The news just keeps getting worse and worse for President Biden’s son, Hunter Biden. It was recently reported that Hunter Biden’s real estate business, Rosemont Realty, once allegedly received a $40 million investment from a company that was owned by Yelena Baturina, a Russian oligarch.
The Daily Mail made the first report of this business connection between Hunter and Baturina and suggested that their interaction started much earlier than previously believes.
In 2009, Hunter co-founded Rosemont Seneca Partners with political advisers Devon Archer and Chris Heinz. Heinz is the stepson of former Secretary of State John Kerry, and Archer has been the subject of disgrace.
Three years after they founded the company, the reality company was started with basically the same employees including Hunter and Archer. They began to purchase real estate in seven states for hundreds of millions of dollars.
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According to the Daily Mail, Baturina’s company, INTECO Management AG, invested $40 million in that project.
Baturina has never publically discussed that investment, but a brother, Viktor Baturin, described it as “a payment to enter the American market.”
The INTECO company is based in Switzerland and it is a plastics and construction company. It has been so prosperous that it turned Baturina into the richest woman in Russia. She is currently worth $1.4 billion, according to Forbes. Baturina was married to Yury Luzhkov during his time as mayor of Moscow, from 1992 until he died in 2019.
In the Daily Mail report, there are screenshots of emails that seem to confirm INTECO’s investment with Rosemont Realty. In one email dated May 2012, Archer contacted Kazakhstani businessman Kenes Rakishev and invited him to join in the major real estate venture as well.
“This is a deal we’re closing next month and it’s just too attractive not to share,” Archer reportedly wrote to Rakishev.
“Inteco, who I know you know, is taking a significant equity piece,” Archer added.
Rosemont Realty alleged contributed at least $15 million to the venture which garnered an additional $70 million in investments, including the $40 million from INTECO. The total investment for the properties was $212,580,000 in cash and mortgages.
It is not certain that Rakishev invested in that particular real estate project, but there is no doubt that he did eventually partner with and become friends with Hunter Biden. They were seen together in photos that included Joe Biden in 2015 when he was the vice president under former President Barack Obama.
The event from which that photo was taken was something that both Baturina and Luzhkov were invited to, but they did not attend.
Baturina’s name because known to Americans in the Fall of 2020 when the U.S. Senate Homeland Security and Finance Committees accused her of wiring a total of $3.5 million to Rosemont Seneca Thornton LLC. This money was also allegedly connected to Rosemont Seneca Partners in 2014 for what was called “Consultancy Agreement DD12.02.2014.”
This was reported at that time by the New York Post, the Federalist, the Daily Mail, and other news agencies. Most of the outlets twisted the story to only include Hunter and not implicate his father, Joe Biden, who was then a candidate for the presidency.
Hunter’s lawyer, George Mesires, denied the allegations and said that Hunter was not a co-founder of Rosemont Seneca Thornton LLC and he did not have an equity interest in it.
Archer is currently serving a year in prison for defrauding a Native American tribe in a bond scheme.
Media outlets have reached out to both Hunter and Baturina for comments on this case but they have not responded to the requests.