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“They Call That A Payoff”: Trump Says China Should Investigate Bidens Over ‘Billions’ Taken Out Of Country

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President Trump on Thursday said that China should “start an investigation into the Bidens,” telling reporters “what happened in China is just about as bad as what happened with Ukraine.”

Trump then added, “I’m sure that President Xi does not like being under that kind of scrutiny, where billions of dollars is taken out of his country by a guy that just got kicked out of the Navy. He got kicked out of the Navy, all of the sudden he’s getting billions of dollars. You know what they call that? They call that a payoff.

To recap, journalist Peter Schweizer claims that in 2013 then-Vice President Joe Biden and his son Hunter flew to China together on Air Force Two.

Two weeks later, Hunter’s investment firm inked a $1.5 billion private equity deal with a subsidiary of the state owned Bank of China. 

“If it sounds shocking that a vice president would shape US-China policy as his son — who has scant experience in private equity — clinched a coveted billion-dollar deal with an arm of the Chinese government, that’s because it is” –Peter Schweizer via the New York Post

As we noted in May, here’s what we know:

  • Hunter Biden and his partners created several LLCs involved in multibillion-dollar private equity deals with Chinese government-owned entities.
  • The primary operation was Rosemont Seneca Partners – an investment firm founded in 2009 and controlled by Hunter Biden, John Kerry’s stepson Chris Heinz, and Heniz’s longtime associate Devon Archer. The trio began making deals “through a series of overlapping entities” under Rosemont.
  • In less than a year, Hunter Biden and Archer met with top Chinese officials in China, and partnered with the Thornton Group – a Massachusetts-based consultancy headed by James Bulger – son of famed mob hitman James “Whitey” Bulger.
  • According to the Thornton Group’s Chinese-language website, Chinese executives “extended their warm welcome” to the “Thornton Group, with its US partner Rosemont Seneca chairman Hunter Biden (second son of the now Vice President Joe Biden.”
  • Officially, the China meets were to “explore the possibility of commercial cooperation and opportunity,” however details of the meeting were not published to the English-language version of the website.
  • “The timing of this meeting was also notable. It occurred just hours before Hunter Biden’s father, the vice president, met with Chinese President Hu Jintao in Washington as part of the Nuclear Security Summit,” according to Schweizer.
  • Perhaps most damning in terms of timing and optics, just twelve days after Hunter and Joe Biden flew on Air Force Two to Beijing, Hunter’s company signed a “historic deal with the Bank of China,” described by Schweizer as “the state-owned financial behemoth often used as a tool of the Chinese government.” To accommodate the deal, the Bank of China created a unique type of investment fund called Bohai Harvest RST (BHR). According to BHR, Rosemont Seneca Partners is a founding partner.

It was an unprecedented arrangement: the government of one of America’s fiercest competitors going into business with the son of one of America’s most powerful decisionmakers.

Chris Heinz claims neither he nor Rosemont Seneca Partners, the firm he had part ownership of, had any role in the deal with Bohai Harvest. Nonetheless, Biden, Archer and the Rosemont name became increasingly involved with China. Archer became the vice chairman of Bohai Harvest, helping oversee some of the fund’s investments. –New York Post

National Security implications

As Schweizer also notes, BHR became an “anchor investor” in the IPO of China General Nuclear Power Corp (CGN) in December 2014. The state-owned energy company is involved with the construction of nuclear reactors.

In April 2016, CGN was charged by the US Justice Department with stealing nuclear secrets from the United Stateswhich prosecutors warned could cause “significant damage to our national security.” CNG was interested in sensitive, American-made nuclear components that resembled those used on US nuclear submarines, according to experts.

More China dealings

It doesn’t stop there. While Hunter Biden had “no experience in China, and little in private equity,” the Chinese government for some reason thought it would be a great idea to give his firm business opportunities instead of established global banks such as Morgan Stanley or Goldman Sachs.

Also in December 2014, a Chinese state-backed conglomerate called Gemini Investments Limited was negotiating and sealing deals with Hunter Biden’s Rosemont on several fronts. That month, it made a $34 million investment into a fund managed by Rosemont.

The following August, Rosemont Realty, another sister company of Rosemont Seneca, announced that Gemini Investments was buying a 75 percent stake in the company. The terms of the deal included a $3 billion commitment from the Chinese, who were eager to purchase new US properties. Shortly after the sale, Rosemont Realty was rechristened Gemini Rosemont.

Chinese executives lauded the deal. –New York Post

“Rosemont, with its comprehensive real-estate platform and superior performance history, was precisely the investment opportunity Gemini Investments was looking for in order to invest in the US real estate market,” said Li Ming, chairman of Sino-Ocean Land Holdings Limited and Gemini Investments. “We look forward to a strong and successful partnership.”

That partnership planned to use Chinese money to scoop up US properties.

“We see great opportunities to continue acquiring high-quality real estate in the US market,” said one company executive, who added: “The possibilities for this venture are tremendous.”

Then, in 2015, BHR partnered with a subsidiary of Chinese state-owned military aviation contractor Aviation Industry Corporation of China (AVIC) in order to purchase American precision-parts maker Henniges – a transaction which required approval from the Committee of Foreign Investment in the United States (CFIUS), the same rubber-stamp committee that approved the Uranium One deal.

via zerohedge

3 Comments

  1. Hubert Parra October 5, 2019

    If DOJ investigates, maybe Americans will fibd out why billions in foreign aid monies never arrived in Ukraine for its people

    Protecting Obama HIMSELF

    Reply
  2. Janet October 5, 2019

    China and other countries should not be allowed to acquire ownership of properties in the United States. Renting is one thing, but owning is another. Hawaii has had problems with the Japanese buying up properties and businesses and overrunning mostly Ohau in the past. We already have a shortage of housing, high prices for bare land and for houses, and can’t even afford to solve the housing for Vets and the homeless so letting foreign companies and wealthy investors to purchase property is detrimental to our own needs.
    The Bidens should be investigated for what appears to be shenanigans and working hard to cover up deals by spreading them among different entities. If it was anyone except the Bidens flying on Air Force 2 to China to make these deals (obvious that is what happened) and it was a Conservative, Liberals would be knocking at the door to get this investigation going while trying to say that President Trump was involved. Somehow I have the feeling that they don’t want to know because it just exposes more of the criminal elements of the Obama Era and the Democrats/Liberals (Deep State). I am entirely in favor of a thorough investigation by China and one by the Ukraine.

    Reply
  3. Gerry G October 5, 2019

    There’s no way the Biden’s can get away with this one. They know it, and the Demonrat leaders know it. The Demonrat’s ‘deep sate’ and media-acolytes are desperately trying to influence the lemmings before the 2020 election.

    China has no treaty agreement with the U.S. like Ukraine has (created by Bill Clinton), for “assisting in corruption” investigations; and has already stated “they do not wish to be in the middle of American political business”.
    Of course they don’t. They PAID gigantic sums of money to purchase a then-sitting vice president! They know it will hurt their bottom-dollar, or possibly effect trade negotiations . . . by admitting to their corrupt activities. They do want to control America, and anything that might lead to America’s downfall, will be ‘jumped-on’. They could not resist Biden’s offer of sale.

    Trump is right. It is a ‘payoff’, and if China knows what’s good for their future trade, they SHOULD cooperate (admits they are crooked).

    Reply

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