Although some in the mainstream media have attempted to downplay or dismiss allegations of suspicious international business deals involving Hunter Biden during his father’s presidential campaign, recent developments have made the story impossible to ignore.
The latest revelation involves an email exchange between Biden and a former business partner that reportedly features the pair discussing plans to repay a loan to a Chinese-owned bank, as well as how Biden could expect to receive “significant” returns from an investment into a Chinese-owned company.
The China controversy deepens
As Breitbart reported, that discussion dates back about two years and included advice that Biden obtain an extension on a $150,000 loan since his expected payout in 2019 would more than repay the original loan.
Biden’s discussion with former business partner Eric Schwerin was first made public on Wednesday by the Daily Caller News Foundation.
The contents of those emails appear to contradict prior statements from Biden’s attorney, George Mesires, that he had not received any sort of financial distributions from his China-linked investment last year.
According to business records and emails cited in the report, Biden took out the six-figure loan from the Chinese bank in 2017 to help fund a $420,000 investment into a jointly owned firm known as BHR.
That loan had been due in December 2018, but Schwerin suggested that Biden seek a one-year extension.
“Since BHR will be making distributions in 2019 far exceeding $150,000 it is a no brainer to extend the loan,” Schwerin wrote to both Biden and Mesires, according to reports. “Of course, if we can execute the agreement as proposed 100% of those BHR distributions would go to you.”
In a follow-up email a week later, Schwerin pushed for swift action and reminded Biden that his stake in BHR would “generate far more income” for him “over the next couple of years,” especially in comparison to a “broker-dealer” holding the two were separately exchanging.
As the Daily Caller explained, those 2018 messages appear to be in line with an email Schwerin also sent Biden the previous month to inform him that he could expect “significant distribution in 2019” from BHR due to its divestment from CATL, a Chinese battery manufacturer, for roughly twice its original investment.
These latest allegations are part of a larger narrative involving the federal investigation Biden recently acknowledged, and signal a deeper probe than just the “tax affairs” he cited in a public statement.
For that reason, President Donald Trump appears to be considering whether to call for a special prosecutor to explore all the allegations, even as Biden’s father is preparing his prospective administration in anticipation of taking office on Inauguration Day.