$54M in Chinese gifts donated to UPenn, home of Biden Center

A government watchdog is demanding the US Attorney probing Hunter Biden in Delaware investigate tens of millions in anonymous donations from China to the University of Pennsylvania, where an academic center is named for his father, President Biden.

The Ivy League college raked in a total of $54.6 million from 2014 through June 2019 in donations from China, including $23.1 million in anonymous gifts starting in 2016, according to public records.

Biden Center Under Investigation for Illegal Donations From China
DB Daily Update | David Blackmon / FR Posted on 5/25/2020, 9:19:56 AM by EyesOfTX

If the label says “Biden,” it was definitely influenced by China. – John Solomon at JustTheNews.com is reporting that The National Legal and Policy Center has asked the U.S. Department of Education to investigate its findings that the University of Pennsylvania (Penn) has over the past several years accepted more than $22 million in anonymous China-originated donations to its Biden Center and failed to properly disclose the contributions.

From Solomon’s report: The complaint, filed by the National Legal and Policy Center, says that over the past three years, the university has (admitted to accepting around) $22 million in anonymous funding from Chinese sources. That’s out of a total of more than $70 million from Chinese donors during that time, the NLPC said.

Those significant funds, including the anonymous amounts, rolled in after the Biden Center opened 2018. The Center is located in downtown Washington, D.C. Federal records show that the University of Pennsylvania has received significant donations from Communist China since the opening of the Biden Center.

One 2018 donation alone totals $14.5 million; it is listed as “anonymous” in federal records. The NLPC alleges the university may have violated federal law in accepting those anonymous monetary donations from Communist China. The Higher Education Act mandates schools report the national origins of any donations above $250,000 although not necessarily the individual names of donors themselves. [End]

This serves as just one more reminder that Biden, his son (and his brother) have long been in the pockets of Communist Chinese interests. The stark reality facing our country today is thatall of the gains President Donald Trump has made through the sheer force of his will in terms of U.S./China relations and trade policy will be immediately reversed the day after Biden assumes office.

..........virtually all U.S. antibiotics and PPE are sourced through Communist China at some point along their supply chains ..........s fair share.

KEEP IN MIND.....virtually all U.S. antibiotics and PPE are sourced through China at some point along their supply chains....... There are trillions of dollars at stake, and Creepy Uncle Joe wants to ensure his family continues to get its fair share out of Communist China.

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It has recently come to light that US politicians are sending Communist China vast amts of tax dollars to supposedly buy (cough) “Covid masks.”Cali Gov Newsome was nabbed sending China a billion tax dollars. Why? Because the Chinese are using the Covid orders to launder the tax dollars for the salivating pols.

GOP: Why did Chinese donations to U of Penne triple to $72M after Biden Center formed?
NOQ Report ^ | 01/28/2021 | Scott Boyd
Posted on 1/28/2021, 11:33:26 PM by SeekAndFind

A week and a day into a Biden administration and there is already more evidence of Chinese influence being revealed than the entire body of “evidence” presented in the Russia probe against President Trump. The latest very questionable circumstance happened in 2017 when the University of Pennsylvania formed the Penn Biden Center.

In the 37 months prior to the center’s formation, the university received $21,187,333 from China. In the 39 months after the formation of the Penn Biden Center, donations from China more than tripled to $71,274,675. Republican Representatives James Comer, Jim Jordan, and Virginia Foxx sent a follow-up letter to the university yesterday after not receiving a reply to their initial inquiry.

🚨JUST NOW🚨

Top Republicans @RepJamesComer, @Jim_Jordan, and @virginiafoxx are expressing concerns over UPenn’s close relationship with the Biden family and recent revelations that the university has received millions of dollars from China. The lawmakers are seeking answers👇 pic.twitter.com/bMpUk9VSFa

— Oversight Committee Republicans (@GOPoversight) January 28, 2021

At the heart of this mess is Hunter Biden, the son of the President, who’s alleged dealings with the Chinese Communist Party have drawn a federal investigation. Moreover, there are reasons to believe based on documents found on Hunter Biden’s laptop as well as eyewitness testimony that his father is vulnerable to coercion from Beijing.

