Hunter Biden stepping down from Chinese firm, vows no foreign work if father wins in 2020

The Hill ^ | 10/13/19 | Kyle Balluck

[yesthatjallen]

Former Vice President Joe Biden’s son, Hunter Biden, is reportedly stepping down from the board of a Chinese company and will not to engage in any foreign work if his father is elected president in 2020.

“Hunter always understood that his father would be guided, entirely and unequivocally, by established U.S. policy, regardless of its effects on Hunter’s professional interests,” his lawyer, George Mesires, said in a statement, according to Bloomberg. “He never anticipated the barrage of false charges against both him and his father by the President of the United States.”

“Under a Biden Administration, Hunter will readily comply with any and all guidelines or standards a President Biden may issue to address purported conflicts of interest, or the appearance of such conflicts, including any restrictions related to overseas business interests,” the statement continued. “He will continue to keep his father personally uninvolved in his business affairs.”

Hunter Biden also said in the statement that he'll resign a private equity fund that’s backed by Chinese state-owned entities at the end of the month, according to Bloomberg.

SNIP

[xp38]

The light makes rats scurry.

[TalBlack]

If his dad is president he won’t need any FOREIGN “work”...

[UCANSEE2]

“Hunter Biden also said in the statement that he’ll resign a private equity fund that’s backed by Chinese state-owned entities at the end of the month,”

What does RESIGN A PRIVATE EQUITY FUND mean ? Isn’t that like saying you will pull all your money out of the bank and move it to another bank ?

[Liz]

WHAT IS HE HIDING? Joe Biden explodes when a reporter asks a very simple question:
“Your official role as VP-—Obama’s hand-picked point man in charge of policy in Ukraine-——
and your son’s lucrative job in Ukraine, how is that not a conflict of interest?”
Biden angrily: “I’m not going to respond to that!”
Joe Biden still insists he never spoke with his son about overseas business, even as Hunter says he did.

INVESTIGATIVE REPORTER JOHN SOLOMON REPORT:
<><> in April 2014 then-VP Joe Biden set up the Burisma deal for his son.
<><> Obama’s intel apparat was aware of Burisma transferring money from company accounts to Hunter Biden accounts.
<><> for public consumption, Burisma reportedly paid Hunter $50,000.......
<><> the actual payout was more than five times as much,
<><> (apparently the Burisma payout was split among Obama, Biden, the CIA and the FBI).
<><> at the same time Hunter was pocketing bigtime, some $5 billion IMF money to Ukraine went missing,

[Howie66]

Joe or Hunter?

Both?

[null and void]

"“Under a Biden Administration, Hunter will readily comply with any and all guidelines or standards a President Biden may issue"

Quid Pro Joe Says GO!

[Liz]

GET OUT THE BARF BAGS: Never has any American been subjected to the barrage of BS as Hunter trying to save his and his Dad's ***.

"Hunter never anticipated the barrage of false charges against both him and his father by the President of the United States. Hunter always understood that his father would be guided, entirely and unequivocally, by established U.S. policy, regardless of its effects on Hunter’s professional interests,” his lawyer, George Mesires, said in a statement, according to Bloomberg.

VINTAGE HUNTER Here's Hunter in the light suit (left) before he began his meteoric rise to the top.

Hunter's HS voted him "Most Likely to Succeed" (no mention of how).

[Redwood71]

He better keep his day job.

rwood

[morphing libertarian]

This is an admission of guilt

[chuckee]

Is the drug addled son going to return the 4 million he and his old man plied out of China and the Ukraine over the last few years?

[Kozak]

He’ll just shake down US companies.....

[ConservativeMind]

Also, Trump comes out with this big trade deal that makes it look like China is very willing to do even more with Trump, and then we hear about this with Hunter.

Interesting timing.

[Liz]

6 facts about Hunter Biden’s business dealings in China
By Peter Schweizer and Jacob McLeodOctober 10, 2019 | 4:35pm | Updated
https://nypost.com/2019/10/10/6-facts-about-hunter-bidens-business-dealings-in-china/

Peter Schweizer, best-selling author of “Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends” and Jacob McLeod, a senior researcher with the Government Accountability Institute, explain Hunter Biden’s business dealings in China when his father was vice president.

