From the "No Corruption Here", files: Eight Things to Know About the Biden Family’s Culture of Corruption
Biden, the frontrunner among 2020 Democrats, often touts his middle-class bonafides on the campaign trail. Although Biden did not become a multi-millionaire until he left the White House in 2017, the same cannot be said of his family. In fact, several members of the Biden clan became immensely wealthy over the span of the former vice president’s 40-year political career.
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1. Joe Biden’s younger brother, James Biden, secured generous bank loans.
In the wake of Joe Biden’s upset election to the U.S. Senate in 1972, his younger brother James was able to secure a series of generous bank loans ... James Biden had no business experience and a net worth of less than $10,000.
During the same time period James Biden was receiving the extensive lines of credit, Joe Biden was sitting on the Senate Banking Committee
2. Joe Biden’s top campaign contributor hired his youngest son Hunter right out of law school.
Shortly after Joe Biden was reelected to the U.S. Senate in 1996, his largest campaign contributor, the credit card issuer MBNA Corp., hired his son for an undisclosed role. ... Hunter Biden was a 26-year-old recent graduate of Yale Law School with no prior banking or business experience.
... when Hunter Biden left the company in 1998 [two years later] ... it was as a senior vice president.
3. An MBNA executive purchased Biden’s house for the full asking price in a deal that appeared facilitated by the company.
4. Hunter Biden remained on MBNA’s payroll while Joe Biden was writing bankruptcy reform legislation.
5. Joe Biden paid his family members with campaign cash.
During his failed 2008 presidential campaign, Joe Biden paid more than $2 million to his family members and their business.
6. James and Hunter Biden sought to monetize off Joe Biden’s political standing.
In 2006, close to when Joe Biden assumed the chairmanship of the Senate Foreign Relations Committee and launched his second presidential campaign, James and Hunter Biden purchased a hedge fund called Paradigm Global Advisors. Although neither man had a strong background in finance, James and Hunter Biden reportedly believed they could leverage Joe Biden’s political connections to their benefits.
“Don’t worry about investors,” James Biden purportedly told Paradigm’s senior leadership upon taking over the fund, as reported by Politico. “We’ve got people all around the world who want to invest in Joe Biden.”
7. James Biden’s received a $1.5 billion contract to build houses in Iraq while Joe Biden was overseeing the region.
Fox Business reported that a group of minority partners, which included James Biden, owned 49 percent of Hillstone. The other 51 percent was owned by the company’s parent group, Hill International. Given Hillstone’s profit breakdown structure, James Biden and the other minority partners would have been eligible to split more than $735 million after the deal was completed.
8. Hunter Biden’s firm scored a $1.5 billion deal with the Bank of China only days after Joe Biden and his youngest son visited the country.
...
1. Joe Biden’s younger brother, James Biden, secured generous bank loans.
In the wake of Joe Biden’s upset election to the U.S. Senate in 1972, his younger brother James was able to secure a series of generous bank loans ... James Biden had no business experience and a net worth of less than $10,000.
During the same time period James Biden was receiving the extensive lines of credit, Joe Biden was sitting on the Senate Banking Committee
2. Joe Biden’s top campaign contributor hired his youngest son Hunter right out of law school.
Shortly after Joe Biden was reelected to the U.S. Senate in 1996, his largest campaign contributor, the credit card issuer MBNA Corp., hired his son for an undisclosed role. ... Hunter Biden was a 26-year-old recent graduate of Yale Law School with no prior banking or business experience.
... when Hunter Biden left the company in 1998 [two years later] ... it was as a senior vice president.
3. An MBNA executive purchased Biden’s house for the full asking price in a deal that appeared facilitated by the company.
4. Hunter Biden remained on MBNA’s payroll while Joe Biden was writing bankruptcy reform legislation.
5. Joe Biden paid his family members with campaign cash.
During his failed 2008 presidential campaign, Joe Biden paid more than $2 million to his family members and their business.
6. James and Hunter Biden sought to monetize off Joe Biden’s political standing.
In 2006, close to when Joe Biden assumed the chairmanship of the Senate Foreign Relations Committee and launched his second presidential campaign, James and Hunter Biden purchased a hedge fund called Paradigm Global Advisors. Although neither man had a strong background in finance, James and Hunter Biden reportedly believed they could leverage Joe Biden’s political connections to their benefits.
“Don’t worry about investors,” James Biden purportedly told Paradigm’s senior leadership upon taking over the fund, as reported by Politico. “We’ve got people all around the world who want to invest in Joe Biden.”
7. James Biden’s received a $1.5 billion contract to build houses in Iraq while Joe Biden was overseeing the region.
Fox Business reported that a group of minority partners, which included James Biden, owned 49 percent of Hillstone. The other 51 percent was owned by the company’s parent group, Hill International. Given Hillstone’s profit breakdown structure, James Biden and the other minority partners would have been eligible to split more than $735 million after the deal was completed.
8. Hunter Biden’s firm scored a $1.5 billion deal with the Bank of China only days after Joe Biden and his youngest son visited the country.
