We've previously written about the $3.5 million that the company, Rosemont Seneca Thornton, was awarded by Yelena Baturina, who was the spouse of the previous Moscow mayor, in exchange for a “consultancy fee.” Rosemont Seneca Thornton is an association formed by Hunter's investment firm, Rosemont Seneca, and the Thornton Group, a Boston-based company.
The transfer in 2014 was examined in a report for 2020 ordered by Senate Republicans looking into Hunter's links to Ukraine after the transfers of Baturina were identified in suspicious activity reports submitted by banks for the Treasury Department.
The lawyer for Hunter, George Mesires, denied Biden's son made money from the deal and told CNN that “Hunter Biden had no interest in and was not a co-founder of Rosemont Seneca Thornton, so the claim that he was paid $3.5 million is false.”
It's not known where the $3.5 million went. The Senate report stated that the company was founded by Hunter Biden.
There are now emails informing us that there was more to the story. The most notable is the $40 million investment into Hunter's business, Rosemont Realty. Baturina's older brother, Viktor Baturin said it was “a payment to enter the American market.”
In 2012, Hunter's business was able to execute the $69.7million plan to acquire 2.15million square feet of offices across seven US cities.
The documents that outline the plan stated the funds came from a variety of shareholders, with a total of $40 million in funding from Inteco Management AG, a Swiss company that is owned by Baturina.
Inteco Group is a construction and plastics giant which created Baturina, the most successful woman in Russia, in the year 2000. Her total worth of $1.4 billion is an estimation by Forbes.
The emails regarding the Inteco investment were obtained through the leak of the Kazakhstani Initiative on Asset Recovery, an anti-corruption organization. Hunter's associate at Rosemont Realty, Devon Archer, was in contact with Kenes Rakishev, a Kazakh businessman, to convince the Kazakh businessman to make an investment.
“Inteco, who I know you know, is taking a significant equity piece … We'd love to have you on board,” Archer wrote in an email to Rakishev.
“I know you mentioned you were less interested in real estate but this is a deal we're closing next month and it's just too attractive not to share.”
Archer set out the details in a document.
The document states that the seven offices will be acquired through a partnership formed in March 2012 and states that the company has signed contracts for acquisition of property with a value of $212,580,000.
The deal included around $52 million cash and $100 in loans.
Rosemont Realty was putting up at least $15 million of its own money along with Baturina's investment, along with other investors according to the document.
The Managing Partnership will receive a total of $69,700,000 by the other partners. The Managing General Partner must invest at least $15 million of capital shares in the same terms and conditions as the other members of the Investment Partnership,' the approximate Russian translation reads.
Rakishev was among those who were photographed during an evening dinner with Hunter and Joe Biden at Cafe Milano. Baturina was also invited to dinner, but she didn't attend.
The New York Post has sources who claim there was more than the $40 million in a single deal; however, there were more than $100 million made by Baturina through Rosemont Realty.
The FBI is believed to be investigating Hunter Biden over taxes and possible gun violations. It's unclear how much they're investigating the foreign transactions and the biased nature of whistleblowers who have been exposed generally, and, in this particular case, there has been speculation that they may come to a compromise on some small issues that don't have any bearing on the issue of Joe Biden or the foreign transactions.
