EXCLUSIVE: Hunter’s $11MILLION Chinese connections: DailyMail.com analysis reveals president’s son and brother Jim Biden pocketed seven-figure salaries and hefty bonuses from lucrative joint venture linked to Communist Party and Beijing ‘spies’

  • A DailyMail.com analysis of bank records tracks the money flow from Chinese business partners and members of the Biden family between September 2017 and November 2018 
  • Chinese oil giant CEFC plowed almost $11M into a joint venture with Hunter Biden – which was squirreled away largely by the president’s son and his family in just a year
  • As CEFC poured millions into the venture, Hunter and his uncle Jim Biden paid themselves $100,000 and $65,000 monthly salaries, respectively, records show
  • The millions of dollars were ostensibly for the Bidens’ efforts to land energy deals for CEFC around the world 
  • Hundreds of pages of bank records were released Tuesday by GOP Senators Chuck Grassley and Ron Johnson who have been investigating the First Son 
  • The lawmakers say the documents lay out ‘the Biden family’s connections to the Chinese regime and persons connected to its military and intelligence elements’ 
  • They claim the evidence amounts to ‘potential criminal financial activity with respect to Hunter and James Biden,’ – Joe’s brother who goes by ‘Jim’ 
  • The report said Hunter and Jim’s companies received over $4.9M from Hudson West – a company jointly owned by Hunter’s firm and a CEFC subsidiary

Chinese businessmen linked to the China’s Communist Party and intelligence services plowed almost $11million into a joint venture with Hunter Biden, a DailyMail.com analysis of newly released bank records shows.

The flood of cash from Chinese oil giant CEFC was squirreled away, largely by Hunter and his family, in just a year.

The bank records, numbering over 200 pages, were released on Tuesday by Senators Chuck Grassley and Ron Johnson, who have been investigating Hunter for almost four years.

The records were sent by the senators to a Delaware prosecutor investigating Hunter’s potentially criminal business dealings with foreign nations.

Grassley and Johnson accompanied the ream of records with an excoriating letter slamming the federal prosecutor, David Weiss, for ‘failure to respond to our legitimate congressional oversight requests’.

The lawmakers say the documents uncovered in their long investigation lay out ‘the Biden family’s connections to the Chinese regime and persons connected to its military and intelligence elements.’

DailyMail.com’s analysis of hundreds of bank statements included in the Hunter Biden investigation details how the president’s son, his Uncle Jim Biden, and his Chinese business partners extracted cash from an $11million payout to a bank account for Hudson West III, LLC – a company jointly owned by Hunter’s firm Owasco PC and a CEFC subsidiary. Records show Hunter and Jim’s companies received a total of $4,968,220.01 from Hudson West. Hunter, Jim, and his wife Sara also got access to Bank of Omaha credit cards funded by CEFC to the tune of $101,098.61. CEFC manager Gongwen Dong was paid a total $123,319.68 over the 14-month period in the bank statements, and another CEFC executive firm (ColdHarbour Capital) got $318,286.37. There were also eight payments totaling $29,795.84 to JiaQi Bao, a glamorous young staffer for the joint venture who was close to Hunter


The bank records and documents track the money flow from Hunter Biden’s Chinese business partners to members of the Biden family between September 2017 and November 2018 

They say the evidence amounts to ‘potential criminal financial activity with respect to Hunter and James Biden,’ – President Joe Biden’s brother who goes by ‘Jim’, who took part in the Chinese joint venture.

The senators are concerned Weiss is dragging his feet and not conducting a thorough investigation of the president’s son, or that the probe has been hamstrung by the Department of Justice.

Their data dump comes less than two weeks before the congressional midterm elections. 

If Republicans win back control of the House, they are poised to launch their investigation into the Bidens, backed by subpoena powers that control would afford them.

An analysis of the hundreds of pages of bank statements by DailyMail.com shows Hunter’s Chinese business partners transferred a total $10,736,413.50 to a Cathay Bank account for Hudson West III LLC, a company jointly owned by Hunter’s firm Owasco PC and a CEFC subsidiary, between September 2017 and November 2018.

As CEFC poured millions into the joint venture, Hunter and Jim extracted the cash, paying themselves $100,000 and $65,000 monthly salaries respectively.

The operating agreement for the Delaware-incorporated company released by the senators says Hunter would receive a $500,000 ‘one-time retainer fee’ too.

Hunter, his uncle and Jim’s wife Sara got access to credit cards funded by CEFC to the tune of $101,098.61, which they used for a spending spree of Apple products, hotels and restaurants.

