006, Biden and his uncle James Biden purchased international hedge fund Paradigm Global Advisors with an $8 million promissory note,[34] but the joint promotion of the fund by an entity of troubled Stanford Financial Group hastened the unwinding of the company in 2010.[39] In September 2008, Hunter Biden founded a consultancy company named Seneca Global Advisors that offered to help companies expand into foreign markets.[40] Biden was a partner in investment vehicles that included the name "Seneca" to denote his participation.[41] In 2009, he, Devon Archer, and Christopher Heinz founded the investment and advisory firm Rosemont Seneca Partners.[34] He also co-founded venture capital firm Eudora Global.[29] He held the position of counsel in the law firm Boies Schiller Flexner LLP in 2014.[21] Biden was on the board of directors of World Food Program USA, a 501(c)(3) charity based in Washington, D.C., that supports the work of the UN World Food Programme from 2011 to 2017; he served as board chairman from 2011 to 2015.[42]
Shell companies are often registered to the address of a different firm or company whose purpose is providing services to shell companies, including receipt of legal correspondence. Such firms can include lawyers and accountants. Also, a shell parent company can act as trustee for a trust.