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The Biden family received millions of dollars from a Chinese company as a "forgivable, interest-free" loan

According to a former associate of Hunter Biden, the president, identified as the 'Big Guy,' was secretly involved in the deal and received a 10% cut of the money.

Familia Biden, Joe Biden, Hunter Biden, James Biden

(Cordon Press/ Voz Media)

Published by
Verónica Silveri Pazos

President Joe Biden and his family collected an interest-free loan "intended to be forgivable" from a Chinese energy company, according to information released through a letter to the FBI by Republican Senator Charles Grassley. The letter contains evidence showing that CEFC Beijing International Energy Company Limited gave $5 million to a company that had a connection to Hunter Biden in August 2017.

Grassley to Doj FBI/ Biden by Voz Media on Scribd

Biden - China Connection

A July 2017 email sent by a CEFC executive to Tony Bobulinski, a former business partner of Hunter Biden, noted that the Chinese company's leadership "fully support the framework of establishing the JV [joint venture]" with SinoHawk, a company associated with Hunter and James Biden, "based on their trust on (sic.) BD [Biden] family."

The email explains the reason for the "delay" in sending the money to SinoHawk. According to the letter:

The delay of wire is caused by the details on the JV building, as follows: 1) the positioning and strategy of the JV are not made fully clear to CEFC 2) 5 million is lent to BD family in the 10 million charter capital. How will this 5 million be used (or the 10 million as a whole)? This 5 million loan to BD family is interest-free... But if the 5M is used up, should CEFC keep lending more to the family?... If CEFC lends more, they need to know the interest rate for the subsequent loan(s).

Biden/China by Voz Media on Scribd

Direct money to the Biden family

At the time of the loan, Joe Biden had already left office as vice president and was planning his 2020 presidential bid. Bobulinski has said in several interviews that Biden was secretly involved with the transaction, identified in internal documents as the "the Big Guy" who would receive a 10% cut of the money.

Bobulinski told the FBI that the money was actually deferred compensation for work Hunter and James Biden had performed while Joe Biden was still vice president. According to Grassley:

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.

The senator said that the scheme "to compensate the Bidens was supposed to consist of an unsecured $5 million loan, intended to be forgivable, from CEFC in 2017." He further noted that he has evidence that, a few months before the money was paid, "Hunter Biden yelled at CEFC officials at a meeting for failing to fund the joint venture" and that "James Biden considered calling CEFC officials and threatening to withdraw Biden family support from future deals."

The letter said that when the money was finally paid, it did not go to the Bobulinski and Hunter Biden's SinoHawk firm as initially planned. Rather, it was sent to a company connected to the Biden family called Hudson West III before being transferred to entities linked to the brothers.

Hudson WestLegal/ Biden by Voz Media on Scribd

Reporting to the FBI

Grassley said information his team gathered information from whistleblowers and other sources suggesting that the FBI already "possesses significant, impactful, voluminous evidence of potential criminality in Biden family business arrangements."

Based on allegations provided to my office, the information provided by Mr. Bobulinski formed a sufficient basis to open a full field investigation on pay-to-play grounds; however, it is unclear whether the FBI did so and whether the information is part of the ongoing criminal investigation [of Hunter Biden in Deleware being conducted by federal prosecutor David Weiss]. 
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