Book details Biden corruption: “We’ve got investors lined up in a line of 747s filled with cash ready to invest in this company”

Share:

We’ve previously written about the corrupt Biden crime family, as outlined in Peter Schweizer’s book, Profiles in Corruption: Abuse of Power by America’s Progressive Elite.”  That book outlined how Hunter Biden, along with Biden’s siblings and his daughter got rich off his position first as U.S. Senator and then as vice president.

Now, a new book released Monday give further detail into the abject corruption surrounding the current occupant of the White House.

The book, “The Bidens: Inside the First Family’s Fifty-Year Rise to Power,” written by Ben Schreckinger lays out a series of schemes which sought to enrich Hunter Biden and Joe Biden’s brother Jim when Biden was the ranking member of the Senate Foreign Relations Committee, according to Breitbart News. 

 

One of Jim Biden’s former business partners told Schreckinger that, “Jim’s job is to ensure the lifestyle is good for the family.”

A noble goal, however in this case, that method of doing so was through acquiring a hedge fund, Paradigm Global Investors along with Hunter Biden. Paradigm was founded and run, according to Schreckinger by James Park, a cocaine addict (no wonder Hunter wanted to be involved).

“Jim and Hunter offered to buy out the firm for $21 million,” a move that was apparently inspired by Joe Biden’s plan to run for the Democrat “presidential nomination and his son’s work for a Washington lobbying firm would be a problem.”

At that time, Hunter Biden was employed at a lobbying firm that could present conflict of interest issues for Biden’s presidential campaign.

“Hunter would have his new job, CEO of Paradigm with a starting salary of $1.2 million,” Schreckinger wrote in the New York Post. “His experience in the financial sector amounted to a few years on the payroll of a credit-card issuer.”

Acting in the position of hedge fund manager allowed the Biden family to “tap the global demand for business partnerships with the relatives of a powerful American official,” none other than Joe Biden.

Jim Biden, clearly not the brightest bulb, has been transparent over his connections to Joe Biden, telling one of the partners, Anthony Lotito that raising money would not pose a problem.

“Don’t worry about investors,” Jim Biden is reported to have told Lotito. “We’ve got people all around the world who want to invest in Joe Biden.”

Clearly, we are talking about the position and not the inept, dementia-ridden old man.

“We’ve got investors lined up in a line of 747s filled with cash ready to invest in this company,” Jim was alleged to have said.

The book also notes that while Joe Biden was “preparing to announce his second White House bid,” the two Bidens (Jim and Hunter) were looking to hire someone who possessed more financial experience since nether of them had any particular financial acumen.

The man they found was named Chuck Provini, who said that “Jim and Hunter recruited him in part for political reasons. They wanted a non-Biden face atop the troubled firm.”

The intent in hiring Provini was to keep Joe Biden’s name “out of the headlines.”

“Joe Biden needs to distance himself from this,” Jim and Hunter told Provini. “Would you consider the job?”

Think about this. “Joe Biden needs to distance himself from this.”

Clearly, he recognized that people might question the arrangement or if nothing else recognized the deal was clearly on shaky grounds. It wasn’t that Jim or Hunter wanted Joe Biden distanced from it…HE wanted to create distance between himself and the arrangement.

Provini was initially hesitant to accept the job so in order to convince him, the two told Provini they would assist him by finding investments from union pension funds, a highly sought-after source of investments.

“I was told because of his [Joe Biden’s] relationships with the unions that they felt as though it would be favorably looked upon to invest in the fund,” Provini said. “They knew nothing about the hedge-fund business.”

Despite all of this, the hedge fund wasn’t able to either acquire profitable companies or raise adequate capital in order to do so. Despite all of this, the report says, “Hunter and Jim did seek to enlist the family’s political allies as investors in Paradigm. Under their ownership, the firm became entangled in legal disputes and financial scandals before quietly winding down.”

Yet despite the hedge fund’s apparent incompetence and lack of success, the hedge fund was still able to acquire small investment checks from so-called “unsophisticated” investors.

