Frank Biden, former Vice President Joe Biden’s youngest brother, benefited greatly in his business dealings from tens of millions of dollars in taxpayer-funded foreign aid under the Obama administration, according to a new book.
According to Schweizer, Frank Biden became interested in the Caribbean in 2009, when the Obama administration signaled a desire to repair America’s relationship with Costa Rica, which had been strained due to differences with the George W. Bush administration on how to deal with drug trafficking.
Joe Biden played an important role in this effort, making use of ties to the region he developed during his time on the Senate Foreign Relations Committee.
From 2009 to the end of the Obama administration, Frank Biden’s projects in the Caribbean received a total of more than $54 million in loans funded by American taxpayers
Soon after the Obama administration took over, Frank Biden went on the search for real estate in Costa Rica, undaunted by a lack of professional background in international development and a history of legal troubles back in the states.
In spite of the potential setbacks, Frank had no difficulty finding business opportunities, particularly after his older brother visited the country.
Writes Schweizer: “Just months after Vice President [Joe] Biden’s visit, in August, Costa Rica News announced a new multilateral partnership ‘to reform Real Estate in Latin America’ between Frank Biden, a developer named Craig Williamson, and the Guanacaste Country Club, a newly planned resort.”
While this project was officially pitched to investors and the general public as a way of protecting the Latin American country’s “breathtaking beauty,” it was in reality a plan to build a high-class resort for the wealthy.
“In real terms, Frank’s dream was to build in the jungles of Costa Rica thousands of homes, a world-class golf https://rapidloan.net/payday-loans-ky/ course, casinos, and an anti-aging center,” Schweizer continues. “The Costa Rican government was eager to cooperate with the vice president’s brother.”
Though the project is presently still in the development stage, it has made Frank Biden an important figure in Costa Rican politics. A praiseworthy letter about the project penned by the country’s president was published on the Internet in what seemed to be an attempt to gain more investors.
Frank went on to enter into a partnership with the Costa Rican National Power and Light Company (CNFL) for the construction of a solar power complex in the northwest part of the country – right in the vicinity of Frank’s resort. CNFL was willing to work with Frank even though he and his company, Sun Fund Americas, had no energy-sector experience.
“Frank did not have any background in solar energy, but it was quite clear who he was when he pitched the project to investors,” Schweizer observes. “His brother Joe’s name figured prominently in his biography.”
In , the government of Costa Rica signed a letter of intent with Sun Fund Americas for the solar power plant. Also involved in the project was a company called GoSolar, which was specifically earmarked for over $6.5 million in taxpayer-backed loans approved by the Obama administration’s Overseas Private Investment Corporation (OPIC) in 2015.
Clinton Cash author Peter Schweizer details the overlap between Frank Biden’s business ventures and Obama-Biden policy in his latest book Profiles in Corruption: Abuse of Power by America’s Progressive Elite
In a administration announced the creation of the Caribbean Energy Security Initiative (CESI) under the leadership of Joe Biden. The program’s stated purpose was to support energy sustainability projects in that region by backing local works with taxpayer funds.
One of those projects was a 20-megawatt solar plant in Jamaica that was greenlighted for a $47.5 million loan from OPIC. Around the time of that project’s announcement, Sun Fund Americas – Frank Biden’s company – confirmed that it signed a “power purchase agreement to build a 20-megawatt solar facility in Jamaica.”
Schweizer has also written about the Biden’s business ventures in China, Iraq, Kazakhstan, Ukraine, and Russia at a time when Joe Biden was a driving force in American foreign policy in those nations.
The current impeachment trial of President Trump centers around the president’s request that his Ukrainian counterpart look into the Bidens’ allegedly corrupt business dealings in that country.