Senate Report: Hunter Biden’s Chinese Payments Raise Criminal Concerns, Extend To James Biden

Senate Report: Hunter Biden’s Chinese Payments Raise Criminal Concerns, Extend To James Biden

Senate investigators released an earth-shattering report Wednesday outlining a long list of the Biden family’s conflicts of interest conducting shady overseas business activity with foreign adversaries while serving at the upper echelons of government, raising significant national security concerns with potentially criminal conduct and threats of extortion.

According to the joint report from the Senate Homeland Security and Governmental Affairs Committee with the Senate Treasury Committee, Hunter Biden, along with business partner Devon Archer, “engaged in numerous financial transactions with Chinese nationals who had deep connections to the Communist Chinese government.”

These connections, investigators wrote, include Ye Jianming, the founder of CEFC China Energy Co. Ltd (CEFC), and his associate, Gongwen Dong, who reportedly carried out transactions for Jianming’s companies. Ye, the report noted, who formerly held positions with the People’s Liberation Army, also possessed financial connections to former Vice President Joe Biden’s brother, James Biden.

For years, according to the Senate report, Hunter Biden leveraged his vast network of connections to ultimately create the investment firm Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co. (BHR), which prioritized investing Chinese capital in overseas projects. The financial group received its approval for a Chinese business license after a series of meetings arranged by Hunter Biden on a government 2013 government trip to China with his vice president father, both flying aboard Air Force Two.

The firm, according to the Wall Street Journal, “is controlled and funded primarily by large Chinese government-owned shareholders” and channeled at least $2.5 billion into automotive, energy, mining, and technology deals on behalf of these investors.

“BHR’s extensive connections to Chinese government intertwined its existence with the decision-making of Communist party leaders,” wrote investigators in the Senate report, highlighting the presence of a consortium that includes the China Development Bank tied to Ye, which controls 30 percent of BHR as an example. Once Ye fell from Chinese President Xi Jinping’s good graces, the Chinese bank pulled lines of credit from Ye’s CEFC.

The Senate’s report outlined a number of other projects Ye and Hunter Biden cooperatively worked on, including Biden’s assistance to help Ye execute a $40 million investment for a natural gas project in Louisiana that ultimately fell through.

James Biden is named in the report, along with his wife Sara Biden and Hunter Biden, as an authorized user for a line of credit opened by Gongwen. The family then went on a more than $100,000 shopping spree purchasing extravagant items that included airplane tickets and high-tech products from Apple.

“The transaction was identified for potential financial criminal activity,” Senate investigators wrote.

Tristan Justice is a staff writer at The Federalist focusing on the 2020 presidential campaigns. Follow him on Twitter at @JusticeTristan or contact him at [email protected]
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