The committee said those companies were formed mostly in Delaware and Washington, D.C., with the help of Hunter Biden’s business partners Rob Walker and James Gilliar.
“After assuming the vice presidency in 2009, records reveal Hunter Biden and his business associates formed at least 15 companies,” the memo said. Those companies include Lion Hall Group LLC; Owasco P.C.; Robinson Walker, LLC; Skaneateles, LLC; Seneca Global Advisors, LLC; Rosemont Seneca Partners, LLC; Rosemont Seneca Principal Investments LLC; Rosemont Seneca Bohai, LLC; Hudson West III, LLC; Hudson West V, LLC; CEFC Infrastructure Investment and others.
“Bank records show the Biden family, their business associates, and their companies received over $10 million from foreign nationals’ companies,” the memo said, adding that the committee identified payments to Biden family members from foreign companies “while Joe Biden served as Vice President and after he left public office.”
“[T]he Biden family used business associates’ companies to receive millions of dollars from foreign companies,” the memo said, adding that the Biden family “received incremental payments over time to different bank accounts.”A shell corporation is a business that is formed that has no actual business operations. They are mostly created for money laundering or sometimes for parking early startup funds. They do not employ anyone or provide any services.
Shell corporations are created in tax havens to avoid paying taxes and to hide the identity of the owner. If an individual is involved in an illegal activity, a shell corporation can be a platform to hide money. A shell corporation can be opened by opening a bank account and buying real estate in a tax haven.