News

Hunter Biden in More Trouble for His Company Investing in Blacklisted Firm

Hunter Biden has been in the news lately because of what appears to be a sweetheart deal with a Ukrainian energy company which had him drawing a $50,000 a month paycheck even though he has no known expertise in the energy business. The arrangement has caused headaches with his father, former Vice President Joe Biden, who is accused of pulling strings to get Hunter his job and using his influence to shield him from an investigation by a Ukrainian prosecutor.

Now, Hunter Biden is in hot water again, according to Breitbart, because of his relationship with a Chinese private equity firm called Bohai Harvest RST (BHR). The company, bankrolled by the Beijing government, invested in another firm, Megvii Technology, which has been blacklisted by the United States government.

The problem is that Megvii’s facial recognition technology is being used to suppress Muslim Uighurs. China has been herding the Uighurs into reeducation camps, subjection them to savage treatment, including forced sterilization as a way to reduce their population, and even harvesting organs from those who are executed for crimes against the state.

Breitbart interviewed Peter Schweizer, who noted that Joe Biden’s fingerprints are all over his son’s dealings with BHR. He noted that in December 2013, the elder Biden went to Beijing to confront the Chinese government over its imperialist moves in the South China Sea. Instead of being tough, Joe Biden folded. Why did this happen? Schweizer explains:

“Well, I think the reason he goes soft on China is because with him on that trip, flying on Air Force Two, is his son Hunter Biden, and ten days after they return from China, Hunter Biden — who has this small firm, he has no background in private equity, he has no background in Chinese finance — gets a whopping $1.5 billion deal from the Chinese government. This is the Chinese government giving Joe Biden and a [John] Kerry confidante the management over this money, and they made huge fees off of this money, and it’s an example of this kind of corruption.”

Hunter Biden sits on the board of BHR and has a minority stake in the firm. The investment in Megvii is not the only problematic move by the private equity company. BHR has also acquired several American companies that have developed technology that could be of use to the Chinese government and military.

One of these investments was in an automotive company called Hennigas which has developed anti-vibration technology that has military as well as civilian applications. Despite this fact, the deal passed muster with Obama administration regulators. The technology was eventually used to develop Chinese fighter aircraft.

Hunter Biden’s relationship with BHR and its acquisition of an important American company is just the latest revelation that has created a headache for Joe Biden. It is casting a cloud over his prospects to gain the presidency in his third attempt. The elder Biden has thus far refused to answer questions and has reacted angerly to journalists who have been incautious enough to ask them.

The latest revelations about the shadowy dealings with the Chinese by the Bidens, father, and son take place against a backdrop of rising concern about the inordinate influence the Beijing government wield over American popular culture and private business. The Chinese use access to its lucrative 1.5-billion-person market to bend American companies to their will, The results range from a veto in film and TV content that Beijing finds displeasing to the virtual looting of technology from American firms, by hook or crook. The National Basketball Association is in trouble because the general manager of the House Rockets tweeted in support of the Hong Kong freedom fighters.

Thus far, Joe and Hunter Biden have gotten little more than embarrassment for their participation in this predatory relationship. That may be about to change. The Senate Finance Committee has launched an investigation into the matter.

In the meantime, the controversy has entered the political realm. While President Trump rarely passes on the opportunity to needle the Bidens, Joe Biden is in full stonewall mode. Hunter Biden, thus far, is nowhere to be found.

Comment here