Sen. Tom Cotton (R-AR) called a bombshell report about Hunter Biden from Peter Schweizer’s new book, Red-Handed: How American Elites Get Rich Helping China Win, “alarming, but not surprising.”
Cotton tweeted out a Breitbart News article that cites Red-Handed and reports that a “Chinese global energy company,” with ties to Chinese intelligence, sent Hunter Biden almost $6 million in 2017.
The report, authored by Breitbart News’s Kristina Wong, reads in part:
The firm, now defunct, was led by Ye Jianming, a wealthy and connected Chinese businessman who was chairman and majority owner of the global energy company CEFC China Energy.
…
Furthermore, by July 2017, CEFC began making interest-free, forgivable loans to the Biden family. CEFC executive Zhao Running wrote that $5 million was intended as the money lent to the BD family,” not just Hunter Biden.
“This $5 million loan to the BD [Biden] family is interest-free,” Zhao wrote.
Schweizer notes that “interest-free loans provide tremendous leverage because the lender can demand its money back if it is displeased by any action.”
In August 2017, CEFC Infrastructure Investment LLC sent Hunter Biden’s law firm, Owasco, $100.000. Four days later, the firm wired $5 million to another entity controlled by Ye, which then started sending regular payment to Owasco. Biden then transferred $1.4 million of that money to a firm called Lion Hall Group, which was controlled by his uncle James Biden and his wife, Sara Biden.
According to Red-Handed, The Biden family received “$31 million from five deals in China, all with individuals with direct ties to the Chinese spy apparatus,” reports Breitbart News’s Politics Editor Emma-Jo Morris.
Citing Red-Handed, Morris writes:
Multiple financiers with direct ties to Chinese intelligence partnered with Hunter Biden during and after his father’s time as Vice President — including the former head of the Ministry of State Security and the head of foreign intelligence recruitment — and some of those relationships remain intact, according to Red-Handed: How American Elites Get Rich Helping China Win, by Breitbart News senior contributor Peter Schweizer.
Schweizer explains that Beijing saw a financial relationship with the Bidens as an opening for “elite capture,” which allowed Hunter Biden to secure meetings and score major deals with people in the highest levels of Chinese financial institutions and the Chinese Communist Party — and in return, they would be able to leverage the Bidens’ power for their interests.
Schweizer’s book also chronicles how donations from communist China to the University of Pennsylvania almost tripled after the university announced in February of 2017 it was launching the “Biden Center,” Breitbart News’s John Hayward reports.
“In the three years before the announcement, the university received around $15 million. In the three years after, the total was close to $40 million. The latter number is $60 million from China if you include contracts,” writes Schweizer in Red-Handed.
Hayward reports:
Some of those donors were anonymous, but declared donors included the state-owned China Merchants Bank, and a company called Cathay Fortune owned by “a secretive Chinese billionaire who appears to have strong links with the Communist Party” named Yu Yong.
Cathay Fortune is especially interesting because it has a controlling interest in China Molybdenum, a mineral producer with Chinese military contracts that teamed up with Hunter Biden’s investment fund to invest in an African copper mine.
For a time, Anthony Blinken – now Biden’s secretary of state – “served as the center’s managing director before heading off to work on the presidential campaign in 2019,” Schweizer writes.
Hayward notes that in March of 2021, Secretary of State Blinken “was famously ambushed and curb-stomped by Chinese diplomats during his first bilateral conference with them.”