Breitbart editor: Biden's son inked deal with Chinese government days after vice president's trip
Breitbart editor: Biden's son inked deal with Chinese government days after vice president's trip
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A private equity firm managed by the son of former Vice President Joe Biden struck a deal with China's state-owned bank in 2013 at the same time that Biden was in the country to meet with Chinese President Xi Jinping.
Hunter Biden, who arrived in China aboard Air Force Two alongside the vice president and the rest of the U.S. delegation, was at the time in control of Rosemont Seneca Partners LLC., a private equity firm that would go on to strike a deal with the state-owned Bank of China to create a $1 billion joint investment fund.
In excerpts from his upcoming book, “Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends,” Breitbart News senior editor-at-large Peter Schweizer writes that the China deal was part of a trend of high-stakes deals between the sons' investment firm — under the Rosemont entities umbrella — and foreign governments that were also in the middle of striking deals with the Obama administration.
Hunter Biden controlled the Rosemont entities, which describes itself as “a $2.4 billion private equity firm."
In 2011, Hunter Biden met with top Chinese government fund leaders alongside managing partner Devon Archer and James Bulger, the nephew of notorious mobster Whitey Bulger, who controls a Massachusetts-based consultancy firm. The meeting took place just hours before the vice president would meet with Hu Jintao, then China's president, in Washington as part of a nuclear security summit.
A second meeting that year between Hunter Biden and other top Chinese officials would occur in Taiwan, just two weeks after the vice president opened up strategic talks with China in Washington.
In 2013, the younger Biden would be part of an official U.S. delegation to the country. Ten days later, Rosemont entities inked a $1 billion deal with the bank of China. The deal was eventually increased to $1.5 billion.
https://thehill.com/blogs/blog-briefing-room/news/378629-breitbart-editor-biden-and-kerrys-sons-inked-deal-with-chinese