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The Biden family, specifically Hunter Biden and James Biden, son and brother to Joe Biden, got a $5 million interest-free forgivable loan from Chinese interests for services to that corporation while Joe Biden was vice president.
But it wasn't actually paid until after Joe Biden left public office and again was a private person – planning his 2020 run for the Oval Office.
The details emerge from a letter Sen. Chuck Grassley, R-Iowa, has sent to the Department of Justice, and a report from Just the News.
Grassley has written repeatedly asking about the federal government's investigation of the evidence that he has confirmed the FBI already holds.
Hunter Biden has established a record that appears to show him repeatedly engaging in pay-for-play deals using his father's position as vice president, and now president, as the commodity. James Biden, Joe Biden's brother, also apparently has participated.
Grassley explains the evidence that has come to his attention:
The evidence within the FBI’s possession that I am referencing is included, in part, in a summary of Tony Bobulinski’s October 23, 2020, interview with FBI agents. In that interview, Mr. Bobulinski stated that the arrangement Hunter Biden and James Biden created with foreign nationals connected to the communist Chinese government included assisting them with potential business deals and investments while Joe Biden was Vice President; however, that work remained intentionally uncompensated while Joe Biden was Vice President. After Joe Biden left the Vice Presidency, the summary makes clear that Hunter Biden and James Biden worked with CEFC and affiliated individuals to compensate them for that past work and the benefits they procured for CEFC. According to the summary, Hunter Biden, James Biden and their business associates created a joint venture that would serve as a vehicle to accomplish that financial compensation, and that arrangement was made sometime after a meeting in Miami between Hunter Biden and CEFC officials in February 2017. According to the summary, that vehicle was called SinoHawk, which was owned 50 percent by Oneida Holdings LLC (Oneida) and 50 percent by Hudson West IV. According to the summary, Oneida was made of five evenly divided LLCs, one for each business associate – including Hunter Biden and James Biden. However, according to the summary, 10 percent of Hunter Biden’s interest was to be held for Joe Biden. Attached to this letter is the Oneida Operating Agreement which lists Hunter Biden, James Biden and their business associates and the percentage of interest for each individual.
The letter was obtained by Just the News and posted online.
The report explained, "At the time of the transaction, Joe Biden had already left the White House as vice president, was a private citizen and was planning for his eventual 2020 presidential run. Bobulinski has said in media interviews that Joe Biden was a silent partner in the Chinese transaction, identified in internal documents as 'the big guy' who might get 10% of the deal."
It continued, "According to Grassley, the $5 million Chinese transaction was paid to a Hunter Biden-connected firm in August 2017, one month after the email obtained by Just the News. Bobulinski told the FBI that the money was actually deferred compensation for work Hunter and James Biden had done while Joe Biden was still vice president, Grassley wrote."
Grassley's letter explains that records confirmed "that Hunter Biden and James Biden profited from a $5 million wire from a company connected to CEFC in August of 2017." That money went to Hudson West III, and from there to Hunter Biden's firm, Owasco, and James Biden's firm, Lion Hall Group."
"Based on allegations provided to my office, the information provided by Mr. Bobulinksi formed a sufficient basis to open a full field investigation on pay-to-play grounds," the senator said.
However, it was unclear what, if anything, was done.
Just the News reported the details of the scheme were confirmed "in documents obtained by Just the News and also new information" released by Grassley.
It involved, the report said, that "the Chinese energy firm CEFC Beijing International Energy Company Limited understood the transaction would benefit Joe Biden's family."
There also was an inquiry from the company that wondered, "But if the 5 M is used up, should CEFC keep lending more to the family?"
Just the News also confirmed, "Bobulinski told the FBI that the money was actually deferred compensation for work Hunter and James Biden had done while Joe Biden was still vice president, Grassley wrote."
Lawyers for Hunter Biden and James Biden have denied their clients have done anything wrong, but have declined to answer specific questions from Just the News. Hunter Biden is, in fact, under investigation for tax activities, as well as other behaviors.
Grassley said the evidence now suggests the FBI has "significant, impactful, voluminous evidence of potential criminality in Biden family business arrangements."
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