Business efforts of Biden brother and son prompt new questions over influence peddling
by Joseph Simonson
| August 15, 2019 05:47 PM
A longtime donor of Joe Biden financed a second mortgage for the vice president's younger brother, James, worth $500,000, in order to pay for a Florida vacation home, adding yet another cloud of suspicion over whether the Biden family financially benefited from political connections.
According to a Thursday Politico report, the Ukrainian American businessman John Hynansky, who has donated nearly six figures to the former vice president's campaigns over the years, in 2015 lent James Biden the half-million dollar sum for a Florida vacation home on an island only accessible by boat.
That report echoes similarities to allegations that James Biden was able to get atypical loans while his brother served on the Senate Banking Committee.
James Biden would eventually get into business with his brother's son, Hunter Biden. In 2006, Hunter and James Biden bought Paradigm Global Advisers. At the time, Hunter said, "We've got people all around the world who want to invest in Joe Biden … We've got investors lined up in a line of 747s filled with cash ready to invest in this company.â€
Prior to that, Hunter Biden had opened a lobbying shop with clients that often had business in front of his father's Senate committees.
During Joe Biden's second term as vice president, in 2013, Hunter Biden reportedly arranged a Beijing meeting between him and Jonathan Li, a Chinese businessman who ran the equity fund Bohai Capital. Li was in a separate business arrangement with Hunter Biden.
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