Hunter Biden used his family name to land deals with foreign tycoons, a new report indicates.
According to Fox Business:
Hunter Biden ramped up business activities with European and Chinese tycoons as his father exited the vice presidency four years ago. For him it was a potential path to income; for the tycoons, the Biden family name promised to burnish their reputations.
The dealings got the younger Mr. Biden a discounted stake in a private-equity firm in China and consulting arrangements with a Romanian property magnate and overall allowed him to maintain a globe-trotting lifestyle, according to interviews, documents and communications reviewed by The Wall Street Journal. A Chinese energy tycoon gave Mr. Biden a 2.8-carat diamond, and entities linked to him wired nearly $5 million to Mr. Biden’s law firm, according to an investigation by Senate Republicans.
These arrangements now loom over President-elect Joe Biden. A federal criminal tax investigation into Hunter Biden’s business dealings is under way, with findings potentially trickling out in coming months. His business ties to well-connected people in China and other places could add to scrutiny of foreign-policy decisions taken by the Biden administration over possible conflicts of interest. All are likely to provide ammunition to Republicans.
Sen. Chuck Grassley (R., Iowa), who has led the Senate Finance Committee whose Republican staff helped investigate Hunter Biden, has said he would continue to look into what he says are possible counterintelligence and criminal concerns related to Mr. Biden’s business dealings.
Grassley has stated that he wants an explanation from Joe Biden about these business dealings.