The furor over Trump’s call for Ukraine to investigate Hunter Biden’s business has brought the spotlight back to the former second family’s international dealings.

While his Ukrainian business is currently receiving most of the attention, Hunter’s dealings in China deserve at least as much scrutiny.

Trained as a lawyer at Yale, Hunter had primarily worked as a lobbyist and consultant. His previous foray into financial services, Paradigm Global Advisors, was linked to Stanford Financial, a multibillion dollar Ponzi scheme.

In 2009, Hunter co-founded a new venture, Rosemont Seneca Partners. Rosemont and Hunter were given extraordinary opportunities in China while his father was vice president. Here are some key facts:

1. Joe Biden met with Hunter’s Chinese partners days before they established a new investment firm.

In December 2013, Hunter landed in Beijing aboard Air Force Two, accompanying his father on an official visit to China. Less than two weeks later, Hunter’s company, Rosemont Seneca, became a partner in a new investment company backed by the state-owned Bank of China.

Christening the new firm Bohai Harvest RST (BHR), the partners set out to raise $1 billion for the new fund.

Representatives of the Biden family have denied any connection between the vice president’s visit and Hunter’s business. However, a BHR representative told The New Yorker earlier this year that Hunter used the opportunity to introduce his father to Chinese private equity executive Jonathan Li, who became CEO of BHR after the deal’s conclusion.

2. BHR is a multibillion-dollar enterprise.

Exceeding their initial fundraising goal, the partners at BHR raised their target to $1.5 billion for the new fund. The company’s website now brags that it manages “over RMB 15 billion” in assets — the equivalent of about $2.1 billion in today’s dollars.

Under the terms of the deal, BHR, in which Hunter’s firm held an equity stake, would be a lead investor in the fund. Other investors include China Development Bank and China’s social security fund.

Enlarge ImageJoe Biden waves as he walks off Air Force Two with his son Hunter and granddaughter Finnegan.
Joe Biden waves as he walks off Air Force Two with his son Hunter and granddaughter Finnegan.Getty Images
3. Hunter and his partners had prominent roles within the company.

Despite his relative lack of private equity experience, Hunter landed a prominent role with the new company. Under the terms of the original deal, Rosemont Seneca, Hunter’s firm, shared a 30% stake in BHR with the Thornton Group, which was run by James Bulger, the son of longtime Massachusetts state Senate President Billy Bulger. Hunter and Bulger joined the board, along with Devon Archer, Hunter’s longtime business partner. Archer would also serve as vice chairman of the fund’s investment committee.

The value of these partnerships to BHR is clear. Its own website boasts: “BHR, with its unique mixed ownership, combines the resources and platforms of China’s largest financial institutions … and the networks and know-how of our U.S.-based investment fund and advisory firm shareholders.”

Hunter Biden claimed to the New Yorker that he and his partners have not seen any money from the BHR deal. But even if true, the potential payouts are significant.

4. BHR represented a unique investment opportunity.

BHR’s relationships weren’t the only unique thing about the company. Rosemont Seneca was getting a piece of something that no other Western firm had: a private equity fund inside the recently established Shanghai Free-Trade Zone, with a focus on international acquisitions. With the backing of the state-owned Bank of China, one of the country’s “big four” financial institutions, BHR had access to the types of deals that most Western firms only dreamed of, including IPOs of state-owned companies.

5. BHR invested in strategically sensitive assets in both China and the United States.

The troubling reason why Biden is so soft on China
In December 2014, BHR became an “anchor investor” in the IPO of China General Nuclear Power Company (CGN), a state-owned nuclear company involved in the development of nuclear reactors. Not only is CGN a strategically important company in China, it was also facing legal scrutiny in the United States. In 2016, CGN was charged with espionage by the Justice Department for stealing US nuclear secrets.

As a “cross-border” investment fund, Bohai Harvest was interested in making deals outside of China. In 2015, BHR acquired Henniges Automotive, a Michigan-based producer of vibration-dampening equipment, alongside Chinese military contractor Aviation Industry Corp. of China (AVIC). Given the military applications of Henniges’ technology, the deal required federal approval. Like CGN, AVIC was suspected of stealing US technology for its purposes.

