Hunter Biden raked in $6m over nine months from his Chinese business dealings according to a timeline of his affairs which goes into unprecedented detail.
Joe Biden’s son was involved with a series of transactions which were flagged for ‘potential financial criminal activity’, a Senate report has revealed.
The money included a $5m payment from a Chinese energy company with ties to the Communist party and $1m for work with an associate who was later jailed for bribery.
The payments began days after Hunter sent his infamous email to one associate in 2017 talking about money for ‘the big guy’ and deals for ‘me and my family’.
The report concludes that Hunter’s business associates were ‘linked to the Communist government and the People’s Liberation Army’.
It states: ‘Those associations resulted in millions of dollars in cash flow’.
The report prepared by the Senate Homeland Security and Governmental Affairs committee, which was first reported by Fox News, comes as Hunter revealed that authorities in Delaware are investigating his tax affairs.
Hunter Biden raked in $6m over nine months from his Chinese business dealings according to a timeline of his affairs which goes into unprecedented detail
Joe Biden’s son was involved with a series of transactions which were flagged for ‘potential financial criminal activity’, a Senate report has revealed
He said that he was convinced he acted ‘legally’ but the inquiry is one of many legal investigations into his affairs.
According to Politico, federal prosecutors in Washington and New York are also looking into possible securities fraud and money laundering by the troubled 50-year-old, who has battled drug and alcohol addiction.
The Senate report focuses on Hunter’s work for Chinese company CEFC China Energy to invest in US energy projects.
CEFC’s founder and former chairman Ye Jianming gave Hunter a 2.8-carat diamond after a business meeting in Miami, CNN has reported.
2015: The start of Hunter and CEFC’s relationship
The Senate report timeline starts in 2015 when Hunter’s relationship with Ye and associate Gongwen Dong began – while his father was still Vice President
The report states: ‘Ye’s connections to the Communist government are extensive and … Ye was also financially connected to Vice President Biden’s brother, James Biden.
‘Thus, there exists a vast web of corporate connections and financial transactions between and among the Biden family and Chinese nationals’.
CEFC’s founder and former chairman Ye Jianming (pictured) gave Hunter a 2.8-carat diamond after a business meeting in Miami, CNN has reported
The Senate report timeline starts in 2015 when Hunter’s relationship with Ye and associate Gongwen Dong began – while his father was still Vice President The report states: ‘Ye’s connections to the Communist government are extensive and … Ye was also financially connected to Vice President Biden’s brother, James Biden. ‘Thus, there exists a vast web of corporate connections and financial transactions between and among the Biden family and Chinese nationals’
April 2016: Hunter sets up a new business
Hunter incorporated his business Hudson West III which would prove to be the main route for payments from China.
At some point later the ownership was divided between Hunter’s law firm Owasco PC and Coldharbour Capital LLC, each with a 50% stake.
The ownership of Coldharbour was split between two individuals, Mervyn Yan and Tian Zhang, but it has a business address identified as the address of Gongwen, suggesting closer ties than would appear.
Gongwen was a signer on one of Hunter West III’s checking accounts, which suggests at one point he was ‘associated with Hudson West III’s bank accounts and finances’.
The Biden-Harris transition team put out a statement Wednesday from Hunter Biden and President-elect Joe Biden, in which Hunter Biden revealed he was under federal investigation for his taxes
May 2017: Emails show Hunter arranging a deal
Previous reports in the New York Post based on emails found on Hunter’s laptop have identified this period as crucial in his negotiations for a deal with CEFC.
One report stated that on May 13 2017 James Gilliar of the international consulting firm J2cR sent Hunter an email which identified the President-elect’s son as ‘Chair / Vice Chair depending on agreement with CEFC’.
The email was titled ‘expectations’ and appeared to be agreeing terms to compensate Hunter.
The deal listed ’10 Jim’ and ’10 held by H for the big guy?’ – neither party was identified but Hunter’s critics have speculated it was his father.
An August 2nd 2017 email chain involving Biden worked out further terms.
Biden wrote: ‘The chairman (Ye) changed that deal after we me[t] in MIAMI TO A MUCH MORE LASTING AND LUCRATIVE ARRANGEMENT to create a holding company 50% percent (sic]) owned by ME and 50% owned by him.
‘Consulting fees is one piece of our income stream but the reason this proposal by the chairman was so much more interesting to me and my family is that we would also be partners inn (sic) the equity and profits of the JV’s (joint venture’s) investments’.
