Video series exposes financial ties between Biden family, foreign oligarchs: Report

May 23, 2019

Video series exposes financial ties between Biden family, foreign oligarchs: Report U.S. Embassy Romania / CCL

Joe Biden’s son Hunter has more than a few connections with foreign oligarchs.

A new video by Clinton Cash author Peter Schweitzer alleges that new documents shed light on the conflict of interest scandal involving Joe Biden, his son Hunter, China, and Ukraine. The video is the first in a series by the Government Accountability Institute (GAI), of which Schweitzer is president.

“New documents shed light on just how much money [foreign] oligarchs were sending to the Biden family while he was vice president,” Schweizer states in the video. “We have a glimpse of this not because the Biden family has disclosed it, but because documents that came out in a court case offer access to financial records involving Hunter Biden.”

Scheme exposed

Hunter Biden’s dealings in China and Ukraine have come under renewed scrutiny as his father launches a presidential campaign bid. As vice president, Joe Biden played a prominent role in handling foreign policy in Ukraine and China, both nations that enriched his family, according to Schweitzer.

In 2013, Hunter went to Beijing on a trip with his father. Ten days later, a financial firm that Hunter founded, Rosemont Seneca Partners, received $1 billion in private equity from the Chinese government.

Schweitzer notes that Hunter had no experience in private equity, nor did he have any background in China. The same pattern played out in Ukraine, where Hunter joined the board of a natural gas firm, Burisma Holdings, in 2014. Burisma reportedly paid Rosemont more than $3 million from April of 2014 to late 2015.

Biden pay-for-play?

All of this took place while Hunter’s father was vice president and playing a key diplomatic role for Barack Obama with Ukraine during that nation’s crisis. The former vice president dealt with Ukrainian politicians with a heavy hand.

Indeed, Biden has been criticized for bragging about how he threatened Ukrainian President Petro Poroshenko into firing a prosecutor. The former VP threatened to withhold $1 billion in U.S. loans from the Eastern European nation if they didn’t comply.

“I said, ‘You’re not getting the billion.’ I’m going to be leaving here in, I think it was about six hours. I looked at them and said: ‘I’m leaving in six hours. If the prosecutor is not fired, you’re not getting the money,’” Biden recalled telling Poroshenko.

The prosecutor Biden wanted canned, Viktor Shokin, was investigating Burisma Holdings. Hunter joined the board of the company four months after the China deal was concluded.

Biden has also been criticized for going soft on China at the time. Even now, Biden has downplayed the China threat, earning him criticism.

Money trail

Schweitzer, whose book Clinton Cash paints a picture of the conflict of interest schemes involving the Clintons, said that new financial records give some idea of the money trail.

“By looking at just this one account, we know what was flowing into the account and what was flowing out while Joe Biden was vice president,” he said. “Flowing in over an 18-month period was $3.1 million from the Ukrainians. There was $142,000 that showed up from a Kazakh oligarch, and then there was a mysterious $1.2 million from a limited liability company that nobody seems to know where it exists [and] that funneled the money to a small Swiss bank that has been implicated in international money laundering.”

Schweitzer went on: “Flowing out of the account is hundreds of thousands of dollars into the personal banking accounts of Hunter Biden himself. $142,000 to a luxury auto dealership. Another $182,000 to a luxury watch company. This is all just from one account.”

With conflict of interest questions already mounting, it looks like Joe Biden will have some difficult questions to answer if he wins his party’s nomination.

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Matthew Boose

Matthew Boose is a staff writer for Conservative Institute. He has a Bachelor's degree from Stony Brook University and has contributed to The Daily Caller and The Stony Brook Press.