And CEFC executive Patrick Ho paid Hunter $1million from the company’s funds as a retainer after he hired the First Son as his lawyer, following his arrest by US law enforcement in November 2017 on bribery and money laundering charges.

The report by the senators said Hunter and Jim’s companies received a total of $4,968,220.01 from Hudson West.


GOP Senators Ron Johnson and Chuck Grassley, who have been investigating the First Son for almost four years, released hundreds of pages of bank records obtained in their investigation on Tuesday

Grassley and Johnson accompanied the ream of records with an excoriating letter to federal prosecutor, David Weiss

The senators included a graphic illustrating the flow of money from the Hudson West III, LLC account to Hunter’s family members, his Chinese business partners, and his own companies 

The millions of dollars were ostensibly for the Bidens’ work helping to land energy deals for CEFC around the world.

But mounting evidence – in text messages, emails and photos – of Joe’s knowledge and even involvement in his family’s Chinese business, suggests the cash could in fact have been part of an attempt to gain influence with the future president.

In their fiery letter to Weiss, the senators highlighted how CEFC was not just a private company; it had many close links to the Chinese Communist Party (CCP).

The firm received financing from the state-owned China Development Bank and hired a number of former officials from state-owned energy companies, the lawmakers said.

Grassley and Johnson quoted a Reuters article from January 2017 which noted that CEFC’s subsidiaries were flooded with Communist Party committees, ‘more than at many private Chinese companies’.

The firm’s chairman, Ye Jianming, had ties to the CCP and the People’s Liberation Army, the senators wrote.

They highlighted an analysis by Martin Hala, an academic based in Prague who tracked the company’s networking efforts in the Czech Republic, who told the New York Times in December 2018 that, ‘It’s been clear for some time that this is not just a Chinese commercial company, that they had some intelligence ties.’

‘CEFC was the perfect vehicle to bring financial benefits to the communist regime under the guise of a private sector company,’ Grassley and Johnson wrote in their letter.

The report highlights a clause in the agreement that established Hunter and Jim Biden would be compensated $100,000 and $65,000 monthly, respectively, with Hunter receiving a $500,000 ‘one-time retainer fee’ for the deal 

A document included in the trove of investigative materials shows Hudson West’s $5M capital contribution and $0 from Owasco PC, Hunter’s firm


CEFC’s chairman Ye Jianming (left) had been arrested in China and his lieutenant Patrick Ho (right) had been convicted in the US of bribery. Ho had previously hired Hunter as his lawyer when he was facing bribery charges in 2017  

Hunter himself seemed to be well aware of CEFC’s close links to the Chinese government.

In an audio recording on his abandoned laptop, he referred to Ho as the ‘f***ing spy chief of China’.

Court records reveal the FBI obtained a warrant to monitor Ho’s communications under the Foreign Intelligence Surveillance Act, usually used to keep tabs on foreign spies.

However Ho has not been convicted of any espionage offenses – just bribery.

Hunter also texted his business partners that he believed Chinese President Xi Jinping had personally given his approval for CEFC to form a joint venture with the Bidens.

Senators Grassley and Johnson sent the records to Delaware prosecutor David Weiss (pictured) investigating Hunter’s potentially criminal business dealings with foreign nations

The First Son texted his American partners in his CEFC venture in May 2017 that CEFC executive director Zang Jianjun was ‘coming to be MY partner to be partners with the Bidens’ and that Zang ‘implied that the #1 has made that clear and available to him’.

A party to the conversation told DailyMail.com that ‘#1’ was Hunter’s code for Xi.

Some of the money poured into the joint venture went to paying its Chinese staff.

CEFC manager Gongwen Dong was paid a total $123,319.68 over the 14-month period in the bank statements, and another CEFC executive Mervyn Yan’s firm got $318,286.37.

The senators also highlighted payments totaling $29,795.84 to JiaQi Bao, a glamorous young staffer for the joint venture who was close to Hunter – and also had close ties to the Chinese government.

DailyMail.com has previously revealed flirty emails Bao sent Hunter offering opposition research to help Joe’s campaign, hinting at political sea changes in China, encouraging Hunter to embezzle cash from the joint venture, and offering to drop off his military dog tags he had left at her apartment.

This week Republican ranking member of the House oversight committee James Comer wrote to the FBI demanding information on Bao.

Comer’s letter said Bao ‘liaised with CCP-affiliated agents on the Bidens’ behalf’ and that her relationship with Hunter went ‘beyond professional obligations – a common tactic employed by Chinese agents.’

As the committee letter notes, Bao received a degree from Tsinghua University – a recruiting hub for China’s intelligence service – and then worked for the PRC’s National Development and Reform Commission, which approves projects that receive foreign funding.

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