Joe Biden’s son Hunter secured a billion dollar deal for his startup equity firm with the Chinese Communist government while Biden was VP. John Kerry’s stepson Chris Heinz co-owns the business which began while Kerry was secretary of state.
Joe Biden’s son Hunter was involved in a billion dollar deal with a subsidiary of the Bank of China, owned by the Chinese Communist government. The deal with Hunter’s private equity firm was inked 10 days after Joe and Hunter Biden traveled to China in 2013 and while Joe was Vice President of the United States.
It is one of the bombshells in a new book, Secret Empires: How the American Political Class hides Corruption and Enriches Family and Friends. It is written by the investigative reporter, Peter Schweizer, who wrote Clinton Cash.
In 2013, Hunter Biden was managing partner in the private equity firm Rosemont Seneca Partners. The Chinese funds were managed by Rosemont Seneca Bohai.
In short, the son of a sitting Vice President landed a billion-dollar deal with the Chinese Communist government 10 days after both visited China. Funds were backed by the Chinese Communist government.
At the same time, Obama launched the ‘Asia Pivot’. It was all such great timing.
It must be pointed out that the Bank of China is the Chinese Communist government.
Rosemont Seneca and the Bank of China created a $1 billion investment fund called Bohai Harvest RST (BHR), a name that reflected who was involved. Bohai (or Bo Hai), the innermost gulf of the Yellow Sea, was a reference to the Chinese stake in the company. The “RS” referred to Rosemont Seneca. The “T” was Thornton.
BHR touted its “unique Sino-US shareholding structure” and “the global resources and network” that allowed it to secure investment “opportunities.” Funds were backed by the Chinese government.
To be clear, the Chinese government was literally funding a business that it co-owned along with the sons of two of America’s most powerful decision makers. At the same time, some decisions were made that favored the ChiComs.
THE WAY ROSEMONT GREW
John Kerry’s stepson Christopher Heinz went into business with Hunter Biden in 2009. Joining them in the Rosemont venture was Devon Archer, a longtime Heinz and Kerry friend.
Rosemont Capital grew branches Rosemont Seneca Partners, LLC, Rosemont Seneca Technology Partners, and Rosemont Realty. Most troubling was Rosemont Seneca Partners.
Schweizer writes: …as both Joe Biden and John Kerry negotiated sensitive and high-stakes deals with foreign governments, Rosemont entities secured a series of exclusive deals often with those same foreign governments.
Although many of the deals are not public, some could be traced.
Often those foreign entities gained favorable policy actions from the United States government just as the sons were securing favorable financial deals from those same entities.
A year after opening
Less than a year after opening Rosemont Seneca’s doors, Hunter Biden and Devon Archer were in China. They secured access at the highest levels.
The three Americans met with the largest and most powerful government fund leaders in China. This happened even though Rosemont was both new and small.
It occurred just hours before Hunter Biden’s father, the vice president, met with Chinese President Hu in Washington as part of the Nuclear Security Summit.
There were other meetings, sketchy deals
Another meeting in 2011 was just two weeks after Joe Biden had opened up the US-China strategic dialogue with Chinese officials in Washington. The group had an impressive level of access for a startup with no track record.
This reeks of possible pay-to-play and needs to be investigated.
As an aside Hunter does not have a stellar reputation. He was married to someone else while sleeping with his dead brother’s wife. His wife, who divorced him, said he gambled, frequented strip joints and does drugs. He was discharged from the service for cocaine use.
Biden Bombshell – @SebGorka on Hunter Biden’s billion dollar deal with the Chinese: I am rarely at a loss for words, but this is potentially one of the biggest pay-for-play scandals outside of Uranium One. @realDonaldTrump #MAGA #TrumpTrain #Dobbs pic.twitter.com/ntjUqtFJ17
— Lou Dobbs (@LouDobbs) March 15, 2018