Joe Biden recently said
China wasn't a threat
to the U.S..
Certainly not a threat
to the Bidens !
In 2014,
Vice President Biden
and his son Hunter
flew to China on
Air Force Two.
Twelve days later,
Hunter's private equity
firm was given $1 billion
to play with, by a subsidiary
of the Chinese government's
Bank of China, which was
later expanded to $1.5 billion.
The government
of America’s
top competitor
went into business
with the son
of America’s
Vice President.
"If it sounds shocking
that a vice president
would shape US-China
policy as his son
-- who has
scant experience
in private equity —
clinched a coveted
billion-dollar deal
with an arm of the
Chinese government,
that’s because it is"
Peter Schweizer
"Look how both parties
now are on guard against
the threat that China
presents to America
-- maybe except
Joe Biden."
Secretary of State
Mike Pompeo
Hunter Biden and his partners
created several limited liability
corporations involved in
multibillion-dollar private equity
deals with Chinese government
owned entities.
The primary operation was
Rosemont Seneca Partners,
founded in 2009 and controlled
by Hunter Biden, John Kerry's
stepson Chris Heinz, and Heniz's
longtime associate Devon Archer.
The trio began
making deals
through a series of
overlapping entities
under Rosemont.
Hunter Biden and Archer
met with top Chinese officials
in China, and partnered with
the Thornton Group -
a Massachusetts-based
consultancy headed by
James Bulger - son of
famed mob hit man
James "Whitey" Bulger.
According to
the Thornton Group's
Chinese-language website,
Chinese executives
"extended their warm welcome"
to the "Thornton Group,
with its US partner Rosemont
Seneca chairman Hunter Biden
(second son of the now
Vice President Joe Biden.)"
Details of the meeting
were not published on the
English-language version
of the website.
"The timing of this meeting
was ... just hours before
Hunter Biden’s father,
the vice president, met with
Chinese President Hu Jintao
in Washington as part of the
Nuclear Security Summit,"
according to Peter Schweizer.
Just twelve days after Hunter
and Joe Biden flew
on Air Force Two to Beijing,
Hunter's company signed a
"historic deal with
the Bank of China,"
described by Schweizer as
"the state-owned financial
behemoth often used as a tool
of the Chinese government."
Hunter Biden had no experience
in China, and little in private equity.
The Bank of China
created a unique type
of investment fund
called Bohai Harvest RST
(BHR).
Devon Archer became
the vice chairman
of Bohai Harvest,
helping oversee some
of the fund’s investments.
BHR became
an "anchor investor"
in the IPO of China General
Nuclear Power Corp (CGN)
in December 2014,
a state-owned energy company
involved in the construction
of nuclear reactors.
CNG was interested in
American-made nuclear
components that resembled
those used on US
nuclear submarines.
( In fact, CGN was charged
by the US Justice Department
in April 2016 with stealing
nuclear secrets from
the United States, which
U.S. prosecutors warned
could cause
"significant damage
to our national security." )
In December 2014,
the Chinese state-backed
conglomerate called
Gemini Investments Limited
made a $34 million investment
into a fund managed
by Rosemont.
In August 2015,
Rosemont Realty,
a sister company
of Rosemont Seneca,
announced that
Gemini Investments
was buying a 75% stake
in the company.
The deal included a $3 billion
commitment from the Chinese,
who were eager to invest
in the US real estate market.
After the sale, Rosemont Realty
was rechristened Gemini Rosemont.
In 2015, BHR partnered with
a subsidiary of Chinese
state-owned military
aviation contractor Aviation
Industry Corporation of China
(AVIC)
to purchase American
precision-parts maker Henniges.
That transaction required approval
from the Committee of Foreign
Investment in the United States
(CFIUS),
the committee that approved
the Uranium One deal.
