Public information corroborates details of the Federal Bureau of Investigation’s (FBI) document implicating Hunter Biden in corrupt dealings with Ukrainian energy firm Burisma, Margot Cleveland of The Federalist first reported.
The FBI document is based on information provided by a “key confidential source,” who told the FBI that Burisma had paid Hunter Biden to secure access to then-Vice President Joe Biden’s political pull to assist the firm’s efforts to make money.
Public information corroborates details about Burisma’s dealings in 2015 and 2016, which align with the source’s claims implicating the Bidens in corrupt activities in Ukraine, according to the FBI document and Margot Cleveland’s analysis.
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According to the FBI document, the confidential source asserted that Burisma intended to access U.S. capital markets sometime in late 2015 or early 2016 and that the firm was willing to spend up to $30 million to do so.
Hunter Biden advised Burisma executives to buy an existing, established energy company in the U.S. to access Western markets because it could raise far more capital via U.S. markets than it could elsewhere.
In January 2016, Burisma ended up buying a majority stake in KUB-Gas, an energy company listed on a Canadian stock exchange, for $30 million, according to Interfax-Ukraine. Though Burisma does not appear to have accessed American capital markets as it had hoped, the timing and size of the deals it made to access Western capital markets generally align with the assertions of the FBI’s source, according to the FBI document and Cleveland’s analysis.
According to the FBI document, Burisma paid Hunter Biden a monthly salary of $50,000 despite his lack of relevant experience in the energy sector.
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A Burisma executive told the FBI’s confidential source that they had placed Hunter Biden on the company’s board to “protect us, through his dad, from all kinds of problems,” according to the FBI document.
According to the FBI document, the company was under investigation by a Ukrainian prosecutor, which posed a problem for Burisma’s hopes of accessing U.S. capital because an ongoing investigation would likely have foiled an attempt to raise capital in the West.
According to USA Today, the Ukrainian prosecutor was fired in March 2016, with then-Vice President Joe Biden leveraging $1 billion in U.S. aid funds to do so.
Serinus, the London-listed previous majority owner of KUB-Gas before the 2016 deal with Burisma, also operates in Romania, according to its website.
The Bidens allegedly received money from corrupt Romanian oligarchs in exchange for access to their political pull.
The confidential source report was released by Republican Sen. Chuck Grassley of Iowa, who received the document from an FBI whistleblower.
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