Hunter Biden's former business partner made new revelations in a statement to the House impeachment inquiry about Hunter’s efforts to secure a financial future for his family by founding a multibillion-dollar hedge fund and marrying foreign investors under the “globally known political name” Biden.
Although Jason Galanis’ sworn testimony provides new context for the organization's plans, an email from an abandoned laptop and evidence from Biden’s impeachment inquiry reveal the full scope of the project prior to Galanis and Devon Archer, another business partner of Hunter Biden, who were both involved in the deal.
The plan included agreements with powerful Russian and Kazakhstani oligarchs, businessmen connected to the Chinese government, and politically connected Mexican tycoons, among others. It sought to foster global cooperation between prominent investors from all continents.
In a fraudulent scheme Galanis claimed was intended to provide the financial foundation for the new deals, Galanis and Archer were ultimately charged and found guilty. Despite having a close relationship with the organization responsible for the scheme, Hunter Biden managed to avoid being subject to any scrutiny in the Galanis and Archer cases.
Galanis described how the Biden name was a key component of the hedge fund the three partners planned to build in his opening statement, which was released on Friday to House impeachment investigators and was obtained by Just the News.
At an interview held in a federal prison in Alabama, where Galanis is currently serving his sentence, he claimed that the Biden family name and his access to his father, Vice President Joe Biden, were the only things that Hunter Biden added to our business.
He described the business model as “our goal” to create a diversified private equity platform that would be anchored by a globally recognized Wall Street brand and a politically recognized political name.
Hunter Biden worked to strategic relationships to the venture, including from Kazakhstan, Russia, and China, Galanis said in addition to his name or perhaps because of it.
The names are already well-known to the impeachment inquiry investigators, who have gathered substantial evidence to show that Joe Biden met with nearly all of his son's foreign clients and traced payments or business deals that occurred close to these meetings. When proven false, Biden later backtracked and said he only had a “cup of coffee” with investment banker Jonathan Li, who operated a private equity fund, BHR Partners, in which Hunter was a board member. Biden repeatedly denied ever having a meeting with any of his son's business partners.
According to Archer's testimony, Russian oligarch Yelena Baturina, the widow of former Moscow mayor Yury Luzhkov, was a guest at a dinner hosted by Hunter Biden at posh Cafe Milano in Washington, D.C.'s Georgetown neighborhood. In order to invest in a real estate deal in New York City, Baturina had deposited $3.5 million into a bank account linked to a Hunter Biden business a few weeks earlier.
Kenes Rakishev, oligarch of Kazakhstan, also attended the dinner with Hunter. On April 21, 2014, shortly after the gathering, Rakishev wired a Hunter Biden-connected entity $142,300. According to a report from the Oversight Committee, the same amount was wired to a New Jersey car dealership the day after the event, for a Porsche for Hunter.
Hunter Biden and Devon Archer intended to concentrate their political connections and funds under one organization based on the relationships they had established with oligarchs like Rakishev and Baturina.
