"Let's drink to Hunter Biden's lucrative financial future in China."
SOURCE—NYPOST.com
Twelve days after Hunter stepped off Air Force Two in Beijing with his VP dad and daughter, his company signed a historic deal with the Bank of China, the state-owned financial behemoth often used as a tool of the Chinese government. The Bank of China had created a first-of-its-kind investment fund called Bohai Harvest RST (BHR). According to BHR, one of its founding partners was none other than Rosemont Seneca Partners LLC.
It was an unprecedented arrangement: the government of one of America’s fiercest competitors going into business with the son of one of America’s most powerful decision-makers.
Chris Heinz (John Kerry’s stepson) claims neither he nor Rosemont Seneca Partners, the firm he had part ownership of, had any role in the deal with Bohai Harvest. Nonetheless, Biden, Archer and the Rosemont name became increasingly involved with China. Archer became the vice chairman of Bohai Harvest, helping oversee some of the fund’s investments.
Troublingly, some of those investments had major implications for national security. Hunter Biden’s father, the vice president, met earlier with Chinese President Hu Jintao in Washington as part of the Nuclear Security Summit.
In December 2014, BHR became an “anchor investor” in the IPO of China General Nuclear Power Corp. (CGN), a state-owned energy company involved in the construction of nuclear reactors. In April 2016, the US Justice Department would charge CGN with stealing nuclear secrets from the United States — actions prosecutors said could cause “significant damage to our national security.”
Of particular interest to CGN were sensitive, American-made components that, according to experts, resembled components used by the US on its nuclear submarines.