Hunter Biden found himself entangled in a controversial plan involving the sale of land surrounding the US Embassy in Romania to a consortium that included a Chinese enterprise, aiming to assist a Romanian real estate developer in evading corruption allegations.
The troubled son of the former president has connections to Romania that trace back to the time when his father, Joe Biden, served as vice president. His involvement in this particular proposal arose after he consented in 2015 to assist Romanian businessman, Gabriel Popoviciu, in contesting criminal charges, as reported by The New York Times.
This potential deal was discussed after Biden had exited office and seemed aimed at persuading Romanian authorities to halt the fraud investigation against Popoviciu.
The discussion revolved around Popoviciu possibly transferring a substantial stake in his land adjacent to the embassy to CEFC China Energy, a Chinese firm with which Hunter had previous interactions.
In the proposed structure, CEFC could potentially acquire up to 47.5% of the envisioned joint enterprise, according to reports.
To influence legal proceedings, it was suggested that the Romanian state could benefit financially from the initiative.
Hunter admitted to participating in the proposed project in various capacities ā serving as both Popoviciu’s legal representative and part of the purchase group.
The arrangement ultimately collapsed in 2017 as Hunter and his associates faced disputes.
At one juncture, Biden’s son expressed to his partners, “Iām the only one putting an entire family legacy on the line.”
Popoviciu received a seven-year prison sentence in 2017 after being found guilty of real estate fraud.
