If it seems like the Biden administration is handling China with kid gloves, it might be because of five deals, brokered by folks directly tied to the top levels of the Chinese Communist Party, that have directly benefited the Biden family, to the tune of $31 million.
This is the bombshell Peter Schweizer, author of the newly-released “Red-Handed: How American Elites Get Rich Helping China Win,” dropped Thursday, in an article for The New York Post.
“Indeed,” Schweizer wrote, “every known deal that the Biden family enjoyed with Beijing was reached courtesy of individuals with spy ties. And Joe Biden personally benefitted from his family’s foreign deals.”
Take, for example, Chinese tycoon and “Super Chairman” Che Feng.
It was Che Feng who brought Hunter Biden and large Chinese state-backed investment funds together, leading to a lucrative deal with Bohai Harvest RST (BHR) worth an estimated $20 million.
Thanks to Hunter’s infamous laptop, we know he was salivating over the potential.
In an email to his business partner, Devon Archer, the younger Biden wrote: “I don’t believe in lottery tickets anymore, but I do believe in the super chairman. … I think the sky’s the limit.”
Schweizer dug into Che Feng’s background:
“This man was reportedly the director of the ministry’s No. 8 Bureau, which targeted foreigners with its intelligence apparatus — including reporters, diplomats, and businessmen,” he wrote. “It was also reported that he oversaw intelligence operations for North America.”
Schweizer went on to identify another key figure in the BHR deal, Harvest Fund Management’s Zhao Xuejun (aka Henry Zhao):
“Zhao is a communist party official,” Schweizer stated.
“But more troubling — Zhao was at that time business partners with Jia Liquing, the daughter of the former Minister of State Security, Jia Chunwang,” he continued, noting that the Minister of State Security is the Chinese equivalent to the KGB.
“Jia was famous during his tenure for developing China’s ‘deep water fish’ (Chendi yü) strategy of developing thousands of special agents on foreign soil,” says Schweizer.
These nefarious connections led to an introduction of Joe Biden by Hunter Biden to a BHR executive in December 2013, following a father and son flight to Beijing on Air Force Two.
According to Hunter Biden’s lawyer, George Mesires, in October 2019, Hunter was to resign his BHR board seat and would not see “a return on his investment or shareholder distribution.”
“What Team Biden failed to address was the fact that Hunter Biden still owned a stake in the investment fund, said to be 10%,” Schweizer revealed.
“When I first reported on Hunter Biden’s China ties in 2018, Team Biden denied that they existed,” he continued. “Then they absurdly claimed that his stake in the BHR investment fund was only $420,000.”
Researcher Steven Kaplan of the University of Chicago Booth School of Business places the number slightly higher.
“It is difficult to imagine, if not incomprehensible, that a 10% stake in those economics is worth only $420K,” Kaplan told Schweizer via email. “The distinction they appear to be making is they capitalized the management company with $4.2M even if the fund manages $2B. The value of that management company is likely far in excess of $4.2M if they are managing $2B.”
According to Hunter’s lawyer, the president’s son sold his equity stake in BHR for an undisclosed amount.
Harvest Global pops up again in Schweizer’s investigation, this time in association with another of Hunter’s companies, Burnham Asset Management which, for reasons unknown, was wired $5 million by the company Zhao founded with Jia Liqing. And that may not have been Zhao’s only payout.
For the inside skinny, Schweizer again turned to Hunter’s laptop, citing an email written to him by business partner James Bulger:
“Henry remains committed to also making something work with myself and Hunter outside of this Burnham matter as mentioned before,” the email read. “He has a few interesting ideas.”
The deal, Zhao reportedly told Hunter, would be “putting money directly into our pockets.”
As an example of yet another questionable deal, Schweizer pointed to a flailing real estate firm Hunter Biden co-founded called Rosemont Reality, stating “as early as 2011, he was looking for a Chinese buyer.”
The firm, which owns commercial buildings in the States, reportedly received an “unsolicited offer” to purchase the firm from Gemini Investments, based in Hong Kong.
It, too, is enough to raise eyebrows.
“The company [Gemini] is controlled by something then-called Sino-Ocean Land, which was also chaired by the head of China Ocean Shipping Corporation (COSCO),” Schweizer explained.
This is the company, known for its strategic dealings in Europe, that Chinese President Xi Jinping reportedly refers to as “the dragon’s head for China” and, according to Schweizer, is called the “fifth arm of the Chinese Navy” by some Western scholars.
The Bidens’ full take from the sale of Rosemont Reality remains unknown, but Hunter’s emails show he received at least one payment in the ballpark of $188,000 from Rosemont, and, following the Chinese takeover of the company, he held on to his stake.
With a looming energy crisis on the minds of many Americans and Europeans, the $6 million given to the Biden family by the Chinese head of CEFC China Energy, Ye Jianming, whose name came up in a Senate investigation into Hunter’s dealings, is another tie worth noting.
“In early 2017, one month after his father left office as vice president, Hunter Biden worked for Ye as a counselor and advisor,” Schweizer wrote, “and Joe Biden’s brother James received some of the funds that Ye transferred to Hunter.”
“Five million came in the form of a forgivable, interest free, loan,” he continued. “Ethically, a loan is worse than a cash gift for a politician’s family, because the loan giver can always demand their money back if the recipient of the funds is not doing as they like.”
Ye, it turns out, was directly funded by Chinese military intelligence in his leadership position within the China Association for International Friendly Contact (CAIFC).
“Ye Jianming’s close relationship with both the Chinese military-intelligence apparatus and the government cannot be overstated,” Schweizer stressed.
Finally, Schweizer pointed to one of Ye’s “top lieutenant,” Patrick Ho, referred to by Hunter as “the f***ing spy chief of China,” according to leaked audio obtained by RealClearPolitics.
This payout, estimated to be at a million bucks, centers around Ho’s arrest by the FBI in 2017 on bribery charges “for offering money to African officials in exchange for energy deals.”
Ho called Biden’s brother James, looking for his nephew.
Despite little experience in criminal law, Hunter somehow became CEFC’s defense attorney and received a cool million for his troubles.
“These deals are disturbing enough, and are exacerbated by the fact that every one of them was made possible by an individual with ties that sometimes went to the highest levels of Chinese intelligence,” Schweizer said.
“Americans deserve answers as to why the Bidens received some #31 million and what promises or influence did it buy,” he continued. “If Washington is to restore what’s left of its credibility, Congress must launch wide-ranging and serious investigations into the Biden family’s China cash haul and the resultant national security implications.”
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