Not long after the Henniges deal closed, AVIC debuted its new J-20 fighter — incorporating designs allegedly stolen from the US’ F-35 program.

6. It wasn’t an isolated incident.

In 2015, a state-backed real estate conglomerate acquired a controlling stake in Rosemont Realty, a sister company of Rosemont Seneca where Hunter served as an advisor. As part of the deal, the Chinese promised $3 billion for commercial office property acquisitions in the US — a major windfall for the company.

It wouldn’t be Hunter’s last episode with Chinese capital. In May 2017, he met with Ye Jianming, chairman of Chinese energy company CEFC, to discuss investment opportunities in the US. After the meeting, Ye sent a 2.8-carat diamond to Hunter along with a “thank you” card. When, six months later, a CEFC executive was arrested in New York on unrelated bribery charges, his first phone call was to Hunter’s uncle, James Biden. James told the New York Times that “he believed it [the call] had been meant for Hunter” and that “he had passed on his nephew’s contact information.”

Ye, now accused of bribing a Communist Party official, has since been detained in his native China.

All of this adds up to an extremely troubling pattern. Much of the media, as they so often do, have chosen to air the spin, rather than the facts, on this issue. Did the Chinese give favorable treatment to Hunter Biden to curry favor with his vice-president father? The American public deserves to understand what exactly Hunter Biden was doing overseas and the extent of then-Vice President Biden’s involvement.

[Liz]

"Thanks Hunter, my bank statement arrived....and Michelle loved that diamond from China you gave her."

[John Milner]

I was thinking more like the multiple counts convicted armed robber telling the judge he wouldn’t rob anymore if he didn’t put him in prison. (Because, well, he’s already got plenty of money from his robberies stashed away.)

[Don Corleone]

Have his TAX RETURNS been audited????HMMMM?

[Liz]

And then Hunter sucked up in Urkaine......

[Liz]

CIRCA 2016 AZ Police Report ON HUNTER BIDEN:
Cocaine Pipe in Hunter Biden car rental; L/E Declined to Prosecute
breitbart.com ^ | 5/17/19 | MATTHEW BOYLE
FR Posted on 5/18/2019, 6:29:27 AM by Liz

Breitbart News obtained a police report filed days before Obama’s 2016 presidential election that describes a used cocaine pipe found in a rental car returned to an Arizona Hertz location in the middle of the night.

Also found inside the vehicle were Hunter’s personal effects:
<><> two drivers’ licenses both bearing Hunter Biden’s legal name, Robert Biden,
<><> credit cards with the same name,
<><> a Secret Service business card in Hunter Biden’s name,
<><> an Attorney General’s badge,
<><> a used cocaine pipe,
<><> a white powdery substance in the arm rest of the vehicle.

“Joseph McGee” called the Hertz rental car counter to inform them of how the keys to the car were left in the vehicle’s gas cap. “McGee” informed the rental car company employee that “his friend was feeling sick so they didn’t know what to do” when the car was returned. Police traced the Joseph McGee call to a phone number of a local renowned “Colon Hydrotherapist.”

One Prescott Police officer reported the Secret Service had informed the local police that “Robert Biden had been located by the Secret Service and was well.” The 23 page police document repeatedly refer to the suspect under investigation as Robert Hunter Biden and the report type as a “Narcotics Offense.”

Two different Prescott Police Department officers as well as a detective conducted an investigation—but ultimately local authorities in both the city and county attorney’s offices declined to prosecute.

A document shows the the county attorney declined to prosecute because they thought they would only be able to get minor charges to stick, and kicked it down to the city attorney. It s unclear why the city attorney declined to prosecute. (Excerpt) Read more at breitbart.com ...

[Howie66]

That’s a great analogy as well.

[MinuteGal]

Trump is embroiled in the federal court system regarding a subpoena to force him to reveal his IRS records for the past 8 years.

I suggest someone sues the Bidens, pere et fils, for their tax records for the past 20 years.

Leni