Best-selling author Peter Schweizer claims that President Joe Biden’s son Hunter and other members of the Biden clan have received at least $31 million from various Chinese elites as part of lucrative trade deals in multiple business ventures. Schweizer detailed this alleged money-making machine in an opinion column on Thursday for the New York Post, excerpted from his latest book, “Red-Handed: How American Elites Get Rich Helping China Win.”
“For those wondering why Joe Biden is soft on China, consider this never-before-reported revelation: The Biden family has done five deals in China totaling some $31 million arranged by individuals with direct ties to Chinese intelligence — some reaching the very top of China’s spy agency,” Schweizer stated.
“Americans deserve answers as to why the Bidens received some $31 million and what promises or influence it bought,” the president of the Government Accountability Institute and “Red-Handed” author posited.
Schweizer alleged the president himself knew of such deals and was personally benefitting from his family’s business dealings with Chinese businessmen:
In a text to his daughter, Hunter Biden insinuated that he was giving half his salary to “pop.” This is more than hyperbole.
Email records back him up to the extent that they show Hunter’s businesses paying some of his father’s bills while he was vice president of the United States. This means that Joe Biden benefited from these financial deals that happened courtesy of executives linked to Chinese spies.
Breaking down the $31 million in the New York Post, Schweizer stated that Hunter likely received $20 million from selling his stake in an investment fund linked to a “Chinese tycoon named Che Feng, a k a “The Super Chairman,”
Schweizer reported that Feng “played a key role in getting the deal going by introducing Hunter and his partners to large Chinese state-backed investment funds.” Hunter sold his stake in that investment fund but did not say how much money he made from the deal.
But, Schweizer said an e-mail obtained from Hunter’s stolen laptop proved that he “saw a big payday. As he wrote in one email to business partner Devon Archer, ‘I don’t believe in lottery tickets anymore, but I do believe in the super chairman … I think the sky’s the limit.'”
“It is difficult to imagine, if not incomprehensible, that a 10% stake in those economics is worth only $420K,” an economist who evaluated that total worth of the fund told the author via email. “The distinction they appear to be making is they capitalized the management company with $4.2M even if the fund manages $2B. The value of that management company is likely far in excess of $4.2M if they are managing $2B.”
In another business deal, Hunter allegedly made millions as part of a forgivable loan — which Schweizer noted is an unethical way of making money because of the potential leverage it can provide the lender over the holder of the loan — from a businessman funded by the CCP’s military intelligence apparatus:
Ye Jianming, a wealthy Chinese businessman and the head of CEFC China Energy, provided $6 million to the Biden family, according to a Senate investigation into Hunter’s activities.
In early 2017, one month after his father left office as vice president, Hunter Biden worked for Ye as a counselor and adviser, and Joe Biden’s brother James received some of the funds that Ye transferred to Hunter.
Five million came in the form of a forgivable, interest-free loan. Ethically, a loan is worse than a cash gift for a politician’s family, because the loan giver can always demand their money back if the recipient of the funds is not doing as they like.
Jianming was also allegedly connected to another lucrative deal for the Biden’s — this time involving Joe’s brother, James.
Schweizer claimed that James was contacted by Patrick Ho — described as “one of Ye Jianming’s ‘top lieutenants,'” after Ho, “was arrested on bribery charges by the FBI for offering money to African officials in exchange for energy deals.” Ho wanted Hunter to act as his defense attorney, despite Hunter’s lack of experience in that field, the New York Post op-ed claimed. Hunter reportedly received $1 million from CEFC for services rendered to Ho.
Adding to the problem, Schweizer pointed out that leaked audio obtained by RealClearPolitics purportedly showed Hunter referring to Ho as “the f****** spy chief of China.”
Schweizer’s full opinion column can be read here and details how the Biden’s have made the rest of their $31 million from suspicious Chinese state actors.
But, The Daily Wire’s “Morning Wire” podcast also reported that Schweizer’s book reveals that it isn’t just Biden who benefited from cozying up to China, but companies such as Microsoft and Google conducted commercial deals with the Chinese Community Party, as well.
In his book, Schweizer stated that these deals come despite potential risks to our national security, Morning Wire noted.
“We have leadership in the United States, in Washington, Silicon Valley and Wall Street that are wedded to Beijing,” Schweizer wrote, “and they don’t want us to take a hard line towards Beijing when it comes to our own security, when it comes to our military competition with Beijing, because they’re compromised, they have conflicts of interest.”