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-owned 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 again 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 his partner, Devon Archer, a longtime friend of the Heinz family, 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.
There is more about their dealings with a Chinese Communist government company in 2015 known for stealing trade secrets. That involves national security implications.
In 2015, BHR joined forces with the automotive subsidiary of the Chinese state-owned military aviation contractor Aviation Industry Corporation of China (AVIC) to buy American “dual-use” parts manufacturer Henniges.
AVIC is a major military contractor in China. It operates “under the direct control of the State Council” and produces a wide array of fighter and bomber aircraft, transports, and drones — primarily designed to compete with the United States.
The company also has a long history of stealing Western technology and applying it to military systems. The year before BHR joined with AVIC, the Wall Street Journal reported that the aviation company had stolen technologies related to the US F-35 stealth fighter and incorporated them in their own stealth fighter, the J-31. AVIC has also been accused of stealing US drone systems and using them to produce their own.
In September 2015, when AVIC bought 51 percent of American precision-parts manufacturer Henniges, the other 49 percent was purchased by the Biden-and-Kerry-linked BHR.
Henniges is recognized as a world leader in anti-vibration technologies in the automotive industry and for its precise, state-of-the-art manufacturing capabilities. Anti-vibration technologies are considered “dual-use” because they can have a military application, according to both the State Department and Department of Commerce.
This reeks of possible pay-to-play and needs to be investigated.
As an aside Hunter does not have a stellar personal reputation.
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