VP Biden and Son Ink $1.5bn Secret Pay-for-Play Scheme with Bank of China Subsidiary 10 Days after China Visit
Author Peter Schweizer’s new book, Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends, reveals how Hunter Biden secured a billion-dollar deal with Chinese investors ten days after his father, then-Vice President Joe Biden, visited China in 2013.
On 4 December 2013, according to the USA Today, “the China leg of Biden’s swing through
" >Asia was supposed to be on how the two nations could cooperation on economic matters but China’s recent announcement that it controls the air space over the East China Sea, including island territories of Japan, made for a tense mood.” Well, as it turns out, neither were the primary reason for Joe and son, Hunter, visiting China.
Breitbart News reported:
According to an exclusive New York Post excerpt from the book, the Biden billion-dollar China deal occurred as follows. In 2013, Hunter Biden was managing partner in the private equity firm Rosemont Seneca Partners. The Chinese funds were managed by Rosemont Seneca Bohai, which did not involve Chris Heinz.
In December of that year, Vice President Biden and his son Hunter flew aboard Air Force Two to China. Ten days after the trip, a subsidiary of the Bank of China named Bohai Capital signed an exclusive deal with Hunter Biden and Chris Heinz’s Rosemont to form a $1 billion joint-investment fund called Bohai Harvest RST. The deal was later increased to $1.5 billion.
“The stepson of John Kerry, the son of Joseph Biden, when they were cabinet members of the Obama administration, create a new investment fund… then inked a billion-dollar deal with the Chinese government — the Bank of China. Then, together they proceeded… to buy a U.S. manufacturing company called Henniges, making very sensitive equipment — crucial to our American military here at home. This, look, I am very rarely at a loss for words Stuart, but this is potentially one of the biggest pay-for-play scandals we have ever seen outside of Uranium One.”