Beijing’s “elite capture” strategy was to enrich the Bidens via major backroom deals in exchange for the ability to leverage Joe Biden’s influence as VP, writes Peter Schweizer.
The Biden family amassed $31 million from a series of deals with individuals with direct ties to Communist Chinese intelligence agencies, according to an explosive new book by Peter Schweizer.
Red-Handed: How American Elites Get Rich Helping China Win, which will be released on January 25, details how Hunter Biden partnered with China’s former Ministry of State Security chief and its head of foreign intelligence recruitment while his father was vice president.
The purpose, Schweizer explains, was for Beijing to enrich the Bidens via major backroom deals in exchange for the ability to leverage Joe Biden’s influence, a scheme they referred to as “elite capture.”
“The hazard of a Chinese businessman with close ties to the top ranks of Beijing’s spy agency conducting financial transactions with the son of the U.S. vice president cannot be overstated. How this did not set off national security or ethics alarm bells in Washington is a wonder in itself,” Schweizer wrote in Red-Handed.
China’s “elite capture” strategy with the Bidens led to the creation of private investment fund Bohai Harvest RST (BHR), spearheaded by an intelligence-linked tycoon named Che Feng and Hunter Biden.
Hunter was also introduced to Zhao Xuejun, chairman of Harvest Fund Management and Harvest Global Investments, the latter of which wired $5 million to another Hunter Biden business called Burnham.
“There is no one more powerful in the world of Chinese intelligence,” Schweizer wrote. “The seductive and lucrative deal that Hunter was now putting into place, creating BHR, involved two financiers with ties to the highest levels of Chinese intelligence, a billion-dollar private equity deal that we first exposed in Secret Empires. What we now know are the roles played by the spy-connected ‘Super Chairman’ and Zhao.”
“According to Michael Lin, another Chinese partner, Hunter’s role in the venture was pretty straightforward: ‘Open as many doors as possible in the western world for this very famous Bohai professional team.’ There was also the expectation that Hunter and his partners would ‘join some of the meetings in HK and China they arrange’ when communicating with possible financial partners,” Schweizer added.
Notably, Feng’s business partner was China’s Vice Minister of State Security Ma Jian, who oversaw North American elite capture counterintelligence operations. Both Feng and Jian were eventually arrested for money laundering and bribery, but Hunter’s ingratiation with China’s top spy chiefs was already complete.
“In sum, each deal the Bidens secured in China was via a businessman with deep ties at the highest levels of Chinese intelligence. And in each case there appears to be little discernible business or professional service that was rendered in return for the money,” Schweizer writes.
Hunter was not only making deals with Communist Chinese spies, but also with Russian oligarchs.
A 2020 Senate report revealed Hunter Biden received $3.5 million – for reasons unknown – from Russian billionaire Elena Baturina, the wife of the former mayor of Moscow.
Schweizer, a Breitbart contributor, has thoroughly documented Hunter and Joe Biden’s shady activities in Ukraine and China in his previous book Secret Empires.