Donald Trump is the third President to not accept a salary joining Herbert Hoover and John F. Kennedy. “But Trump benefits from having some dignitaries stay at one of his hotels” some will say. Sure, and most former presidents gain from the proceeds of their memoirs and speaking engagements. Shall we prohibit that, too?
But that would also be a problem for Trump’s opponent, Joe Biden: “As recently as 2009, his net worth was less than $30,000, though in recent years he has made millions from book sales and speaking fees.” 1
“In 2017, Joe Biden told a Vanity Fair writer that he sometimes wished that one of his children had gotten rich in order to provide for him in his old age. Biden and his wife, Jill, have set about providing for themselves, earning more than $15 million in the two years following the end of his vice presidency in early 2017.” 1
Biden’s Son, Hunter
Case #1: “In December 2013, Hunter Biden’s small financial advisory firm, Rosemont Seneca Partners was part of a coveted $1.5 billion private equity deal involving a subsidiary of the Bank of China, Bohai Industrial Investment Fund Management Co. and one of China’s largest asset managers, Harvest Fund Management Co. The companies relied on Chinese state-owned venture capital to raise the funds.
“The joint-investment fund was called Bohai Harvest RST. The RST stood for Rosemont Seneca Partners and Thornton Group LLC. Rosemont Seneca was headed by Hunter Biden and Devon Archer and affiliated with Rosemont Capital, a private-equity firm co-founded by Christopher Heinz, the stepson of former Secretary of State John Kerry.
“The deal was significant. The Wall Street Journal described it as ‘one of the biggest Sino-foreign collaborations in private equity.’ … According to [Peter]Schweizer [author and president of the Government Accountability Institute], there are few reasons to explain why Biden’s small consultancy was selected by the Chinese government-affiliated firms. [emphasis added] He claims that Rosemont Seneca Partners finalized the deal shortly after Hunter Biden accompanied his father on a trip to Beijing.”
“. . . “”We know he was not being paid for his expertise and we know that they [Bohai Harvest RST] made some very curious investments,” Schweizer added.
“One investment was into Face++, a facial recognition software provider that raised eyebrows as human rights groups claim it is being used to prop up China’s surveillance state. According to a report by Human Rights Watch, Face++ software is allegedly being used in the Chinese government’s crackdown on ethnic minorities.” [emphasis added]2
Case #2: “Vice President Biden traveled to Ukraine in April 2014, shortly after Russia annexed Crimea. He was working to secure a billion-dollar loan from the International Monetary Fund to help the country that had just experienced a popular overthrow of its government and was informally at war with Russia.
“Before his trip, the vice president met with Hunter Biden’s business partner Devon Archer at the White House, according to records Schweizer found in his investigation. Shortly after Biden returned from Kiev, there was a public announcement that Archer had been asked to join the board of Burisma [a Ukrainian energy firm]. Three weeks later, Hunter Biden was invited to join the company as well.
“According to financial documents, Hunted Biden was paid $3.1 million dollars by the Ukrainian over an 18-month period. Biden’s former New York-based law firm, Boies Schiller Flexner, was reportedly paid $283,000 for providing legal services to Burisma in 2014.
“. . . By the time Biden joined the board, Burisma’s owner, Mykola Zlochevsky, had fled Ukraine. His businesses, including Burisma, were under investigation by Ukraine’s Prosecutor General Victor Shokin, until Vice President Joe Biden reportedly threatened the new Ukrainian president to fire him in 2016.
“According to Biden’s own account, he told President Petro Poroshenko that he would withdraw a $1 billion U.S. loan guarantee unless he fired Shokin “If the prosecutor is not fired, you’re not getting the money,’” Biden recalled in a January 2018 speech at the Council on Foreign Relations. “Well, son of a b—-, he got fired. And they put in place someone who was solid at the time.” 2
His Brother, James
“… the two large men escorted the fund’s [Paradigm Global Advisors] president out of the firm’s midtown Manhattan office, and James Biden laid out his vision for the fund’s future. ‘Don’t worry about investors,” he said, according to the executive, who spoke on the condition of anonymity, citing fear of retaliation. ‘We’ve got people all around the world who want to invest in Joe Biden.’”
“At the time, the senator was just months away from both assuming the chairmanship of the Senate Foreign Relations Committee and launching his second presidential bid. According to the executive, James Biden made it clear he viewed the fund as a way to take money from foreigners who could not legally give money to his older brother or his campaign account. ‘We’ve got investors lined up in a line of 747s filled with cash ready to invest in this company,’ the executive remembers James Biden saying.
“At this, the executive recalled, Beau Biden, who was then running for attorney general of Delaware, turned bright red. He told his uncle, ‘This can never leave this room, and if you ever say it again, I will have nothing to do with this.’
“A spokesman for James and Hunter Biden said no such episode ever occurred. Beau Biden died in 2015, at 46.
“But the recollection of an effort to cash in on Joe’s political ties is consistent with other accounts by other former executives at the fund.” 1
An Unanswered Question for Voters
“Starting Jan. 25, 2016, Burisma began sending regular payments for Biden to his Washington law firm, Owasco PC (Owasco). Owasco was incorporated on Jan. 19, 2006, lists an agent address in Washington, and lists its executing officer and governor as Robert Hunter Biden. Payments from Burisma to Owasco continued throughout most of 2016 and ceased eight days after Donald Trump defeated Hillary Clinton in the Nov. 8, 2016 presidential election. [emphasis added] Between Jan. 25, 2016, and Nov. 16, 2016, Burisma sent nine wires totaling $752,054.99 to Owasco with each of the nine transactions listing ‘Owasco, PC/Robert Biden’ as the recipient. Of the nine, two payments were for $83,333.33, five were for $83,333 one was for $84,992.33, and one was for $83,731.291 … Biden continued to serve on Burisma’s board of directors until April 2019.”
“. . . The Biden campaign issued a statement before the report was released accusing Senator [Ron] Johnson [R-WI] of pushing ‘a long-disproven hardcore right-wing conspiracy theory’ and trying ‘to subsidize a foreign attack against the sovereignty of our elections with taxpayer dollars,’ referring to the foreign sources that Johnson and [Sen. Charles] Grassley’s [R-IA] report cited. However, the Biden campaign has not has not yet addressed the numerous allegations contained in the report that are based on non-partisan financial records called Suspicious Activity Reports (SARs) issued by the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). 3
Is this like the question regarding the Biden/ Harris plan to pack the Court? We “don’t deserve to know.”
1 – “Biden Inc.,” by Ben Schreckinger, https://www.politico.com/magazine/story/2019/08/02/joe-biden-investigation-hunter-brother-hedge-fund-money-2020-campaign-227407, 8/2/2019.
2 – “Will foreign money dominate 2020? Author explains Biden’s family ties to China, Ukraine,” by Leandra Bernstein, https://wjla.com/news/nation-world/will-foreign-money-dominate-2020-author-explains-bidens-family-ties-to-china-ukraine, 6/7/2019.
3 – “Senate exposes a rogues’ gallery of shady foreign associates behind lucrative deals,” by Seamus Bruner, https://justthenews.com/accountability/russia-and-ukraine-scandals/senate-exposes-rogues-gallery-shady-foreign-associates, 9/25/2020.