The private equity firm of former Vice President Joe Biden’s son Hunter Biden inked a billion-dollar deal with a subsidiary of the Chinese government’s Bank of China just 10 days after the father and son flew to China in 2013.
The Biden bombshell is one of many revealed in a new investigative book Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends by Government Accountability Institute President and Breitbart News Senior Editor-at-Large Peter Schweizer. Schweizer’s last book, Clinton Cash, sparked an FBI investigation into the Clinton Foundation.
According to an exclusive New York Post excerpt from the book, the Biden billion-dollar China deal occurred as follows. Hunter Biden was the principal of Rosemont Seneca Bohai.
In December of 2013, Vice President Biden and his son Hunter flew aboard Air Force Two to China. Ten days after the trip, a subsidiary of the Bank of China named Bohai Capital signed an exclusive deal with Hunter Biden’s firm to form a $1 billion joint-investment fund called Bohai Harvest RST. The deal was later increased to $1.5 billion.
Joe Biden has yet to comment on how the firm of a sitting vice president’s son was permitted to bag a billion-dollar deal with the Communist Chinese government—nor whether they had any knowledge or involvement in the deal.
Secret Empires is slated to hit bookstores nationwide on Tuesday, March 20.
Editor’s Note: This article has been updated to reflect that only Hunter Biden was a managing partner of Rosemont Seneca Partners. In addition, Heinz was not involved with Rosemont Seneca Bohai, which managed the Chinese funds.