In speaking to that aspect of the investments, Provini told the book’s author Schreckinger about that scenario and what that entailed:

He recalled one week where a succession of firefighters paraded into the office over the course of a few days and asked to speak with him. They would offer explanations like, “We’re friends of Joe, and we want to invest in the fund.”

The executive learned that there was a firefighters’ convention in town, and Jim had been working the room. “Jim told people they could invest in our hedge fund and that would help Joe,” the executive recalled.

Because of legal restrictions on who can invest in hedge funds, and because Paradigm, like most similar firms, insisted that clients fork over minimum investments in the tens or hundreds of thousands of dollars, there was nothing he could do with the checks.

It appeared that Joe Biden had directly sent firefighters to invest in the firm, thereby encouraging investments in the fund. Despite all of that, the hedge fund was unsuccessful.

In the end, “Paradigm’s executives searched in vain to find an overseas bank or other foreign buyer to take the business off their hands, including in the banking haven of Switzerland.”

When all was said and done, nobody was interested in buying the fund from the Biden crime family, which ended any chance for the hedge fund’s desire for success.

Did you know that Law Enforcement Today has a private new home for those who support emergency responders and veterans?  It’s called LET Unity, and it’s where we share the untold stories of those patriotic Americans.  Every penny gets reinvested into giving these heroes a voice.  Check it out today.

LET Unity

In case you missed it, below is our original reporting on “The Biden Five.” 

DIG DEEPER

The following article contains editorial content written by a retired Chief of Police and current staff writer for Law Enforcement Today. 

Peter Schweizer, president of the Government Accountability Institute is a source we have used before. He is an expert on government corruption, and his book Profiles in Corruption: Abuse of Power by America’s Progressive Elite, hit #1 on Amazon 10 days before it was even released.

He spends all of his time investigating government corruption. And he’s got a lot on the would-be president, Joseph R. Biden.

Schweizer did a deep dive on the Biden family, what he refers to as “The Biden Five”- Hunter Biden, his brothers Frank and James Biden, his sister Valerie and his daughter Ashley Biden. In the book, Schweitzer explained how those five were able to monetize their connections to him…and his influence.

In a recent interview on Sirius XM’s Breitbart News Daily, Schweizer talked about the Biden Five with host Alex Marlow. The book does a deep dive not only into the Biden family, however, also looks at the entire “institutional” Democratic Party and their corruption.

Marlow complimented Schweizer’s look at the Biden’s as providing “indisputable evidence that Joe Biden is running a crime like syndicate where he is, if nothing else, enabling his family members to get rich, without really any noticeable skill, using the American people’s good name.”

Clearly, the international reach of the Biden family’s tentacles seems to be a clear indication that, as Schweizer said:

“Joe Biden is the planet around which the moons of his family travel, and the gravitational pull is Joe Biden’s power and his position, and the family has enriched themselves based on the positions he has.”

He continued:

“Before Joe Biden is vice president of the United States, they’re rally not doing many international deals, but once Joe Biden becomes vice president of the United States, suddenly, they’ve got foreign governments and foreign entities falling over themselves to cut them in on deals that they have no background or no expertise in. There’s a direct link between the corrupt acts of the family and the policy positions and power that Joe Biden has.”

Schweizer then addressed the five Bidens individually.

Hunter Biden- In December 2013, Hunter went with his father, the then-vice president aboard Air Force Two on a trip to China. Just ten days later, he was able to secure over $1 billion in financing from the Chinese state-run Bank of China for a brand-new private equity firm he had co-founded. The disconnect from the Hunter Biden pre-Joe Biden vice president and after Joe Biden vice president is striking Schweizer noted.

“Before Joe Biden becomes vice president of the United States, Hunter is a lobbyist for online gambling companies in Europe. That’s what he’s doing. That’s his professional background. Once his dad becomes vice president of the United States, he suddenly starts doing a whole host of global deals beginning in China. He flies with his dad on Air Force Two to Beijing China in December 2013.”

