Transaction tax

Will he or will he not be charged soon?

Comment

Based on hundreds of news and investigative reports over the past few years, not to mention well-researched books like Peter Schweizer’s Profiles in corruption: Abuse of power by America’s progressive elite, Hunter Biden – Joe Biden’s second son – is said to have waltzed on the dark side of the law for most of his adult life.

Speculation has long swirled about Hunter’s corrupt business dealings. He was lit up in incriminating Joe Biden video of a speech made in January 2018 at the Council on Foreign Relations. The speech highlighted the pressure he personally exerted on then Ukrainian President Petro Poroshenko to sack a Ukrainian prosecutor who may have been investigating corruption potentially linked to his son: “I watched them [the Ukrainians] and said: I am leaving in six hours. If the attorney isn’t fired, you don’t get the money. Well, son of one [expletive]. [laughter] He got fired.” However, the lid was really blown on Hunter’s various corrupt dealings by The New York Postin October 2020, when he broke a influence peddling operation involving members of the Biden family.

Tucker Carlson resumed the Post’s laptop disclosure with an interview with former Hunter Biden business partner/associate Tony Bobulinski on October 27, 2020. In this interviewBobulinski claimed he was personally vetted by Joe Biden in two separate meetings to run Bidens business operations in China, which involved a joint venture called Bohai Harvest RST (BHR) between Rosemont Seneca Partners (in which Hunter was a partner ) and the China Investment Company Bohai Capital. And as reported here and hereRosemont Seneca subsequently “obtained a $1 billion investment from the state-owned Bank of China, which was later increased to $1.5 billion”.

Rosemont Seneca secured a $1 billion investment from the State Bank of China, which was later increased to $1.5 billion.

A two-speed judicial system

With the continuous drip of revelations and media reports since then, Hunter Biden’s list of alleged crimes has grown quite long, and perhaps the chickens are finally coming home to roost, like a number recent news reports (see CNN Report here) suggest that a grand jury will return the indictments against him “soon”. He could potentially be indicted for a number of crimes, like this July 23 article by legal scholar Jonathan Turley for The hill suggests: lying on a federal form to conceal drug use to obtain a firearm, tax evasion, influence peddling, money laundering, and agent registration law violations foreigners (FARA). However, Turley does not mention the more sensational possible charges, given Hunter’s videos and emails from this laptop that show potential evidence of illicit drug use, child pornographyand links with prostitution and/or human trafficking networks.

It’s not a stretch of the imagination to discern that there seems to be a two-tier justice system at play here. Any ordinary American with similar evidence that has been compiled, on the public record, through news reports would have been charged, prosecuted, convicted and sentenced long ago. Imagine the binge eating if Donald Trump, Jr., had been involved in similar activities!

Hunter Biden walks to Marine One on the Ellipse outside the White House in Washington, DC on May 22, 2021. (Brendan Smialowski/AFP via Getty Images)

In Hunter Biden’s case, it’s pretty obvious that his family ties to a top US politician – and now sitting president – ​​have long shielded him from prosecution. FARA prosecutions have become politically motivated and rare. Money laundering has become an art form for which very few members of the political class are prosecuted. And influence peddling has been virtually legalized over time by the Supreme Court, as noted hereto the point that anti-corruption laws have opened the doors to the behavior of the Bidens and other members of the American political class.

There are also many loopholes and workarounds to avoid federal rules and regulations. Take, for example, those associated with monitoring and reporting financial transactions for possible illegality. And although Turley alluded to money laundering in his article above, he didn’t go into detail. Let’s examine the question further.

Avoid unwanted exams

The Treasury Department operates the Financial Crimes Enforcement Network (FinCEN), whose mission is “to protect the financial system from misuse, to combat money laundering and related crimes, including terrorism, and to promote national security through the strategic use of financial authorities and the collection, analysis and dissemination of financial intelligence. FinCEN applies the Bank Secrecy Act 1970which was originally enacted “to prevent financial institutions from being used as tools by criminals to hide or launder their ill-gotten gains”.

