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For those wondering why Joe Biden is soft on China, consider this never-before-reported revelation: The Biden family has made five deals in China totaling some $31 million arranged by people with direct ties to Chinese intelligence, some reaching to the top of . spy agency
In fact, all the known deals the Biden family enjoyed with Beijing were struck courtesy of people with espionage ties. And Joe Biden personally benefited from his family’s foreign dealings.
What are these offers? And who are the people who made them happen for the Bidens?
Here, then, are some key facts about the Biden family’s $5 million-plus dealings with people in bed with Chinese intelligence.
Steven Kaplan, who conducts research on issues in private equity, venture capital, entrepreneurial finance, corporate governance and corporate finance at the University of Chicago Booth School of Business, said a private equity fund with $2 billion under management will typically generate fees over its life of hundred of millions of dollars.
“It is difficult to imagine, if not incomprehensible, that a 10% stake in those economics is worth only $420K,” Kaplan said via email. “The distinction they appear to be making is they capitalized the management company with $4.2M even if the fund manages $2B. The value of that management company is likely far in excess of $4.2M if they are managing $2B.”
Kaplan pointed to two large publicly traded private equity firms for reference, both of which have a market value of about 10% of the assets under their management. Using that as a rough guide, that would put the value of Hunter Biden’s share closer to $20 million, he said.
Two months ago, Hunter Biden’s lawyer said he sold his equity stake. They have not disclosed how much he made.
But courtesy of the Hunter Biden emails on his abandoned laptop, we now know two of the key individuals who made that deal happen. And at the time, they had close ties to the very top of the Chinese intelligence apparatus.
A Chinese tycoon named Che Feng, also known as “The Super President,” played a key role in getting the deal off the ground by introducing Hunter and his partners to large Chinese state-backed investment funds. Hunter saw a big payday. As he wrote in an email to his business partner Devon Archer: “I don’t believe in lottery tickets anymore, but I do believe in the super president… I think the sky is the limit.:
Who exactly is Che Feng?
At one point, he was a business partner of the then deputy minister of state security in China, which is China’s KGB.
This man was reportedly the director of the ministry’s No. 8 Bureau, which targeted foreigners with its intelligence apparatus — including reporters, diplomats and businessmen. It was also reported that he oversaw intelligence operations for North America.
Another key figure in putting this investment deal together was Zhao Xuejun (a k a Henry Zhao) of Harvest Fund Management. Zhao is a Communist Party official. (“The mission of our Party is to bring happiness to people, and to revive the nation for people,” he has said.)
But more troubling — Zhao was at that time business partners with Jia Liqing, the daughter of the former minister of state security, Jia Chunwang.
In short, he was in charge of espionage, domestic and overseas intelligence work for China. Jia was famous during his tenure for developing China’s “deep water fish” (Chendi yü) strategy of developing thousands of special agents on foreign soil.
Zhao was also a key figure for Biden prospects in China. His fund participated in BHR, where Hunter Biden received a board seat. The business that he co-founded with Jia Liqing, Harvest Global Investments.
OFFERING #2: BURNHAM ASSET MANAGEMENT
Payment: $5 million
Hunter Biden had another company called Burnham Asset Management. According to court documents filed by disgruntled investors, Harvest Global transferred $5 million to Burnham.
The purpose of this payment is unclear, but it may have been an investment in Hunter’s business.
Based on emails obtained from Hunter Biden’s laptop, Zhao may have sent other money as well.
“Henry remains committed to making something work with me and Hunter out of this Burnham matter as mentioned above,” business partner James Bulger wrote. “He has some interesting ideas.”
Zhao had suggested to Hunter and his business associates that he would structure a deal that they felt would “put money right into our pockets.”
DEAL #3: HUNTER TEAMS UP WITH CHINA’S ‘DRAGON HEAD’
Hunter Biden had co-founded a company called Rosemont Realty and as early as 2011 was looking for a Chinese buyer.
Rosemont Realty owns commercial buildings in the United States.
He had little luck at first, but then he and his partners received an “unsolicited offer” from a Hong Kong-based company called Gemini Investments to buy the company from him.
What is Gemini? The company is controlled by something then called Sino-Ocean Land, which was also chaired by the head of the China Ocean Shipping Corporation (COSCO).