The Republican members of Congress laid out the reason for their requests in a letter sent to the president of the university:

On August 3, 2020, we wrote to you regarding unreported and anonymous foreign donations to the University of Pennsylvania from foreign adversaries such as Russia, China, Qatar, and Iran. We have yet to receive a response. In light of your university’s close relationship with the Biden family and recent revelations regarding their potentially illicit ties to foreign adversaries including China, we request an immediate response to this inquiry.

On December 9, 2020, both Hunter Biden and the Biden-Harris Transition Team admitted that Hunter Biden was under federal investigation for his “tax affairs.” Reporting indicates the criminal investigation’s primary focus is whether Hunter Biden violated tax and money laundering laws in his foreign business dealings, particularly in China. Notwithstanding significant counterintelligence concerns, these facts raise serious questions regarding conflicts of interest and the integrity of the Biden family’s ties to China. Understanding whether the University of Pennsylvania’s Biden Center for Diplomacy and Global Engagement (Biden Center) received funds from China or other adversarial nations at the behest of the Biden family or future Biden Administration officials will shed light on the depth and breadth of the potential improper influence these nations enjoy over the Biden family.

On February 1, 2017, University of Pennsylvania announced the formation of the Biden Center. In the 37 months of available reporting prior to the announcement of the Biden Center, the University received about $21,187,333 from China. In contrast, in the 39 months of available reporting since the announcement of the Biden Center, the University received $72,274,675 from China—an increase of $51,087,342 in a similar time frame.

For some time, we have been concerned about the Chinese Communist Party’s (CCP) efforts to use its strategic investments to turn American college campuses into indoctrination platforms for American students. In fact, Liu Yunshan, the former Head of Central Propaganda Department of China, pointed to the proliferation of CCP infiltration of U.S. education as part of a plan to “coordinate the efforts of overseas and domestic propaganda, [and] further create a favorable international environment for [China].” At the very least, increased CCP influence in the U.S. allows a window into U.S. culture, infrastructure, and planning—providing a gathering ground for Chinese intelligence agencies.

The CCP’s actions calls into question whether U.S. institutes of higher education receiving federal taxpayer dollars should be allowed to accept funds from China, the CCP, or other affiliated organizations.

It’s bad enough that the current President of the United States is likely compromised by the Chinese Communist Party. It’s worse that nearly everything he has touched, including the Penn Biden Center, may be compromised as well.

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Joe Biden’s Tax Returns Don’t Explain Millions In Income. Where Did It Come From?
https://thefederalist.com ^ | APRIL 06, 2022 | BY: BOB ANDERSON
Posted on 4/6/2022, 1:49:22 PM by Red Badger

The sources of President Joe Biden’s large income after he left his post as vice president have never been detailed in his tax returns.

In the week prior to the presidential election, I wrote a piece that asked the question, “Where Is Hunter Biden’s Money?” It was an important question then, even more so now. Given the legacy media’s recent validation of Hunter’s laptop that discussed a slice of equity planned for the “Big Guy” in a deal that involved an entity controlled by the Chinese Communist Party (CCP), we should know if any money from it (or other foreign sources) ended up in Joe Biden’s pocket, but we don’t.

Recall that despite then-presidential candidate Biden having bragged that he had released his tax returns with what his team called “a historic level of transparency,” the truth is that he only released his individual returns. Those returns provided no detail regarding the source of most of his income, dollars that flowed to him and his wife Jill by way of S-corporations they set up shortly after his departure from the office of vice president. Those entities, CelticCapri Corp (his) and Giacoppa Corp (hers), contained more than $13 million of the $17 million the couple had reported in income after Biden left office, most of it in the first year (2017).

The same media that ignored Hunter’s laptop has shown a complete incuriosity about these entities, accepting the premise that Joe and Jill raked in $13 million from their book deal to generate their huge increase in income. We simply don’t know if that’s true, though. What we do know is that their book sales were dismal.

Perhaps sensing smoke starting to build just before the election, USA Today published a “fact check” piece that attempted to support that the Bidens earned “$15.6 million … from speaking fees and book deals” in the years 2017 through 2019 and that “more than $10 million of that total income was profits from Biden’s memoir ‘Promise Me, Dad’ and $3 million in profits from Jill Biden’s book.”

