SECRET EMPIRES: Joe Biden’s Son’s Firm Struck Billion-Dollar Deal With Chinese Govt 10 Days After Biden Visited China
A new book, Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends reveals how the Biden family secured a billion-dollar China deal just days after former Vice President Joe Biden visited China in 2013.
The Clintons aren’t the only ones securing huge contracts with foreign governments off their political status.
Joe Biden and his son Hunter Biden – photo: AP via Breitbart
The Biden bombshell is one of many revealed in a new investigative book Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends by Government Accountability Institute President and Breitbart News Senior Editor-at-Large Peter Schweizer. Schweizer’s last book, Clinton Cash, sparked an FBI investigation into the Clinton Foundation.
According to an exclusive New York Post excerpt from the book, the Biden billion-dollar China deal occurred as follows. In 2013, Hunter Biden was managing partner in the private equity firm Rosemont Seneca Partners. The Chinese funds were managed by Rosemont Seneca Bohai, which did not involve Chris Heinz.
In December of that year, Vice President Biden and his son Hunter flew aboard Air Force Two to China. Ten days after the trip, a subsidiary of the Bank of China named Bohai Capital signed an exclusive deal with Hunter Biden and Chris Heinz’s Rosemont to form a $1 billion joint-investment fund called Bohai Harvest RST. The deal was later increased to $1.5 billion.
“The Chinese government was literally funding a business that they co-owned along with the sons of two of America’s most powerful decision makers,” writes Schweizer in Secret Empires.
The Biden bombshell is just one of many to be revealed in the book Secret Empires which goes on sale March 20th.
John Kerry’s stepson Chris Heinz joined forces with Hunter Biden and Devon Archer a longtime Heinz and Kerry family friend, reports the New York Post.
The three friends established a series of related LLCs. The trunk of the tree was Rosemont Capital, the alternative investment fund of the Heinz Family Office. Rosemont Farm is the name of the Heinz family’s 90-acre estate outside Fox Chapel, Pennsylvania.
The small fund grew quickly. According to an email revealed as part of a Securities and Exchange Commission investigation, Rosemont described themselves as “a $2.4 billion private equity firm co-owned by Hunter Biden and Chris Heinz,” with Devon Archer as “Managing Partner.”
The partners attached several branches to the Rosemont Capital trunk, including Rosemont Seneca Partners, LLC, Rosemont Seneca Technology Partners, and Rosemont Realty.
And just like that, over the course of seven years as Biden served as Vice President and John Kerry served as Secretary of State and negotiated high-stakes deals with foreign governments, Rosemont entities magically secured a series of exclusive deals with those SAME FOREIGN GOVERNMENTS.
More from the New York Post:
Some of the deals they secured may remain hidden. These Rosemont entities are, after all, within a private equity firm and as such are not required to report or disclose their financial dealings publicly.
Some of their transactions are nevertheless traceable by investigating world capital markets. A troubling pattern emerges from this research, showing how profitable deals were struck with foreign governments on the heels of crucial diplomatic missions carried out by their powerful fathers. 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.
Nowhere is that more true than in their commercial dealings with Chinese government-backed enterprises.
Read the full report with more details about Biden’s billion-dollar baby by the New York Post here.
SECRET EMPIRES: Biden, Kerry Sons’ Firm Struck Billion-Dollar Deal with Chinese Govt Days After VP Visit https://t.co/FEuhiOpXbU
— Tom Fitton (@TomFitton) March 15, 2018