Hunter Biden announced that he is stepping down from the board of the Chinese controlled investment fund. He also says that if his father becomes president, he will no longer work with any foreign entities. The statement was released through Hunter Biden's lawyer.
One thing that Hunter did not say is that he would sell the 10% of the Chinese controlled company that he owns. That's important. The issue, remember, is whether or not the Chinese shoveled money to the Bidens so as to influence Old Joe Biden starting when he was vice president. The ownership of the Chinese company is by far larger and more important than Biden's position as a director.
This whole China thing came about because Hunter formed an investment group with John Kerry's step son and Whitey Bulger's nephew. Then Hunter flew to Beijing on Air Force Two with his father when Old Joe was vice president. Amazingly, while Hunter was in Beijing with his father, the Chinese just happened to invest 1.5 billion dollars with the new company. That's about 1.5 billion dollars more than the Chinese government invested with any other start up fund. It's about 1.5 billion more than the Chinese government invested with people who had no meaningful experience in investment management. Who knows; maybe the Chinese government official responsible tripped and just happen to drop a certified check for $1.5 billion in Hunter's lap by accident.
The point is that this investment is extremely suspect. There seems to be no basis for the Chinese to have made this huge investment aside from wanting to buy influence with Old Joe Biden.
By the way, it's worth noting that the Bloomberg News article reporting on Hunter's PR resignation actually says this:
"Trump and his personal lawyer Rudy Giuliani have repeatedly claimed, without providing evidence, that Hunter Biden made millions of dollars from China while his father was vice president."
That's crazy. Evidence? The $1.5 billion in the fund was placed there by China. A customary fee for that investment would be roughly 1% per year. That's 15 million dollars per year. Over five years, that's $75 million. Hunter owns 10% of the company (which he hasn't promised to sell). That would give him $7.5 million on the investment. And this is wholly aside from Hunter's share in any profits earned on the investments made by the fund. That could be a much higher amount. And there's also Hunter's salary and director's fees. How's that for evidence?
One thing that Hunter did not say is that he would sell the 10% of the Chinese controlled company that he owns. That's important. The issue, remember, is whether or not the Chinese shoveled money to the Bidens so as to influence Old Joe Biden starting when he was vice president. The ownership of the Chinese company is by far larger and more important than Biden's position as a director.
This whole China thing came about because Hunter formed an investment group with John Kerry's step son and Whitey Bulger's nephew. Then Hunter flew to Beijing on Air Force Two with his father when Old Joe was vice president. Amazingly, while Hunter was in Beijing with his father, the Chinese just happened to invest 1.5 billion dollars with the new company. That's about 1.5 billion dollars more than the Chinese government invested with any other start up fund. It's about 1.5 billion more than the Chinese government invested with people who had no meaningful experience in investment management. Who knows; maybe the Chinese government official responsible tripped and just happen to drop a certified check for $1.5 billion in Hunter's lap by accident.
The point is that this investment is extremely suspect. There seems to be no basis for the Chinese to have made this huge investment aside from wanting to buy influence with Old Joe Biden.
By the way, it's worth noting that the Bloomberg News article reporting on Hunter's PR resignation actually says this:
"Trump and his personal lawyer Rudy Giuliani have repeatedly claimed, without providing evidence, that Hunter Biden made millions of dollars from China while his father was vice president."
That's crazy. Evidence? The $1.5 billion in the fund was placed there by China. A customary fee for that investment would be roughly 1% per year. That's 15 million dollars per year. Over five years, that's $75 million. Hunter owns 10% of the company (which he hasn't promised to sell). That would give him $7.5 million on the investment. And this is wholly aside from Hunter's share in any profits earned on the investments made by the fund. That could be a much higher amount. And there's also Hunter's salary and director's fees. How's that for evidence?
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