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18 May 2009

Hedge Fund Backed Korean-American for Boston Mayor?

Hedge fund donors are behind Sam Yoon, candidate for mayor of Boston, according to the Boston Globe.

South Korea born, Yoon is already among the most prominent Korean-Americans in elected office, along with the mayors of Irvine, Calif., and Edison, N.J. He has used his stature to raise his profile as a political activist, the paper reported.

A Korean-American hedge fund manager in New Jersey last gear gave $100,000 with which Yoon founded a political action group, Asian Political Leadership Fund.

Yoon has spent $60,000 from the fund to run ads in Asian-language newspapers for candidates nationwide, including Hubert Vo, a Vietnamese-American state representative in Texas; Ashwin Madia, an Indian-American Iraq war veteran who ran unsuccessfully for Congress in Minnesota; and Barack Obama.

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