FinCEN uses two tools to track large and/or suspicious financial transactions: the Currency Transaction Report (CTR) and the Suspicious Activity Report (SAR). CTRs are standard reports from banks and other financial institutions that are filed for all transactions over $10,000. SARs are filed when banks and other financial institutions have reason to suspect suspicious activity associated with a given account. Receipt of a SAR triggers an investigation by FinCEN, with the goal of identifying bank customers who are involved in money laundering, fraud or terrorist financing.

Automatic CTRs can of course be avoided by limiting its trades to less than $10,000. And unscrupulous foreign banks can be found that look the other way and do not send SARs to the Treasury Department, in order to take advantage of equally unscrupulous account holders. Then there are offshore tax havens that provide legal cover to house large sums of money. In 2016, a window to this world was provided by the so-called Panama papersi.e. the 11.5 million encrypted leaks confidential documents which revealed around 214,000 tax havens, involving people from nearly 200 different countries, including the United States.

In summary, money laundering through foreign banks to foreign tax havens is a standard way used by influence peddlers and criminals to hide money from the IRS. And simply underreporting financial transactions below the required $10,000 reporting threshold can be a way to avoid unwanted scrutiny by FinCEN.

Hunter Suspicious Transactions

When Hunter Biden was under tenure as a member of the Ukrainian gas conglomerate Burisma Holdings Board of Directors directors, a banking transaction in April 2014 was recorded (pdf) between Privat Bank (Ukraine/Burisma) and Morgan-Stanley, an investment bank specializing in “equity investments and wealth management” that handled Rosemont Seneca (Hunter Biden’s company). Morgan Stanley’s statement highlights its $83,333 monthly fee from Burisma Holdings. Also in April, a bank transaction record shows more than $3,000,000 received by Morgan Stanley on behalf of Rosemont Seneca from Germany’s Deutsche Bank. Could this large sum have been part of a “payment of 3.5 million dollars [to Hunter Biden in February 2014] of the wealthy wife of the former mayor of Moscow”, as reported by Newsweek in September 2020?

Hunter Biden has also been linked to financial dealings with Ukrainian, Russian, Kazakh and Chinese nationals, as previously reported here by the daily call. Are there other SARs and financial transactions associated with Rosemont Seneca and other Biden family businesses that are being reviewed by FinCEN as part of this grand jury investigation?

It would be instructive to see the complete set of financial transactions associated with Rosemont Seneca, as well as all monies received by Hunter Biden from foreign sources over the past dozen years. Perhaps the complexity of reviewing these records is why the grand jury process took so long to determine if there is probable cause to indict Hunter.

Final Thoughts

Hunter Biden is a poster child for influence peddling and evading accountability for corrupt acts under the law. Emails, videos and photographic records from his laptop that have been leaked into the public domain incriminate him in a wide range of potential criminal activities. That he was not prosecuted for anything at this point is itself an indictment of our criminal justice system.

The latest is that the grand jury investigating Biden “has been disbanded,” according to a Fox News report July 21. Reports that an indictment is imminent for Burisma, Rosemont Seneca, videos of him smoking crack cocaine, child pornography files on his laptop, a falsely filed gun background check and other evidence already in the public record, are apparently dropped into the memory hole without further action.

It pays well to be the offspring of an American president.

The opinions expressed in this article are the opinions of the author and do not necessarily reflect the opinions of The Epoch Times.

Stu Cvrk

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Stu Cvrk retired as a Captain after serving 30 years in the United States Navy in a variety of active and reserve capacities, with considerable operational experience in the Middle East and Western Pacific. With his training and experience as an oceanographer and systems analyst, Cvrk graduated from the US Naval Academy, where he received a classic liberal upbringing that serves as the essential foundation for his political commentary.