August 2017: The money begins to flow
On August 4th, CEFC Infrastructure Investment (US) LLC, a subsidiary of Ye’s company, sent $100,000 to Owasco, Hunter’s law company.
On August 8th the same subsidiary sent $5m to Hudson West III.
The report stated: ‘These funds may have originated from a loan issued from the account of a company called Northern International Capital Holdings, a Hong Kong-based investment company identified at one time as a ‘substantial shareholder’ in CEFC International Limited along with Ye. It is unclear whether Hunter Biden was half-owner of Hudson West III at that time’.
The same day Hudson West III began sending ‘frequent payments’ to Owasco, his law firm.
The payments continued for more than a year and were described as ‘consulting fees’, the report said, and totalled $4,790,375.25.
Target: Hunter Biden said Wednesday that he was the subject of a federal investigation into his taxes. The probe was started in 2018 but paused for the election
September 8 2017: Credit cards issued – and spending spree begins
CEFC announced a $9.1bn deal to buy a stake in Russian state-owned energy company Rosneft.
That same day Hunter opened a line of credit with Gongwen under the name of his business, Hudson West III.
Hunter Biden, his uncle James Biden and James Biden’s wife, Sara Biden were approved as ‘authorized users of credit cards associated with the account’.
That same day they spent more than $100,000 on airline tickets, technology products and hotel rooms, transactions that were flagged for ‘potential financial criminal activity’, the report said.
Hunter moves money to his uncle James Biden
The report says that during this period there were large sums of money moved between Hunter and James Biden.
From August 14th 2017 to August 3rd 2018, $1.4m was moved from Owasco to James Biden’s Lion Hall Group consulting firm.
March 22 2018: Hunter gets another $1m
The next important date for Hunter was March 22nd 2018 when he was paid $1m for work related to Patrick Ho Chi Ping.
He ran an organization backed by CEFC and was sentenced to three years in prison in 2018 for paying millions of dollars in bribes to officials in Chad and Uganda.
The $1m was transferred from Hudson West to Owasco with the memo line: ‘Dr Patrick Ho Chi Ping Representation’.
The report states: ‘These transactions illustrate the financial connections between Gongwen Dong’s Hudson West III, Ye Jianming’s CEFC, and Hunter Biden’s Owasco’.
It states: ‘Sara Biden told the bank that she would not provide any supporting documentation, and she also refused to provide additional information to more clearly explain the activity.
‘Consequently, the bank submitted the account for closure’.
January to October 2018: Vast sums for office expenses for James Biden
Another finding by the report was that Hudson West III sent more than $76,000 directly to James Biden’s company from January to October 2018.
The significant sums were labeled ‘office expense and reimbursement’.
WHO’S WHO IN THE HUNTER FILES
Vice president’s son was well-known to be seeking business deals in China. He traveled there in 2013 on Air Force Two and introduced his father to a business partner, Jonathan Li. In 2017, after his father left office, he pursued a relationship with Ye Jianming
Chairman and founder of CEFC China Energy, 43. A wunderkind of the Chinese energy world. Gave Hunter a diamond in 2017 as they pursued a business relationship. But in November 2017 company was accused of bribery in Africa by the DOJ, and in March 2018 he was arrested in China, reportedly on the orders of Xi Jinping. Has not been seen or heard from since but a prosecution in 2018 saw a senior Communist leader accused of taking bribes from him
Zang Jian Jun
Senior executive at CEFC and also a senior figure in the China Chamber of International Commerce
Penn State wrestler and Navy veteran turned-California businessman, 48, who appears to have done other business in China. Unclear how he and Gilliar know each other. Other business ventures include an investment in a Chinese men’s clothing company called VLOV
Bill Clinton administration official who is now co-founder of a technology-focused private equity firm, Pilot Growth. His wife Betsy Massey Walker was Jill Biden’s assistant when she was Second Lady
British-born 56-year-old businessman based in the Czech Republic. Set up jc2r, the company which is in the emails, in 2015. It is no longer active. Gilliar appears to breed race horses with his wife, Erika and appears to also be an adviser to a holding company run by the leader of Abu Dhabi’s son
Joe Biden’s younger brother and a serial entrepreneur who has long faced claims of profiting from his brother’s political career. He and Hunter were in business together in 2006 when they bought investment firm Paradigm Global Advisors which they unwound in 2010 after connections to a Ponzi fraudster emerged
The Chairman and The Big Guy
Said to be Joe Biden in many of the text exchanges although Hunter’s messages do not state this directly