by WorldTribune Staff, September 29, 2020
A network of shady foreign clients lined up to pour millions into the bank account of Hunter Biden, all while his father, Joe Biden, served as vice president, a Senate report said.
The report released last week traced bank transfers based on U.S. government reports which “show potential criminal activity” by Hunter Biden, other family members, and business partners.
According to the report, Hunter Biden’s financial sources included a Russian oligarch; a Ukraine oligarch; a Kazakhstan holding company and Chinese businessmen tied to the Communist Party and People’s Liberation Army.
Meanwhile, Hunter Biden sent thousands of dollars to Russian and Ukraine women tied to human trafficking and prostitution, the report said.
“The report’s phrasing is a sure indicator that Hunter Biden and his associates showed up by name in confidential Suspicious Activity Reports (SARS) issued by the Treasury Department,” Washington Times reporter Rowan Scarborough noted on Sept. 24.
In one instance, after Hunter Biden transferred nearly $2 million to his uncle, which was ultimately connected to Chinese businessmen, the bank inquired about the large amount. It then closed the account when the Bidens were not forthcoming, the Senate report said.
The report’s authors, Senate Finance Committee Chairman Charles Grassley, Iowa Republican, and Senate Homeland Security and Government Affairs Committee Chairman Ron Johnson, Wisconsin Republican, stated:
“In particular, these documents show that Hunter Biden received millions of dollars from foreign sources as a result of business relationships that he built during the period when his father was vice president of the United States and after. These foreign nationals have questionable backgrounds that have been identified as being consistent with a range of criminal activities, including but not limited to organized prostitution and/or human trafficking, money laundering, fraud, and embezzlement.”
- The Ukraine energy firm Burisma Holdings and its oligarch boss, Mykola Zlochevsky were a major source of Hunter Biden’s cash bonanza. The U.S. State Department views Zlochevsky as one of the most corrupt men in Ukraine. He paid a $25 million bribe to the public prosecutor investigating his alleged money laundering, the Senate report said.
- In April 2014, then-Vice President Biden became the Obama administration’s point man on Ukraine. The next month, Hunter Biden showed up on Burisma’s board of directors. He joined his business partner Devon Archer.
- In the ensuing years, Burisma paid the two over $4 million. From May 2014, to February 2016, 48 wire transfers totalling $3.4 million went to Rosemont Seneca Bohai, a shell company run by Archer in partnership with a Chinese investment fund.
- In 2014-15, Rosemont sent $700,000 to Hunter Biden. After Archer was arrested for alleged financial fraud in 2016, Burisma directly sent $752,000 to Hunter Biden’s law firm.
- Russia’s only woman billionaire, Elena Baturina, wired Biden $3.5 million for consulting services in February 2014, the same month Russian troops invaded Ukraine’s Crimea. She sent another $241,000 in 2015.
- As an oligarch, Baturina would have close ties to Russian President Vladimir Putin. She wired the money to Rosemont Seneca Thornton LLC, co-founded by Hunter Biden.
- Another Biden firm was Rosemont Seneca Partners, which included Archer and Christopher Heinz, stepson to former Sen. John Kerry, Massachusetts Democrat.
- Treasury reported these bank transfers, the Senate report said, “because of Baturina’s reported criminal activity.”
- On the day in 2014 that Vice President Biden addressed the Ukraine parliament as the new Obama administration point man, Novatus Holding, a private company in Singapore, used a Latvian bank to wire $142,300 to Rosemont Seneca Bohai. The transaction report said “for Rosemont Seneca Bohai LLC for a car.”
- The sole shareholder of Novatus is Kenges Rakishev who has ties to Kazakhstan’s power elite. He sent the money to Hunter Biden’s partner at a time when the country was debating whether to approve of Russian’s invasion of Crimea that February.
Biden also raked in millions of dollars from China.
- “Hunter Biden has extensive connections to Chinese businesses and Chinese foreign nationals that are linked to the Communist government,” the Senate report said. “Those contacts bore financial fruit when his father was vice president and after he left office.”
- “During 2010-2011, as a representative of Rosemont Seneca, Hunter Biden networked with representatives from Chinese state-owned enterprises and representatives of the Boston-based Thornton Group,” the report said
- Constant figures in Biden financial forays in China are Ye Jianming, who ran an energy fund worth $33 billion, and an associate, Gongwen Dong. Both men were close to the ruling Communist Party, which planted layers of party members throughout the fund’s holdings.
- Hunter Biden and Archer in 2012 formed Bohai Harvest Shanghai Equity Investment Fund Management Co. (BHR). The company is today mostly owned by Chinese entities. In December 2013, Hunter Biden flew with his dad on Air Force Two to Beijing. After the trip, China approved BHR’s business license.
- In 2016, Hunter Biden and Gongwen, who executes transactions for companies controlled by Ye, opened a line of credit for their New York business Hudson West III LLC. Hunter Biden, Joe Biden’s brother James and his wife Sara used credit cards from that bank.
- “The Bidens subsequently used the credit cards to purchase $101,291.46 worth of extravagant items, including airline tickets and multiple items at Apple Inc. stores pharmacies, hotels and restaurants,” the Senate report says. “The cards were collateralized by transferring $99,000 from a Hudson West III account to a separate account, where the funds were held until the cards were closed.”
- The Treasury Department tagged the transactions as “potential criminal active.”
- The Senate report says Hunter Biden also “sent thousands of dollars to individuals who have either: 1) been involved in transactions consistent with possible human trafficking; 2) an association with the adult entertainment industry; or 3) potential association with prostitution.”
- The report continues: “Some recipients of those funds are Ukrainian and Russian citizens. The records note that it is a documented fact that Hunter Biden has sent funds to nonresident alien women in the United States who are citizens of Russia and Ukraine and who have subsequently wired funds they have received from Hunter Biden to individuals located in Russia and Ukraine. The [Treasury] records also note that some of these transactions are linked to what ‘appears to be an Eastern European prostitution or human trafficking ring.’ ”