Schweizer said that within only 10 days of that trip, Hunter Biden joined the board of directors and got an equity stake in a Chinese government-financed investment firm, BHR Partners, Bohai Harvest RST. Schweizer added:

“He has no background in private equity. He has no background in China. They put him on the board precisely because his father is vice president and precisely because his father is taking pro-China positions on the global stage.”

Schweizer noted Hunter Biden’s total lack of any type of experience or expertise concerning private equity, or the country of China, yet China chose to fund BHR. Hmmm…wonder why?

Just two years later, the Obama administration approved the sale of a strategically sensitive American company, Henniges Automotive, in a joint purchase shared by a Chinese military contractor and BHR. This required special approval from the Committee of Foreign Investment in the U.S. (CFIUS) due to the company’s manufacturing of technology with military applications.

According to Schweizer, Hunter Biden’s business partners explicitly said that he brought no expertise or anything else for that matter to the table. He had no money, no expertise…all he had was the “pipeline to the administration…his father Joe Biden.

Schweizer said the Chinese Communist Party knew they could use Hunter Biden to get what they wanted from the Obama-Biden administration.

“There’s a very clear reason why the Chinese government wants the sone of the vice president sitting on their board involved in these deals, because they need the approval of the Obama-Biden administration, which is of course what they get when they start acquiring these companies.”

Biden has repeatedly denied knowing what his only son was up to, saying he “never discussed my business or their business, my sons’ or daughter’s,” he said in 2019.

“And I’ve never discussed them because they know where I have to do my job and that’s it and they have to make their own judgments.”

Biden has insinuated an “absolute wall” exists between himself and his family’s business interests.

Biden said, “I have never discussed, with my son or my brother or with anyone else, anything having to do with their businesses. Period.”

However, a photograph taken of Joe Biden with Kazakhstan oligarch Kenes Rakishev  who had looked into establishing a business relationship with Hunter Biden seems to blow Joe Biden’s claim of “no knowledge of” his family’s business dealings as a load of, to quote Biden, “malarkey.”

Let us also not forget the money wired to Hunter Biden by Yelena Baturina, a Russian oligarch who wired $3.5 million to Rosemont Seneca, a private investment firm co-owned by Hunter Biden. The consultancy fee was, according to Baturina’s brother a “payment to enter the American market.”

We won’t even get into Burisma. That one is so obvious as to be an embarrassment.

Schweizer said the mere overwhelming evidence that the Biden family possesses zero expertise in fields where they have realized millions of dollars, all from foreign governments. Clearly all of this points back to Joe Biden.

“What are the Bidens selling?” Schweizer asked. “What product or what service are they providing these Chinese companies [or] a Ukrainian energy company? They don’t know anything about the energy business. They don’t know anything about private finance [or] equity companies. They  don’t know anything about that, so the point is these foreign entities are paying the Bidens money—millions of dollars. The question is, what are they getting in return?”

Frank Biden- When Joe Biden served as vice president, another member of his family also benefited financially…his youngest brother Frank, who realized millions of dollars in taxpayer loans tied to real estate developments in the Caribbean during the Obama-Biden administration.

According to Schweizer, Frank Biden “basically was a real estate agent—not very successful—in Florida. Suddenly he’s going into the renewable energy business.”

Frank Biden had no experience in renewable energy whatsoever. Schweizer noted that Frank Biden set up companies in Costa Rica and another in Jamaica, then was able to score taxpayer-backed loans from the U.S. government to do renewable energy projects in both those countries.

Frank Biden also scored millions of dollars in grants from the Department of Education in order to construct charter schools and attributed his family name as a ‘tremendous asset” that brought “automatic acceptance” for government approvals of school projects, as well as the ability to secure public funding.

“These are our grants that are discretionary, which means the Department of Education can decide who they want to give them to,” Schweizer said.

“[Frank Biden] took in millions of dollars from the Education Department while his brother was vice president of the United States.”

Not only that, but Frank Biden was able to have a meeting involving his companies in the Oval Office with none other than President Barack Obama, and a couple of other people.

