New York Post ^ | May 11, 2019 | 10:45pm | Peter Schweizer / FR Posted by E. Pluribus Unum
Why is Joe Biden so warm toward China? Last week, Biden raised eyebrows when he shrugged off concerns over the China threat. “Come on, man,” Biden said. “I mean, you know, they’re not bad folks, folks. But guess what, they’re not competition for us.” Perhaps Biden’s insouciant attitude toward the Chinese government has to do with the fact that his family does not consider them competitors but business partners. In 2013, then-Vice President Joe Biden and his son Hunter Biden flew aboard Air Force Two to China. Less than two weeks later, Hunter Biden’s firm inked a $1 billion private equity deal with a subsidiary of the Chinese government’s Bank of China. The deal was later expanded to $1.5 billion. In short, the Chinese government funded a business that it co-owned along with the son of a sitting 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. Until the publication of my book, “Secret Empires,” no one knew the deal took place. Indeed, it took me and a team of seasoned investigators nearly two years to unearth and report the facts. Without the aid of subpoena power, here’s what we know. The businesses of Hunter Biden and his partners created a series of LLCs involved in multibillion-dollar private equity deals with companies owned by the Chinese government. The centerpiece of these deals is Rosemont Seneca Partners, an investment firm controlled by Hunter Biden and his associates: Chris Heinz, who is John Kerry’s stepson, and Heinz’s longtime associate Devon Archer. The trio founded Rosemont Seneca in 2009 and quickly began making deals through a series of overlapping entities under the... (Excerpt) Read more at nypost.com ...
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During the Obama Admin, then-VP Joe Biden took his son Hunter on an official trip to China.
China then gave Hunter a billion dollar check for his equity fund followed by a second $500M check.... making it likely that Biden sold out the United States to China.
"Middle-class Joe," as he refers to himself has done very well in Democrat politics. And what was Obama's cut of the Biden deals?
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INSIDE THE SHADY PRIVATE EQUITY FUND OF BIDEN AND KERRY'S KIDS
EXCERPT--Peter Schweizer in his new book, “Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends,” details a number of ethical violations on both sides of the political aisle. One example: the little-noticed private equity firm run by the sons of Democrats Joe Biden and John Kerry, as detailed in this exclusive first excerpt.
The two men became close while serving for several decades together in the US Senate. The two “often talked on matters of foreign policy,” says Jules Witcover in his Biden biography.So their sons going into business together in June 2009 was not exactly a bolt out of the blue. But with whom their sons cut lucrative deals while the elder two were steering the ship of state is more of a surprise.
What Hunter Biden, the son of America’s vice president, and Christopher Heinz, the stepson of the chairman of the Senate Committee on Foreign Relations (later to be secretary of state), were creating was an international private equity firm. It was anchored by the multi-million Heinz family alternative investment fund, Rosemont Capital. The new firm would be populated by political loyalists and positioned to strike profitable deals overseas with foreign governments and officials with whom the US government was negotiating.
Hunter Biden, Vice President Joe Biden’s youngest son, had gone through a series of jobs since graduating from Yale Law School in 1996, including the hedge-fund business. By the summer of 2009, the 39-year-old Hunter joined forces with the son of another powerful figure in American politics, Chris Heinz. Senator John Heinz of Pennsylvania had tragically died in a 1991 airplane crash when Chris was 18. Chris, his brothers, and his mother inherited a large chunk of the family’s vast ketchup fortune, including a network of investment funds and a Pennsylvania estate, among other properties. In May 1995, his mother, Teresa, married Senator John Kerry of Massachusetts. That same year, Chris graduated from Yale, and then went on to get his MBA from Harvard Business School.
Joining them in the Rosemont venture was Devon Archer, a longtime Heinz and Kerry friend. 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. Of the various deals in which these Rosemont entities were involved, one of the largest and most troubling concerns was Rosemont Seneca Partners.
Rather than set up shop in New York City, the financial capital of the world, Rosemont Seneca leased space in Washington, DC. They occupied an all-brick building on Wisconsin Avenue, the main thoroughfare of exclusive Georgetown. Their offices would be less than a mile from John and Teresa Kerry’s 23-room Georgetown mansion, and just two miles from both Joe Biden’s office in the White House and his residence at the Naval Observatory. In short, 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.
--SNIP--rest at source
Chris Heinz (left) with John Kerry at a campaign fundraiser,
April 16, 2004./ Dennis Van Tine
Hunter and Dad, Joe Biden.
SOURCE http://nypost.com/2018/03/15/inside-the-shady-private-equity-firm-run-by-kerry-and-bidens-kids/
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Hunter Biden also had connections to jailed crook Allen Stanford
WSJ, By Susan Schmidt, Steve Stecklow and John R. Emshwiller, Feb. 24, 2009 12:01 a.m. ET
A fund of hedge funds run by two members of Vice President Joe Biden's family was marketed exclusively by companies controlled by Texas financier R. Allen Stanford, who is facing Securities and Exchange Commission accusations of engaging in an $8 billion fraud.
The $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and a Stanford Financial Group entity and was known as the Paradigm Stanford Capital Management Core Alternative Fund. Stanford-related companies marketed the fund to investors......--snip--rest at WSJ paywall