An email by Eric D. Schwerin, President of Hunter Biden’s investment firm Rosemont Seneca Partners LLC, exposed that Hunter Biden’s reported income tripled since he joined the Board of Burisma Limited, a Ukrainian natural gas company.
The son of the former Vice President and current presidential hopeful, Joe Biden, is a long term drug addict and one without a job or natural resource experience before his father became the Vice President. His appointment to the Board of Burisma is heavily criticised to be evidence of the Biden’s family profiting from Joe Biden’s public office.
In this email, Hunter Biden’s reported tax income was $833,614 in 2013 and $847,328 in 2014. After Hunter Biden joined the Burisma Board, his 2014 income was adjusted up to 1,247,328, a whopping 47% increase.
In 2015, Hunter Biden’s reported tax income rose $2,478,208 , tripling his 2014 income prior to joining Burisma.
Schwerin outlaid Hunter Biden’s direct income in 2015 as the following : “$166,666 from Burnham (for RSA), $216,000 from Boies, $365,403 from Owasco (for RSA) and $300,000 one time payment from Eudora (for the 1/3 of CitizenRx)” which added up to about $1.2 million. The balance is what Schwerin called “phantom income”, another $1.2 million, that was paid to Hunter Biden’s slush fund, RSB.
Before he closed, Schwerin laid out estimates of Hunter Biden’s 2016 income which include $1,295,000 from Owasco that represents Burisma and “any Romania payments”. The Romanian payment may be related to Hunter’s reported business deal with Gabriel “Puiu” Popoviciu, a wealthy Romanian real estate tycoon for Popoviciu to dodge a criminal prosecution related to corruption.
The mind boggling list of entities name in this one email offer a glimpse into how the Biden family made their money.
‘Burisma’ refers to Burisma Holdings Limited, a Ukraine gas company which Hunter Biden sat the the Board from 2014-2019. Hunter joined the Board around the time his father, then U.S. vice president, was helping conduct the Obama administration’s foreign policy with Ukraine (reference).
‘RSB’ refers to Rosemong Seneca Bohai, a slush fund used to pay for Hunter Biden’s expenses.
‘Burham’ refers to an entity called Burnham Financial Group, where Hunter Biden’s business partner Devon Archer sat on the board of directors. According to a New York Post report, Burnham became the vehicle for a number of murky deals abroad, involving connected oligarchs in Kazakhstan and state-owned businesses in China.
‘Boeis’ or ‘Boeis Schiller’ refers to Boies Schiller Flexner LLP, a New York based law firm that Hunter Biden was brought on board in a “high paying no show job” in 2009. Boeis was reported to have received $283,000 on behalf of Hunter Biden from a Ukraine oligarch to support Hunter for “unspecified work”.
‘Owasco’ refers to Owasco LLC, another law firm of Hunter Biden which according to a report accepted nearly six million in consulting fees and legal representation from Chinese oligarch Ye Jianming.
‘Eudora’ refers to Hunter Biden’s venture capital firm, Eudora Global, which according to an article “specializes in health care, online gambling and renewable energy”.
Tip of the iceberg?
This email exposed that the monetary gains by Hunter Biden since joining Burisma is more than the $50,000 per month reported in a New York Post story earlier.
The income exposed in this email may only be a tip of the iceberg of what the Biden family actually made. The FBI’s investigation on the Biden’s family money laundering business, if conducted fairly, should reveal more.
From: Eric Schwerin [email protected]
Date: January 16, 2017 at 3:11 PM
To: Hunter Biden [email protected]
In 2013, your taxes reported $833,614 in income.
In 2014, your taxes reported $847,328 in income (To be amended at $1,247,328)
In 2015, your taxes reported $2,478,208 in income.
2013 and 2014 were normal years where your income was based pretty much solely on income from Rosemong Seneca and Boies. In 2014 you joined the Burisma board and we still need to amend your 2014 returns to reflect the unreported Burisma income. That is approximately $400,000 extra so your income in 2014 was closer to $1,247,328.
The reason for the increased income in 2015 was that your income broke down as follows:
$166,666 from Burnham (for RSA)
$216,000 from Boies
$365,403 from Owasco (for RSA)
$300,000 one time payment from Eudora (for the 1/3 of CitizenRx)
The above represents all the cash you received directly.
In addition, you reported $1,000,000 of income that all went to RSB and you report $188,616 in income that also went to RSB. You didn’t receive this in cash and it is in reality “phantom income”.
So, of the approximately $2.5m in income you never really received almost $1.2m of it. (My numbers are approximate but you get the idea.)
Of the $1,300,000 in cash you received you had to pay $751,294 in taxes. Since you couldn’t have lived on approximately $550,000 a year you “borrowed” some money from RSB in advance of payments.
FYI, in 2014 and 205 you also had expenses beyond the norm because you renovated the house. Across 2014 and 2015 the renovation payments totalled approx.. $200,000.
The numbers for 2016 I haven’t been finalized yet but you made at least the following:
$1,295,000 from Owasco, P.C. (representing Burisma and any Romania payments) $216,000 from Boies Schiller.
Unlike the prior years you actually received the above cash but the total income for 2016 won’t be close to 2015.
Hope this makes sense
Original email screenshot