Friday, January 24, 2020

Profiles In Corruption: The Biden Crime Family

View this post on Instagram

An investment fund connected to Hunter Biden received three million dollars in taxpayer cash from a federal program run by one of his father’s top advisers, according to revelations in Profiles in Corruption: Abuse of Power by America’s Progressive Elite—a new book by Peter Schweizer, a senior contributor at Breitbart News and the president of the Government Accountability Institute. In December 2013, Hunter Biden along with his long-time business associate Devon Archer invested in a Hawaii-focused venture capital fund called mbloom. The investment in mbloom, meant to provide seed capital for technology startups, was the result of a public-private partnership between Biden’s firm, Rosemont Seneca Technology (RST) Partners, and the state of Hawaii. As part of the agreement, RST would provide five million for the fund, with the Hawaii Strategic Development Corporation (HSDC) matching the same amount. Little-known at the time, however, was that more than half of HSDC’s contribution would come from a federal program controlled by a confidant of the Biden family. As Schweizer reveals in Profiles in Corruption, three million of HSDC’s matching funds came from the Treasury Department’s State Small Business Credit Initiative. The program, which expenses more than $1.5 billion to state economic development agencies, was administered by then-Deputy Assistant Secretary of the Treasury Don Graves. Complicating matters is that while Graves was overseeing the Small Business Credit Initiative, he was also informally advising Biden on economic and domestic policy as the executive director of the president’s Council on Jobs and Competitiveness. That role took on a more official form shortly after mbloom received its contribution from HSDC, with Graves leaving the treasury department and joining the vice president’s office. “It is hard to find someone tighter in the Biden orbit than Graves,” Schweizer writes in the book. “Over the course of his career, he has served as counselor to Vice President Biden, his domestic and economic policy director, and as his traveling chief of staff.”

A post shared by Breitbart (@wearebreitbart) on