In recent years, the Biden family has found itself embroiled in controversy over its business dealings due to concerns about political access, influence, and potential conflicts of interest. Among the most recent revelations, Joe Biden allegedly considered joining the board of a joint venture created by his son Hunter Biden and his associates with ties to the Chinese Communist Party after he left the vice presidency. This information was revealed by a former business associate of Hunter Biden, Jason Galanis. Galanis claimed that Joe Biden’s involvement would bring “political access in the United States and around the world.” However, Joe Biden ultimately did not take a seat on the board of the joint venture.
In 2014, Hunter Biden and Devon Archer were working on a joint venture with Harvest Fund Management, a $300 billion Chinese financial services company closely connected to the Chinese Communist Party. According to Galanis, who is currently serving a 14-year prison sentence for securities fraud, the goal of this partnership was to “make billions, not millions.”
Galanis testified that he agreed to contribute equity ownership to Hunter and Devon for no out-of-pocket cost from them in exchange for their “relationship capital.” The partnership sought to integrate a “Biden family office” into a large-scale financial company with international influence.
One of the key figures in this venture was Henry Zhao, the director of Harvest Fund Management. Galanis stated that Zhao was interested in this partnership because of the “game-changing value-add of the Biden family, including Joe Biden.” It was even suggested that Joe Biden would join the board of the joint venture after his vice presidency, providing political access in the United States and around the world.
Galanis pointed to a draft email dated Aug. 23, 2014, from Hunter Biden, which mentioned a “certain relation of mine” who was “very very keen on the opportunity.” Although the email does not specifically mention Joe Biden by name, there is an infamous photo of Joe Biden, Hunter Biden, and Devon Archer golfing together in mid-August 2014.
The controversy surrounding the Biden family’s Chinese deal has raised questions about the role of political influence in international business dealings. It highlights the potential conflicts of interest that can arise when high-profile political figures are involved in lucrative business ventures. As the investigation into this matter continues, it is crucial for the public to remain informed about the facts and to ensure that those in positions of power are held accountable for their actions.
