Trump should use this to torpedo Biden’s campaign. Flynn got charged for much less.
- Joe Biden’s son Hunter opened a private equity firm with the step-son of Sen. John Kerry
- Kerry and Biden were colleagues in the Senate for deaces
- Hunter flew to China with his father aboard Air Force Two when the deal got made
- The state-owned Bank of China made a deal with the younger Biden’s Rosemont Seneca Partners LLC
- Kerry and Chris Heinz run the $2.4 billion private equity firm
- The deal is explored in a new book by the author of 'Clinton Cash’
- The deal was finalized within days of the visit
Joe Biden’s son Hunter flew to China on an official visit by his father in 2013 and ended up inking a deal for his hedge fund with the Bank of China within days of the visit.
Hunter Biden accompanied his father aboard Air Force Two on a visit to China, where the vice president met with Chinese President Xi Jinping.
For the younger Biden, there was also deal-making on the agenda, according to ‘Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends,’ by Peter Schweizer, the Breitbart editor at large who rocked the 2016 with disclosures about Bill and Hillary Clinton.
The book was excerpted in the New York Post.
Hunter Biden started a private equity fund along with Chris Heinz, the stepson of Sen. John Kerry.
Kerry, the former secretary of state, was a longtime Senate colleague of Biden’s. Heinz is the son of the late Sen. John Heinz, who was the previous husband of Teresa Heinz Kerry.
The book describes a meeting in December 2013 between Hunter Biden, managing partner Devon Archer, and top Chinese government leaders.
A partnering firm, the Thornton group, described the meeting on its web site as involving the biggest fund lenders in China.
The meeting took place just hours before the senior Biden met Chinese officials, according to the book.
Ten days later, Rosemont made a deal with the Bank of China valued at $1 billion, and later boosted to $1.5 billion, The Hill reported.
Biden, who turned down a chance to run for president in 2016, citing his eldest son Beau Biden’s death, is still a prominent potential 2020 candidate.
When they arrived in China, Biden, Hunter, and his daughter Finnegan were ‘greeted by Chinese children carrying flowers,[and] the delegation was then whisked to a meeting with Vice President Li Yuanchao and talks with President Xi Jinping,’ according to the book.
‘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,’ according to the book.