A New York Times explosive report detailing Hunter Biden's dealings with Chinese partners may eventually prove the undoing of Biden's presidency. The newspaper's findings are just the latest in a string of lucrative deals the president's son engineered by piggy-backing on his influential father.
The bombshell details in the Times represent a shocking about-face for the newspaper, which has swaddled the president in fawning coverage since his election. The Times, which dug into every aspect of Mr. Trump's debunked connections with Russia, had shown no interest in Hunter's ties with China.
Does the Times story signal a seismic shift in the media scrutiny of Mr. Biden?
The answer is a resounding No! CNN, MSNBC, ABC, CBS, NBC and other mainstream parasites ignored the Times reporting. There is nothing to see here, their newsrooms concluded. Imagine if Donald Trump Jr. had struck a deal with the Russians. Would the media wink and look the other way?
In its account, the Times describes how the president's son was a founding board member of a firm that facilitated a Chinese company's purchase of an American company's cobalt mine, located in the Democratic Republic of Congo. It is one of the richest cobalt mines in the world.
In the deal, China Molybdenum (CM) purchased the mine for $2.65 billion in 2016 from Phoenix-based Freeport-McMoRan Inc. A Shanghai firm, Bohai Harvest (BHR) Equity Investment Management Company, sold its minority stake to CM for $1.14 billion. Hunter Biden served on the BHR board.
A lawyer for Hunter initially claimed he "no longer holds any interest" in Communist-backed BHR. However, Chinese business records show Hunter held a 10% stake in the Chinese private equity firm BHR through his company, Skaneateles LLC.
Skaneateles, registered in Washington D.C., was hatched on July 18, 2008. Hunter Biden is listed as the sole executive officer, according to OpenCorporate, a public data source. The limited liability corporation was dissolved on September 2, 2021, a couple months before the Times story broke.
For the benefit of Democrats, who believe every negative story about Mr. Biden is part of some vast right wing conspiracy, here are the key paragraphs lifted directly from the the liberal Times report:
"The three Americans, all of whom served on the board, controlled 30 percent of BHR, a private equity firm registered in Shanghai that makes investments and then flips them for profit. The rest of the company is owned or controlled by Chinese investors that include the Bank of China, according to records filed with Chinese regulators."
"But BHR's role in the Chinese mine purchase was not a major focus (during the 2020 election.) It has taken on new relevance because the Biden Administration warned this year that China might use its growing dominance of cobalt to disrupt America's retooling of its auto industry to make electric vehicles. The metal is among key ingredients in electric car batteries."
The deal potentially could compromise the president's dealings with China. There is no doubt Hunter Biden benefited financially from his cozy relationship with the Chinese, including the 100% Communist controlled Bank of China. The only remaining question is: How much did President Biden know?
The president's apologist, Jen Psaki, defended Mr. Biden by repeating the clumsy excuse that her boss knows nothing about his son's foreign business dealings. Only the most naive Democrat partisan would believe such tripe. Psaki's claim is fiction, not factual.
There have been numerous media reports about Hunter's overseas deals in the last five years and a Senate Committee probe. Does no one in the administration, including Psaki, inform the president of these developments? Or is the president clueless? Come on, man.
In 2015, then Chairman of the Senate Finance Committee Chuck Grassley called for scrutiny of Hunter's joint venture with the same Chinese investment entity (BHR) after a transaction to purchase an American automotive technology company with potential military applications.
The deal breezed through U.S. approvals, prompting Sen. Grassley to inquire whether the Obama-Biden administration intervened in the process. China's government Aviation Industry Corporation teamed with BHR to buy Henniges Automotive, a producer of high-tech, anti-vibration components for cars.
The $600 million acquisition gave the Chinese aviation firm a 51% stake in the business and direct control of the anti-vibration technology. In 2007, this same Chinese government aviation company was reportedly involved in stealing sensitive data about the new U.S. Strike Fighter program.
Despite the conflicts, Hunter and BHR passed muster with the Obama administration's Committee on Foreign Investment. But wait there's more. Secretary of State John Kerry's department signed off, too. Well, look at this. Kerry's stepson was a partner with Hunter in BHR investment at the time.
