Video: Joe Hunt describes all of the legitimate business activities of the BBC.

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The name “Billionaire Boys Club” has become associated with scandal, but in this interview, Joe Hunt describes all of the legitimate business enterprises his organization — actually named BBC, which stood for the Bombay Bicycle Club — was pursuing.

Transcript:

We were organized to do legitimate business. Businesses at the outset of BBC ranged from a car company called West Cars of North America that were importing grey market automobiles from Europe so these were cars that were not up to EPA and American Department of Transportation or DOT spec.

We had a warehouse in Gardenia with a lift and a 2 gas analyzer. We had an employee named Frank Rabinsky who was our mechanic and it was our intent to import these cars from Europe and bring them into compliance and sell them. At the time there was a significant difference between what cars were selling for Europe and what luxury cars were selling for in the United States. It was an attempt to arbitrage that difference and secondly we have a company called Microgenesis of North America.

We hired a guy named Eugene Browning to build a sophisticated sort of rock pulverizer called a cyclotron and our goal was and we ultimately did. So some men go under contract with a group that was doing gold mining and wanted to use those same connections with them.

We also had Financial Futures Trading of North America which was a legitimate way to manage money for people by trading spreads in the interest rate futures market at the New York Mercantile Exchange and in the Chicago Mercantile exchange.

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