It must be nice to be a child of royalty especially when daddy is a Democrat devoid of inhibitions and prone to breaking the law.
In 2013, Joe Biden took his son to China with him and two weeks later China cuts him and Chris Heinz, stepson of John Kerry in on a 1.5 billion dollar deal. Hunter Biden and Chris Heinz were cut into the deal partnering with the Chinese bank and merging with Biden’s Rosemont Seneca Partners.
The new entity known as Rosemont Seneca Bohai, was a YUGE deal for Biden. At the time of the deal Biden was VP and Kerry was Secretary of State.
The Biden bombshell is one of many revealed in a new investigative book Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends by Government Accountability Institute President and Breitbart News Senior Editor-at-Large Peter Schweizer. Schweizer’s last book, Clinton Cash, sparked an FBI investigation into the Clinton Foundation.
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 Chinese government was literally funding a business that they co-owned along with the sons of two of America’s most powerful decision-makers,” writes Schweizer in Secret Empires.
Reports the New York Post.
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.
More from the New York Post:
Some of the deals they secured may remain hidden. These Rosemont entities are, after all, within a private equity firm and as such are not required to report or disclose their financial dealings publicly.
Some of their transactions are nevertheless traceable by investigating world capital markets. A troubling pattern emerges from this research, showing how profitable deals were struck with foreign governments on the heels of crucial diplomatic missions carried out by their powerful fathers. Often those foreign entities gained favorable policy actions from the United States government just as the sons were securing favorable financial deals from those same entities.
Nowhere is that truer than in their commercial dealings with Chinese government-backed enterprises.
Read the full report with more details about Biden’s billion-dollar baby by the New York Post here.
What do you suppose the media would be saying if they were two Republicans and not Democrats? You would not see anything else in the news for the next two months.
Especially if they were Trump’s sons.