Hunter has shamelessly exploited his father's role to enrich himself. But of course, then Vice President Biden claimed in 2015 he had no idea his son was involved with the Chinese Communist government. Yeah, that's right. Believe it. See there is no conflict of interest here. What influence peddling?
In 2013, Hunter accompanied his father aboard Air Force Two to Beijing. The Vice President was on official government business. Hunter hopped a ride on the U.S, government plane with his daughter. Official government records document the trip.
Ten days after he left, China issued Hunter a license to do business in the Communist country. Within three weeks, Hunter's firm inked a private equity deal with the Communist Chinese controlled Bank of China. That was the birth of BHR, an investment vehicle orchestrated by the Chinese.
NBC News reported the following about the junket: "Throughout the weeklong trip, Hunter Biden seemed to duck in and out, sometimes joining his father at events and red-carpet ceremonies, and at other times, following his own itinerary, presumably with his daughter Finnegan."
Communists view investments as a way to gain influence, particularly when a key participant is the son of the U.S. Vice President. Did Mr. Biden have no idea about the appearance of impropriety of such a deal? He ushered Hunter into the waiting arms of China under the imprimatur of the U.S. government.
Apparently it never dawned on Mr. Biden, if you believe his version of the events. Americans are supposed to dumb enough to believe Hunter just rode along on Air Force Two on some sight seeing junket to Shanghai and somehow stumbled into a sweetheart investment deal. How lucky is Hunter?
An investigation, overseen by GOP Senators Ron Johnson and Chuck Grassley, produced an exhaustive report illuminating the potential conflicts of interest arising from Hunter Biden's deals, including those with Chinese firms. The report, issued September 23, 2020, spurred little media interest.
The report is a joint effort between the Senate Committee on Homeland Security and Governmental Affairs and the Senate Committee on Finance. The report, available online, contains dates, financial details and Chinese firms linked to deals with Hunter.
The report's staff uses Secret Service records to document that Hunter Biden scheduled at least six trips to China. Hunter received Secret Service protection in January 2009 after Joe Biden's election as Vice President. On these trips, he became involved in a series of deals with Chinese partners.
One such lucrative arrangement was with Chinese firm CEFC Infrastructure Investment, a foreign limited liability company registered in New York. The firm is a subsidiary of CEFC China Energy Corporation, which received funding from the state-owned China Development Bank.
Ye Jianming, who runs the investment arm, joined with Hunter in what turned out to be a financial bonanza for the president's son and other members of the Biden family. CEFC Infrastructure Investment formed another limited liability company, Hudson West III, the report revealed.
Hudson then collateralized a $99,000 line of credit with Cathay Bank. Hunter, the president's brother James, and his wife Sara, were authorized users of credit cards associated with the account. The trio ran up credit card debts of $101,291.46 on airline tickets, hotels, restaurants and purchases at Apple Stores.
During 2018, the report cites evidence that Hunter Biden's law firm, Owasco, moved large sums of money to relatives. Between August 14, 2017 and August 3, 2018, Owasco sent 20 wires totaling $1,398,999 to the Lion Hall Group, a consulting firm that lists James and his wife Sara as partners.
In addition, Hudson West II paid $4,790,375.25 in consulting fees to Hunter's law firm, Owasco, in a single year. Records turned over to the Senate committee indicate Hunter was compensated for market research on a natural gas project, that was later scrapped.
Former President Trump was tortured by the media for three years about his collusion with Russia. Evidence from indictments by special prosecutor John Durham point to a fake dossier, manufactured by Russians, financed by Hillary Clinton and promoted by a corrupt FBI.
(Democrats are screaming: "Yeah, but Mr. Biden didn't start an insurrection," as if this justifies behavior that has the appearance of a quid-pro-quid deal for his son who hobnobbed with Chinese government officials while he was in Shanghai with his father.)
What if the real collusion is between Hunter Biden and China? Have his profitable deals influenced President Biden in his dealings with the Communists on issues such as climate change, the Coronavirus origin or China's threats to Taiwan? The Chinese only dole out millions expecting something in return.
The Democrat controlled House and Senate will never snoop into Biden family deals. Washington's interest level may escalate if Republicans reclaim the House in the mid-terms. Since Democrats appear infatuated with impeachments, they may regret their obsession if the next one claims one of their own.
No comments:
Post a Comment