A member of Biden’s premature transition team, Don Graves is responsible for three million taxpayer dollars going to a firm connected to Hunter Biden. That money was lost forever. Hunter Biden’s firm Rosemont Seneca Technology and Hawaii Strategic Development Corporation (HSDC). The fund that was created was meant to provide money for technology-based startups in Hawaii.
Biden’s company and the HSDC both put up $5 million to start then fund but $3 million that was provided by the HSDC cane from Treasury Department’s State Small Business Credit Initiative. That agency was headed by Don Graves. Shortly after that, Graves was promoted to working in Joe Biden’s offices when he was vice president.
Since that time Graves and Biden became friends and they intertwined themselves ever since. Graves is on Biden’s premature transition team. Will transition money end up in Hunter’s pocket? Why not? He knows as much about the transition as he knows about oil and gas or Ukraine. That should qualify him as long as he remembers to kick back some to The Big Guy.
Biden’s firm was forced to withdraw from the agreement after several high ranking employees, including partner Devon Archer were charged with fraud from various other dealings. The HSDC folded shortly thereafter. The first two grants from the HSDC went to companies owned by Arben Kryeziu and Nick Bicanic, who were tasked with overseeing the fund.
Both companies who received then funds failed One went bankrupt and then second ran afoul of the Securities and exchange commission.
The scandal only grew when the company owned by Bicanic went under, without ever reporting a profit, and Kryeziu fell afoul of the Securities and Exchange Commission. HSDC, which initially saw mbloom as an opportunity to diversify Hawaii’s service-centered economy, stepped in to stabilize the fund.
Those efforts proved futile, especially when Archer was indicted for defrauding a Native American tribe in May 2016. The charges against Archer stemmed in part from allegations that he and a business associate conspired to use tribal bonds under their control to drive up the stock price of Code Rebel, a technology company also owned by Kryeziu.
In the aftermath of the indictment, RST Partners agreed to give up its stake in mbloom to an investor lined up by HSDC. It remains unclear if Hunter Biden’s firm recouped its initial five-million-dollar investment.
Despite hopes of salvaging mbloom, further investment never materialized. In June 2016, HSDC opted to shutter the fund in an effort to prevent any more tax dollars from going to waste.
The Biden campaign did not respond to requests for comment on this story.
You can expect to see more of Joe Biden’s fingerprints in every money-making scheme Hunter becomes involved with. The only difference is the price goes up if Biden becomes president.