Staff Reports
During the time when President Joe Biden was serving as vice president, Hunter Biden struck a real estate deal with Yelena Baturina, a Russian millionaire and the wife of the former mayor of Moscow. The agreement was for forty million dollars.
According to records provided by an anti-corruption group called the Kazakhstani Initiative on Asset Recovery, the massive deal has some sort of connection to a previously reported $3.5 million fee that Baturina paid to Hunter's real estate entity in order to gain access to the American business market. The Daily Mail reported this information on Monday.
The real estate transaction for $40 million was arranged so that it would become a component of a collective real estate fund that would be used to invest in long-term ventures that Hunter had determined would be valuable in the United States. These types of investment vehicles are commonplace among experienced investors and fund managers with years of industry experience. Because of the intricate nature of the fund's operations, the organization that manages the fund is frequently required to comply with severe disclosure requirements set forth by government oversight authorities.
According to a story from the Daily Mail, the overall acquisition strategy for Hunter involved the purchase of seven office buildings located in the states of Texas, Colorado, Alabama, New Mexico, and Oklahoma using a total of $52 million in cash and $160 million in leverage. It was reported that Hunter's real estate fund, known as Rosemont Realty, had managed to raise a sum of $69.7 million to investment in office space measuring 2.15 million square feet.
The investment firm owned by Hunter contributed $15 million of its own capital to the fund. It is a mystery as to where Hunter's business firm obtained such a substantial amount of money in order to invest it in the convoluted investment strategy.
EXCLUSIVE: Leaked emails reveal Hunter Biden's real estate company received a $40MILLION investment from Russian oligarch https://t.co/lxcijUJG7f
— Daily Mail Online (@MailOnline) October 17, 2022
According to Forbes, the forty million dollars that Baturina invested in the fund came from a Swiss company that she owned called Inteco Management AG. Inteco Management AG is a giant in the plastics and construction industries, and it was this company that made Baturina a Russian oligarch and the richest woman in Russia in 2012.
According to screenshots provided to the Kazakhstani Initiative on Asset Recovery by Baturina's brother Kenes Rakishev, who is connected in the Kazakh business community and a partner of Hunter's, the following was written in the prospectus for Hunter's company: Rosemont Realty has decided to enter into property acquisition contracts for $212,580,000.
At Cafe Milano in Washington, District of Columbia, in 2015, Rakishev was spotted with Hunter and Joe Biden, who was then serving as Vice President. This was one of 17 times that Joe Biden has been engaged in the Biden family business:
Breaking: this photo appears to have been taken at Cafe Milano showing then VP Joe Biden with two Kazakhstani guests from Hunter's 2015 dinner to introduce his clients to dad. L-R – oligarch Kenes Rakishev, Hunter, Joe, PM Karim Massimov https://t.co/ywWPhL3T3f pic.twitter.com/WO5xAVOH02
— Miranda Devine (@mirandadevine) May 28, 2021
According to the Russian version of the prospectus, the partners will contribute a total of $69,700,000. On the same terms as all other partners in the Investment Partnership, the Managing General Partner will allocate at least $15,000,000 of share capital.
New information about a commercial enterprise run by the Biden family during Joe Biden's tenure as vice president leads to questions about whether or not Hunter sold his leverage to the White House to be able to get such a significant amount of invested cash. Complex investment strategies like this are often carried out by seasoned fund managers with the participation of investors who are at ease with the fund managers' level of experience and track record of profitability.
According to Breitbart News, two years after the real estate transaction, in 2014, Baturina was residing in the United Kingdom with her late husband Yuri Luzhkov, a former mayor of Moscow who was accused of real estate corruption:
After former Russian President Dmitry Medvedev removed Luzhkov from public office in 2011 as part of an investigation into public corruption, Baturina and her husband relocated to Great Britain. This occurred after Luzhkov was accused of public misconduct. According to the Homeland Security Committee, the former mayor in particular was accused of exploiting his power to authorize more than 20 real estate projects tied to Baturina's commercial interests. This information comes from the committee's investigation.
According to a report that was released in 2020 by the Republicans in the Senate, Hunter was the recipient of a wire transfer from Baturina for the amount of $3.5 million in the year 2014. Baturina disclosed that her active participation with Hunter was a financial relationship, but no additional information regarding the payout to Hunter was provided.
During the time that Hunter was serving on the board of directors of Burisma and reputedly earning $80,000 per month, Hunter was also actively engaged in the real estate business. Joe Biden was serving as vice president at the time. After Joe Biden had left office, it was reduced by one half.
The preceding is a summary of an article that originally appeared on Breitbart.
