Hunter Biden's admission of receipt of funds from Chinese company contradicts President Biden's repeated denials

July 28, 2023
Ben Marquis

During a court hearing on Wednesday, it was acknowledged by a federal prosecutor and confirmed by Hunter Biden that he earned at least several hundred thousand dollars in income in 2017 from a Chinese Communist Party-linked energy infrastructure company known as CEFC.

That admission directly contradicts multiple prior claims from President Joe Biden that his son never received any money at all from any Chinese entities, according to Breitbart.

The stunning revelation was largely overlooked by the bigger news out of that hearing which was the scuttling of a decidedly lax plea deal for the president's son due to the inquisitive judge exposing a secretive provision within the arrangement that would seemingly have extended broad immunity to Hunter Biden in perpetuity on a range of potentially prosecutable federal crimes committed in a certain time period.

Money from Chinese company acknowledged and confirmed

According to a transcript of the hearing, about a quarter of the way into the proceedings U.S. District Judge Maryellen Noreika asked Special Assistant U.S. Attorney for Delaware Leo Wise to read through the entire plea agreement on a pair of tax violation misdemeanors as well as an attached statement of relevant facts that was referred to as Exhibit 1.

"From 2017 to 2019, he served on the board of a Ukrainian energy company and a Chinese private equity fund. He further negotiated and executed contracts for business and legal services that paid millions of dollars of compensation to him and/or his domestic corporations, Owasco, PC and Owasco, LLC," Wise said of Biden. "Through at least early 2017, he also was employed by a prestigious multi-national law firm in an 'of counsel' capacity. For this work, he earned substantial income, totaling more than $2.3 million in 2017 and $2.1 million in 2018."

"During calendar year 2017, Biden earned substantial income, including: just under $1 million from a company he formed with the CEO of a Chinese business conglomerate; $666,666 from his domestic business interests; approximately $664,000 from a Chinese infrastructure investment company; $500,000 in director's fees from a Ukrainian energy company; $70,000 relating to a Romanian business; and $48,000 from the multi-national law firm," the prosecutor continued a moment later.

Another moment later, Wise further revealed that Biden in 2018 had received $1 million in legal fees from Patrick Ho, a former Chinese business associate, and stated, "He received a little over $2.6 million in business and consulting fees from the company he formed with the CEO of a Chinese business conglomerate and the Ukrainian energy company."

Later during the hearing, about halfway through the proceeding, Judge Noreika went over the statement of facts in Exhibit 1 with Biden himself for the sake of clarity, and asked about the 2017 "income including just under a million dollars from a company you formed with a CEO of a Chinese business conglomerate. Is that the same or a different Chinese company from the one you referenced earlier?"

Biden explained that he had formed a company called Hudson West with a Chinese businessman named Yi Jianming, who was the chairman of CEFC, which he further confirmed was the "Chinese infrastructure investment company" from which he had received $664,000 in 2017.

Biden's false denials

Breitbart noted that the admission from Hunter Biden that he received at least $664,000 from CEFC in 2017 directly contradicts at least two statements made by President Biden about how his son never received any money from China -- one as recent as March when the president flatly said, "That’s not true," when asked about uncovered bank records that showed wire transfers to multiple Biden family accounts of funds that originated in China.

More to the point, during a 2020 presidential debate against then-President Donald Trump, in addressing allegations of Biden family influence-peddling in foreign nations, then-candidate Biden stated emphatically, "My son has not made money in terms of this thing about, what are you talking about, China? I have not had -- the only guy who made money from China is [Trump]. He’s the only one. Nobody else has made money from China."

However, despite Biden's denials, the Republican-led House Oversight Committee has revealed that bank records show that multiple Biden family members in 2017 received a combined total of over $1 million from CEFC through an associate, uncovered separate transactions with Chinese entities around that time totaling more than $5 million, and asserted, "The total amount from China, specifically with CEFC and their related entities, to Biden associates is over $8 million."

Chairman Comer remarks on plea deal hearing, Biden family influence-peddling

In a Wednesday statement, Committee Chair James Comer (R-KY) said, "Today District Judge Noreika did the right thing by refusing to rubberstamp Hunter Biden’s sweetheart plea deal. But let’s be clear: Hunter’s sweetheart plea deal belongs in the trash. Last week we heard from two credible IRS whistleblowers about the Department of Justice’s politicization and misconduct in the Biden criminal investigation. Today, the Department of Justice revealed Hunter Biden is under investigation for being a foreign agent."

"The evidence uncovered by the Oversight Committee’s investigation into the Bidens’ influence-peddling schemes mirrors the evidence put forth by the IRS whistleblowers," he added. "We will continue to follow the Bidens’ money trail to determine whether foreign actors targeted the Bidens, President Biden is compromised, and our national security is threatened. We will also continue to work with the Ways and Means Committee and Judiciary Committee to investigate the Department of Justice’s coverup and hold bad actors accountable.

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