Blog: What Do Hunter Biden and Scientologist-Owned GPB Capital Have in Common? - 2019-11-24

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F0.png What Do Hunter Biden and Scientologist-Owned GPB Capital Have in Common? November 24, 2019, Jeffrey Augustine, Scientology Money Project

Hunter Biden is in the spotlight right now. The son of former US Vice President Joe Biden, Hunter Biden has been a prominent figure in the Congressional hearings that almost certainly will lead to an impeachment trial against President Trump in the Senate. Biden is also under fire for making $50,000 a month while employed by the Ukrainian firm Burisma Holdings. Biden recently stepped down from his position as a Board member of the Chinese company BHR, a firm described by the Financial Times as, "a private investment fund backed by a number of Chinese state entities including Bank of China, China Postal Savings Bank and China Development Bank."

That the Biden family has long mixed money and politics is no secret. This is true of many political family dynasties on both sides of the aisle. The proximity to a powerful political leader confers upon anyone — family member or friend — incredible access to elite business and social circles.

In 2006, then Senator Joe Biden's brother James and his son Hunter entered into an agreement to purchase a New York fund of hedge funds called Paradigm Global Advisors. The firm was started in 1991 by Dr James Park, one of the many sons-in-law of Unification Church founder Sun Myung Moon. Dr. Park claimed that Paradigm had $1.5 billion in assets under management. The Bidens failed to conduct proper due diligence and Dr. Park's claim was later found to be false.