How the Bidens used shell companies to enrich themselves

Members of the Biden family and their business associates raked in millions of dollars from foreign entities during and after Joe Biden’s time as vice president, using nearly two dozen companies and taking advantage of a vast network of sketchy business associates.

The now-first family, their associates, and the companies took in at least $10 million just from firms run by Chinese and Romanian nationals through various deals struck by first son Hunter Biden, according to records subpoenaed from four separate banks by the Republican-led House Oversight Committee.

However, other information suggests the Bidens earned tens of millions of dollars more than that.

In a 36-page memo released Wednesday, the committee revealed funds initially flowed from the foreign entities to at least 20 companies, most of which were LLCs created while Joe Biden was President Barack Obama’s vice president and run by Hunter’s business friends. The money was then doled out in smaller amounts to other family members.

“These complicated financial transactions appear to conceal the source of the funds and reduce the conspicuousness of the total amounts made into the Biden bank accounts,” the committee said in the memo.

Oversight Chairman James Comer (R-Ky.) identified nine Biden family members known to have benefited: Hunter; first brother James Biden; his wife, Sara; first daughter-in-law Hallie Biden, the widow of Joe Biden’s son Beau; Hunter’s ex-wife, Kathleen Buhle; his current wife, Melissa Cohen; and “three children of the president’s son and the president’s brother.”

Fifteen of the companies the committee is looking into were founded when Joe Biden was a heartbeat from the presidency between 2009 and 2017 — including Robinson Walker, LLC; Owasco, LLC; Hudson West III, LLC; and Rosemont Seneca Bohai, LLC, which was linked to Hunter’s now-defunct investment management firm Rosemont Seneca Partners.

The Beijing-backed CEFC China Energy is also in the committee’s crosshairs for its connections to State Energy HK Limited, a firm that paid $3 million in 2017 to Robinson Walker, the LLC of Biden associate and former Clinton administration official Rob Walker.

On March 16, the committee produced its first memo on the Biden bank records showing how Walker divvied up the six-figure sums, taking $869,308 for himself, $610,692 for Hunter and $360,000 for James.

Hallie took $25,000 and an unknown Biden family member also netted $70,000.

The Washington Post independently reported last year that Hunter and James Biden earned $4.8 million in total through their entities connected to CEFC China Energy.

James Gilliar, a former British special forces officer and Biden associate with ties to UK intelligence, got $1,065,000 for his European Energy and Infrastructure Group from the China deal.

According to The Post’s exclusive report from October 2020, a 10% share of the proceeds was also handed over to the “big guy,” whom Gilliar and another Hunter business associate, Tony Bobulinski, separately identified as President Biden.

Separate payments from State Energy HK between August 2015 and June 2016 were made to the Serbian think tank Center for International Relations and Sustainable Development, which is run by former United Nations General Assembly President Vuk Jeremic.

The House Oversight Committee in its memo outlines $3 million in State Energy HK payments to the think tank while Jeremic was lobbying then-Vice President Biden to support his election in the UN.

Jeremic also attempted to introduce Hunter in December 2015 to Ye Jianming, who founded CEFC and later discussed sharing office space with the former vice president and his son.

The oldest-ever president has repeatedly denied knowledge of his son’s overseas business ventures. During a 2020 presidential debate, Biden also stressed that Hunter made no money on deals linked to China.

“My son has not made money in terms of this thing about — what are you talking about — China,” he said at the second and final debate with Donald Trump on Oct. 22, 2020. “The only guy who made money from China is this guy [Trump]. He’s the only one. Nobody else has made money from China.”

In the same debate, Biden also denied there was anything improper or unethical about Hunter’s seat on the board of the Ukrainian natural gas company Burisma — or his involvement in firing a prosecutor who was investigating the energy firm less than a year after the then-vice president met with one of Burisma’s executives in April 2015.

The Post has also reported Hunter made up to $1 million annually on the Burisma board, but had his salary cut in half three months after his dad left office.

Months after the Burisma meeting, Biden family members started receiving the first installments of what would amount to more than $1 million from another Eastern European business arrangement in Romania.

Hunter, Hallie and an unnamed Biden earned $1,038,627.08 between November 2015 and May 2017 through Rob Walker’s LLC, which got $3 million total from Bladon Enterprises Limited, a company owned by corrupt Romanian businessman Gabriel Popoviciu.

As an attorney at Boies Schiller Flexner LLP, Hunter worked for Popoviciu starting in 2015 and even enlisted the help of former FBI Director Louis Freeh to help the Romanian tycoon fight bribery charges. His efforts were in vain, as Popoviciu was convicted in 2016.

Vice President Biden had visited Romania in May 2014 to deliver a speech on the dangers of corruption.

“Corruption is a cancer, a cancer that eats away at a citizen’s faith in democracy, diminishes the instinct for innovation and creativity; already-tight national budgets, crowding out important national investments,” he said at the time.

“It wastes the talent of entire generations. It scares away investments and jobs. And most importantly it denies the people their dignity. It saps the collective strength and resolve of a nation. Corruption is just another form of tyranny.”

The Oversight Committee is also investigating payments from Ukraine, Kazakhstan, Mexico and Oman, as well as Hunter’s financial stake in the China-backed private equity firm BHR Partners.

A suspicious activity report recovered from the first son’s abandoned laptop cited $2.4 million in transfers from BHR to Hunter and his Rosemont Seneca partners Eric Schwerin and Devon Archer.

Hunter’s real estate company additionally received more than $100 million from Russian billionaire Elena Baturina for property investments in the US that date back a decade, The Post also has reported.