Follow the source link provided to that $10 million number, though, and you’ll end up at Joe Biden’s campaign website with financial disclosure links to only their individual returns — no S-corporation tax returns. So, in reality, readers were left with a smokescreen. (Now the financial disclosure links for 2016, 2017, and 2018 have even been changed to connect to a Democratic National Committee fundraising site via ActBlue rather than the tax documents.)

I noted back in 2020 that, “While (Joe Biden’s) financial disclosures reasonably support the $2.7 million of net income reported by CelticCapri in 2018, a notable $8.7 million gap exists between its $9.5 million net income in 2017 and the $809,709 of disclosed income in that year from book tour and related speaking events. Since his disclosure covers only part of 2017, we lack the insight into other income that may explain it.”

To that obvious question, the legacy press simply yawned. But it will become increasingly harder for them to maintain a head-in-the-sand position as more information arises.

Senators Present Proof of CCP Connections

Sens. Chuck Grassley, R-Iowa, and Ron Johnson, R-Wisc., recently showed proof of payments from what they said were CCP-controlled firms “that prove just how connected the Bidens were and how compromised President Biden probably is.” An August 2017 wire receipt showed $100,000 sent from CEFC Infrastructure Investment to Owasco, and a copy of a November 2017 check from CEFC Limited revealed $1 million paid to Hudson West III, LLC. Both recipient entities were tied to the president’s son.

Did any of that money, or other overseas income, go to Joe or Jill? We would know if the president provided a copy of their S-Corp. tax returns with all partner K-1’s that flowed through them. But the only detail we have is aggregate numbers reported on the couple’s individual returns.

2017 Biden taxes

2017

2018 As it stands, we’re left to trust USA Today that Jill grossed $3 million (royalties plus about $700,000 from speaking fees) for a book that sold only 7,000 copies in its first week, and that from that book deal she netted more than $1 million in the two years prior to its release, but only $175,319 in the year it was published (2019). It’s possible an advance was paid, but could a publisher have justified that amount?

2019 The Numbers Don’t Add Up We are told that Joe netted $12.2 million (after expenses) in the same deal for a book that sold 300,000 copies. Excluding the $4.2 million earned from touring and speaking, that yields $8 million of income that we are to assume came from book royalties (higher if we know his gross revenues before expenses).

For analysis purposes, consider that his book had a retail price of $27 for hardcover and $18 for paperback, and assume a reasonable mix of sales so the average price was $23 (with no discounting). On 300,000 books sold, gross revenues would’ve been just under $7 million. As an author, Joe would’ve likely received about 12 percent of that using a blended royalty rate (15 percent hardcover and 7.5 percent paperback typical from publishers), yielding about $800,000 income. Round it up to $1 million if you prefer. Double it. It’s still not close to $8 million.

Sure, he likely got an advance, but would a publisher have advanced that kind of money to an author whose prior work, “Promises to Keep,” sold only 49,000 copies?

So many questions.

Release the Full Tax Returns Rather than ask for proof of sources of income, the media has been stuck in a repeating cycle of reporting about whether Joe and Jill underpaid payroll taxes. That’s a valid question, but it may miss the much larger one: Where did all of that money come from after Biden left office?

To that end, tax returns are a valuable investigative source document. Since the days of Al Capone, the rule has been clear: Don’t ever fail to pay taxes on any income, even if shady. It’s the easiest conviction for a prosecutor. So it’s logical that all income would be reported, and for any potentially over the ethical or legal line, an upstream S-Corporation would serve as the perfect mechanism to obscure it from view.

On a matter of this importance, all possibilities must be fairly considered until proof is established one way or the other. The president may have completely valid sources for all of his income, and if so, he should demonstrate it, particularly given the evidence of foreign money flowing through his son and indirect references to himself.

In releasing Biden’s tax return last year, White House Press Secretary Jen Psaki commented that the “release (of) the president’s tax returns … should be expected of all presidents.” Surely she would agree this means the full set of documents.

If this question involved former President Donald Trump and one of his sons, The New York Times and The Washington Post would already be howling for full disclosure, and they would be right to do so. So perhaps they will join now in saying, “Mr. President, please clear the air of all doubt — release your full tax returns.”

Bob Anderson is a partner and CFO of a hotel development company and a former aerospace engineer who worked on the International Space Station and interned in Reagan’s Strategic Defense Initiative Organization (SDIO) at the Pentagon. He is also a licensed commercial pilot.

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