United States: Amidst the intricate web of investigations involving the US Securities and Exchange Commission (SEC) in 2016, Hunter Biden, leveraging his father’s vice presidential status, sought to dissuade further scrutiny, according to revelations from House Republicans.
Chairmen James Comer of the House Oversight Committee and Jim Jordan of the House Judiciary Committee penned a letter to the SEC’s chairman as part of ongoing inquiries linked to President Biden’s impeachment proceedings.
During this period, SEC attorneys were actively probing a tribal bond scheme, implicating several individuals for breaching federal securities laws. Notably, associates of Robert Hunter Biden and their associated entities faced scrutiny for alleged misconduct, according to Fox News.
The investigation prompted subpoenas for documents, communications, and testimonies from various parties.
Hunter Biden’s former business partner, Devon Archer, and Rosemont Seneca Bohai—a company linked to both Archer and Hunter Biden—were among those subpoenaed.
In March 2016, while Joe Biden held the vice presidency, Hunter Biden himself received a subpoena demanding documents and communications concerning Rosemont Seneca Bohai.
Rosemont Seneca Bohai, highlighted by Comer and Jordan, was directly involved in the tribal bond controversy. Records indicate Rosemont’s acquisition of the Second Tribal Bond Issuance in October 2014 for USD 15 million.
Archer, testifying before the House Oversight Committee, revealed Hunter Biden’s role as corporate secretary at Rosemont during the period, underscoring their equal ownership arrangement.
Furthermore, recent disclosures by the House Ways and Means Committee unveiled IRS documents confirming Hunter Biden’s corporate secretary position at Rosemont Seneca Bohai.
According to Archer, Rosemont Seneca Bohai functioned as a custodian for BHR (Bohai Harvest Rosemont Partners), a private equity fund focusing on cross-border investments in China. Notably, the RSB account facilitated financial transfers to Hunter Biden, including funds from Ukraine and a luxury car gift from a Kazakhstani oligarch, as per Fox News.
Hunter Biden complied with the SEC’s 2016 subpoena, producing 1,749 documents relevant to the investigation. However, his legal representation emphasized his father’s high office in their communication with the SEC.
House Republicans criticized Hunter Biden for invoking his father’s status as vice president, suggesting an attempt to deter further SEC scrutiny.
Interestingly, the SEC’s subsequent press release in May 2016 announcing charges against seven individuals did not implicate Hunter Biden, though his associates Devon Archer and Jason Galanis faced charges.
Galanis, currently serving a sentence for securities fraud, admitted to using funds intended for Native American projects for personal use. Archer, similarly implicated, received a prison sentence for defrauding Native American tribes and investors.
As part of the impeachment inquiry, Comer and Jordan demanded access to all SEC communications with the White House, including those involving Hunter Biden and Rosemont Seneca.
Their demands extend to justifications for investigating Hunter Biden, internal SEC communications related to his case, and ethical assessments involving Hunter Biden and then-Vice President Biden.
Furthermore, they seek the testimony of Tejal D. Shah, a former SEC staff attorney overseeing the investigation, through a transcribed interview.
In summary, the information sought by Comer, Jordan, and Jason Smith of the House Ways and Means Committee plays a crucial role in the ongoing impeachment inquiry.
Earlier, criminal referrals to the Justice Department implicated Hunter Biden and James Biden for allegedly misleading Congress on crucial aspects tied to the impeachment inquiry.
One such falsehood involved Hunter Biden’s position as corporate secretary at Rosemont Seneca Bohai, a role allegedly central to substantial international financial transactions involving the Biden family and associates, as per Fox News.
The House Republicans continue their inquiry into the president’s involvement and awareness of his family’s international financial dealings, claiming significant earnings for Biden family members and their affiliated entities.