A real estate company with ties to first son Hunter Biden received more than $100 million from a Russian billionaire for real estate investments in the U.S. dating back a decade, sources told the Post.
The hefty infusions of cash into Rosemont Realty came from Elena Baturina – one of Russia’s richest women, the widow of the former mayor of Moscow and a close ally of Moscow tyrant Vladimir Putin, the sources said.
According to a source with knowledge of the transactions, Baturina paid Rosemont at least $40 million in a portfolio deal to invest in office buildings across the country.
That money went toward the purchase of seven office buildings in Texas, Colorado, Alabama, New Mexico and Oklahoma in 2012, DailyMail.com confirmed in emails related to the deal.
The investment reportedly came from Inteco Management AG – the Swiss company owned by Baturina.
This isn’t the first time President Biden’s 52-year-old son has been linked to Baturina, whose late husband Yuri Luzhkov was the Russian capital’s mayor for more than 18 years before being sacked by then-President Dmitry Medvedev in 2010.
Baturina, who has an estimated net worth of $1.4 billion, had deposited $3.5 million into a bank account owned by Rosemont Seneca Thornton in 2014 – a consortium formed by Hunter’s investment firm Rosemont Seneca and Boston-based Thornton Group exists.
Rosemont Seneca Thornton, like Rosemont Realty, is a spin-off of Rosemont Capital Partners, a private equity firm co-founded by Hunter Biden and Chris Heinz, stepson of former Secretary of State John Kerry and son of the late Pennsylvania Senator John Heinz.
The 2014 transfer was later investigated in a 2020 report commissioned by Senate Republicans examining Hunter’s ties to Ukraine after Baturina’s transfers were included in reports of suspicious activity filed by banks to the US Treasury Department were, had been marked.
Hunter’s attorney, George Mesires, denied that Biden’s son benefited from this transaction, telling CNN at the time: “Hunter Biden had no interest in Rosemont Seneca Thornton and was not a co-founder of Rosemont Seneca Thornton, hence the allegation that he had 3 .5 million dollars were paid, wrong .”
The GOP report — overseen by Sens. Ron Johnson (R-Wis.) and Chuck Grassley (R-Iowa) — described Baturina’s involvement in Hunter as “a financial relationship,” but didn’t elaborate on why the transfer was made.
The question of who pocketed the $3.5 million has never been resolved.
In April 2014, less than two months after the transfer, Hunter and then-business partner Devon Archer met with Baturina at Villa d’Este — a well-known haunt of Russian oligarchs overlooking Lake Como in Italy.
Baturina’s name also surfaced that same month in connection with a possible real estate deal in New York’s Chelsea neighborhood and a Latin American cocoa company, according to emails uncovered by Hunter’s infamous laptop.
Although Biden has denied ever discussing his son’s business dealings, in April 2015 he attended a dinner at Cafe Milano in Washington DC with his son’s business associates.
Baturina and Luzhkov, who died of complications from heart surgery in 2019, were invited to the dinner, according to a copy of the guest list Hunter emailed to Archer three weeks earlier.
While the notes on the laptop don’t make it clear if Baturina ended up at the dinner, Archer had emailed Hunter ahead of the event to say she didn’t want to attend.
“Yelena doesn’t want to steal Yuris [sic] Donner so she will be in town to meet us but won’t be coming to dinner,” Archer wrote on March 20. “Those were just her thoughts. We could insist.”
Baturina is one of the few Russian oligarchs to escape sanctions since Moscow’s February 24 invasion of Ukraine, a fact that caught the attention of GOP lawmakers earlier this year.
“If the United States avoids sanctioning certain Russian oligarchs over fears that they may attempt to influence American politics by exploiting Hunter Biden’s connection to his father – the President of the United States – the American people deserve to hear about it,” a group of 19 House Republicans wrote to Treasury Secretary Janet Yellen in April.
The emails detailing Baturina’s $40 million real estate investment came from a leak obtained by the Kazakh Asset Recovery Initiative, an anti-corruption group focused on the former Soviet republic.
The messages were exchanged between Archer and Kenes Rakishev – a Kazakh businessman who was photographed having dinner at Cafe Milano with Hunter and Joe Biden.
“Inteco, which I know you know, is making a significant equity investment… We’d love to have you on board,” Archer wrote in an email to Rakishev.
“I know you mentioned you’re less interested in real estate, but this is a deal we’re going to close next month and it’s just too attractive not to share.”
Hunter’s attorneys did not immediately respond to the Post’s request for comment.