The book also claims that in July 2017, Ye's company provided Joe Biden's family with a $5 million interest-free loan.
A book published last month revealed a financial scandal involving US President Joe Biden's family and an associate of the Sinaloa drug cartel as the writer talks about a huge $5 million loan and $80,000 gift to Hunter Biden. Breitbart News reported.
The book by writer Peter Schweizer was published in February with the title Blood money: Why the powerful turn a blind eye as China kills Americans in which the author mentions Ye Jianming's association with the former leader of a Chinese triad called the United Bamboo Gang (UBG) and Zhang Anle or the “White Wolf”.
According to the book, when Biden was vice president, his family partnered with Ye. It is claimed that he is associated with China's ruling party.
“The problem of contentious personal ties when it comes to confronting China over fentanyl extends beyond the Biden family to members of his administration. And so does silence,” Schweizer said.
During the association, the Biden family received monetary benefits and Hunter Biden obtained a three-carat diamond worth $80,000. Additionally, the book also claims that in July 2017, Ye's company provided the Biden family with a $5 million interest-free loan.
CEFC also provided forgivable, interest-free loans to the Biden family, with company executive Zhao Running writing that “$5 million was intended to be money loaned to the BD family, not just Hunter Biden.”
In his book, Schweizer wrote: “Interest-free loans provide tremendous leverage because the lender can demand his money back if an action doesn't please him.”
Joe Biden's son Hunter spoke to Ye “regularly” and Ye helped Hunter “on several of his personal matters,” including unspecified “sensitive things.”
“Joe Biden was outspoken in 1992 when it was revealed that Beijing was involved in heroin trafficking,” Schweizer writes, adding that “but now, with the fentanyl crisis much deadlier, he has fallen silent.”
“When Joe Biden gave the 2023 State of the Union address… he treated it [fentanyl crisis] like a conventional drug problem,” Schweizer said.
He continued: “What he never mentioned was Beijing's hand in the matter. President Biden has been remarkably silent in discussing China's involvement in drug trafficking; he does not question its leadership over its conduct.”
Schweizer noted that he previously reported that “members of the first family received some $31 million in settlements from a small group of Chinese businessmen with deep ties to the highest levels of Chinese intelligence.”
But some of these businessmen who allegedly funneled money to the Bidens “have ties to the fentanyl trade, including $5 million from a Chinese national who was a business partner of a notorious triad leader.”
This “cash flow,” he argues, connects the Bidens to Chinese triad associates.
“Ye and White Wolf together created Shanghai Zhenrong Petroleum Company. White Wolf's gang, UBG, also has a partnership with the Sinaloa Cartel and assists them in the production and distribution of fentanyl in the US.”
“UBG helped turn 'the Sinaloa Cartel into the King of Fentanyl,' according to a Mexican investigation of the cartel,” Schweizer wrote in his book.
White Wolf had been arrested and convicted in the 1980s on drug trafficking and extortion charges in the United States.
The UBG, according to Schweizer, is widely involved in international drug trafficking and has sold heroin in the United States for decades.
It cited a government report that said: “The gang is believed to be active in several cities in the United States, including Chicago, Honolulu, Houston, Miami, Phoenix and several cities in California. The UBG has created a sophisticated network capable of supplying weapons to its members, narcotics and fraudulent identification.”
White Wolf also allegedly has close ties to the Beijing government; Senior Communist Party officials call him “Big Brother.”
“The fact that a Chinese businessman who showered millions on the Bidens is a partner in a criminal syndicate… in the distribution of fentanyl in the United States could be quite shocking. But there is more,” Schweizer wrote.
Schweizer also claimed that Hunter's lawyer, Abbe Lowell, was also the legal representative of Ng Lap Seng, an alleged Chinese triad member who was convicted on bribery charges. Lowell also allegedly represented Qin Fei, accused of being a Chinese intelligence officer, and Lum Davis, who pleaded guilty to illegal lobbying for the Chinese government.
