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2020-01-19 Home Front: Politix

How five members of Joe Biden's family got rich through his connections

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Posted by g(r)omgoru 2020-01-19 01:25|| || Front Page|| [2 views ] Top

#1 Hidden in plain sight -- Biden's bro is a war profiteer who, without any construction experience at all, was given a major share of ca. $735 million in profits from a billion dollar reconstruction contract in Iraq.

And not one pixel in the mainstream press about the VP's family engaged in war profiteering.

Per Peter Schweizer:

Less than three weeks [after Biden invited his cronies at the construction firm into White House meetings], HillStone announced that James Biden would be joining the firm as an executive vice president. James appeared to have little or no background in housing construction, but that did not seem to matter to HillStone. ...

James Biden was joining HillStone just as the firm was starting negotiations to win a massive contract in war-torn Iraq. Six months later, the firm announced a contract to build 100,000 homes. It was part of a $35 billion, 500,000-unit project deal won by TRAC Development, a South Korean company. HillStone also received a $22 million U.S. federal government contract to manage a construction project for the State Department.

David Richter, son of the parent company’s founder, was not shy in explainingHillStone’s success in securing government contracts. It really helps, he told investors at a private meeting, to have “the brother of the vice president as a partner,” according to someone who was there.

The Iraq project was massive, perhaps the single most lucrative project for the firm ever. In 2012, Charlie Gasparino of Fox Business reported that HillStone officials expected the project to “generate $1.5 billion in revenues over the next three years.” That amounted to more than three times the revenue the company produced in 2011.

A group of minority partners, including James Biden, stood to split about $735 million. “There’s plenty of money for everyone if this project goes through,” said one company official. ...

James Biden remained with Hill International, which accumulated contracts from the federal government for dozens of projects, including projects in the United States, Puerto Rico, Mozambique, and elsewhere.

Posted by Lex 2020-01-19 12:14|| 2020-01-19 12:14|| Front Page Top

#2 Government jobs often lead to wealth way beyond a paycheck.

Posted by JohnQC 2020-01-19 15:43|| 2020-01-19 15:43|| Front Page Top

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