June 11, 2024

Dick Morris: How Biden’s Son Got $1.5 Billion from China

By Dick Morris  April 30, 2019 at 4:54pm

Hunter Biden, Joe Biden’s son, went hunting for cash in China during an official state visit by his father, the vice president in 2013.

On his financial safari in Beijing, he managed to bag a $1.5 billion investment in his own hedge fund, Rosemont Seneca Partners.

The key moment in his hunting expedition came ten days after he accompanied his father to China when the government-owned Bank of China agreed to invest $1 billion — later upped to $1.5 billion — in Rosemont Seneca Partners.

The likes of Jimmy Carter’s brother Billy, Bill Clinton’s brother Roger, and Hillary Clinton’s brothers Tony and Hugh Rodham could only dream about paydays like this. Their manipulation of their relative’s fame and power led to paltry payoffs in the millions.

Leave it to the Bidens to break ten figures.

And Hunter made good use of China’s money.

Rosemont used part of Beijing’s billions to invest in the automotive subsidiary of Aviation Industry Corporation of China.

According to Breitbart and The Hill, AVIC is “a major Chinese military contractor accused of frequently stealing U.S. military technology.”

AVIC, armed with Hunter’s investment, went on to buy 51 percent of American precision-parts manufacturer Henniges.

Hunter purchased the other 49 percent to keep it in the family.

This strategic purchase had to be approved by the Committee on Foreign Investment in the United States, the same body that Oked Putin’s acquisition of 20 percent of America’s uranium supply.

The committee obligingly had no objection.

Hunter’s hunt began in 2011 when he and his associates met with top Chinese government fund leaders only hours before Vice President Biden met with Hu Jintao, China’s president.

Most politicians, following the likes of former Senate Majority Leader Harry Reid and the Clintons, wait until after they have been elected to let their family enrich themselves by using their influence.

But the Bidens jumped the gun.