“If his name had been Frank Jones instead of Frank Biden, I doubt that any of that would have happened.”

James Biden- Yet another Biden, Joe Biden’s younger brother James also joined the Biden gravy train. The firm he worked for as executive vice president, HillStone International, received $1.5 billion in government contracts during the Obama administration, which included a contract to build 100,000 homes in Iraq.

Schweizer explained the numerous conflicts of interest related to James Biden’s position with HillStone, since his brother the vice president had oversight of humanitarian, government-funded development projects in Iraq while he was vice president, the same type of project for which HillStone received $1.5 billion.

It should be noted that James Biden had zero background in either construction of international development when he joined HillStone. However the company profile of James Biden bragged that James Biden’s connection to Joe Biden was a professional attribute.

“Within six months [of HillStone’s founding], they land these billion-dollar contracts to build homes in Iraq,” Schweizer said. “This is part of the Iraqi reconstruction after the war, and who is in charge of the Iraqi reconstruction at the time? Joe Biden, his brother. Now we have a third member of the family, who because of Joe Biden’s position, is cashing in. In this case, taxpayer money is flowing to a member of the Biden family.”

Valerie Biden- Not to be left out of the financial extravaganza tied into being related to Joe Biden, his sister Valerie, who had managed his senate campaigns in Delaware actually realized a financial windfall from his campaigns, directing $2.5 million to her political communications firm from two Joe Biden campaigns…Citizens for Biden and Biden for President, Inc.

Schweizer referred to this as “legal graft.”

He explained that, “When Joe Biden ran for the senate in Delaware—obviously a very safe seat for him, there hasn’t been a Republican in there for 40 years—what does Joe do? Joe hires his sister to run his campaigns [and] hires her firm as a consultant. As a result, millions of dollars flow to Valerie Biden.”

“It speaks to the pattern of the Bidens looking at opportunities to take money, whether it’s taxpayer money, political money, or business money, and steer it to their family members for their benefit,” Schweizer said.

Ashley Biden- Just after his daughter Ashley’s husband Howard Krein started a healthcare company in 2011, StartUp Health, Joe Biden arranged a meeting with Barack Obama in the Oval Office only weeks after the company’s founding.

Schweizer referred to that meeting as a “huge hookup,” explaining that StartUp was able to gain an invitation to Health Data-Palooza, which was a joint conference run with the federal government and healthcare industry.

“Health Data-Palooza is very prestigious and very hard to get into,” Schweizer explained. “They get hooked up and they are put front and center in this very important conference, and that’s the beginning of the favors that happen.”

He noted that Joe Biden gave private speeches and briefings to the partners and investors of Howard Krein’s business.

Of course, having inside knowledge of the Obama administration’s planned healthcare initiatives gave Biden’s son in law a competitive advantage over competing healthcare companies, Schweizer said.

Currently, Krein is advising the Biden team on COVID-19 matters, and the company plans on investing $1 million in companies developing goods and services relative to the coronavirus.

According to Politico, in a rare moment of journalistic integrity, “Krein simultaneously advising the campaign and venturing into Covid investing could pose conflict-of-interest concerns for a Biden administration or simply create the awkward appearance of Krein profiting off his father-in-law’s policies.”

Schweizer did credit the Biden family for one thing:

“The Bidens, to me, are unprecedented in the extent and scope of the corruption, because I’ve been doing this for a long time,” Schweizer explained. “I’ve exposed Republicans and Democrats. The most that I’ve ever seen up to this point was a Republican senator from Missouri that had three family members engaged in this kind of behavior. The Bidens now have five, making the Biden Five in my mind, the reigning champs when it comes to corrupt behavior in Washington, DC.”

And that doesn’t even include “the Big Guy.”

Want to make sure you never miss a story from Law Enforcement Today?  With so much “stuff” happening in the world on social media, it’s easy for things to get lost.  

Make sure you click “following” and then click “see first” so you don’t miss a thing!  (See image below.)  Thanks for being a part of the LET family!
 
Facebook Follow First
Share:
Related Posts