On Friday, Jason Galanis, a former business associate of Hunter Biden, testified from prison with some extremely damning revelations, including that Joe Biden's involvement in the business would bring "political access in the United States and around the world."
There was no ambiguity in Galanis's testimony, and he made it very clear that Hunter Biden brought one thing of value to the business.
"The entire value-add of Hunter Biden to our business was his family name and his access to his father, Vice President Joe Biden. Because of this access, I agreed to contribute equity ownership to them – Hunter and Devon [Archer] – for no out-of-pocket cost from them in exchange for their 'relationship capital,'" Galanis testified.
Fox News Digital obtained exclusive access to his opening statement.
Galanis said he worked with Devon Archer and Hunter Biden between 2012 and 2015. Their business together, he said, included the acquisition of Burnham & Co, a division of Drexel Burnham Lambert, combined with "other businesses in insurance and wealth management." Galanis testified the three "owned and acquired with total audited assets of over $17 billion."
"Our objective was to build a diversified private equity platform, which would be anchored by a globally known Wall Street brand together with a globally known political name," Galanis testified. "Our goal — that is, Hunter Biden, Devon Archer and me — was to make billions, not millions."
Galanis testified that "the entire value-add of Hunter Biden to our business was his family name and his access to his father, Vice President Joe Biden.
"Because of this access, I agreed to contribute equity ownership to them — Hunter and Devon — for no out-of-pocket cost from them in exchange for their ‘relationship capital,’" he told investigators.
Hunter Biden served as vice chairman of the Burnham group, and, according to Galeris, "brought strategic relationships to the venture, including from Kazakhstan, Russia and China."
"Burnham was the focal point for integrating a ‘Biden family office’ into a large-scale financial company with international influence," Galanis explained.
He also said that Joe Biden considered joining the board of a CCP-linked company.
Galanis testified that, in 2014, he "agreed with Hunter and Devon that the Burnham & Company enterprise would be significantly enhanced by forming a partnership with Harvest Fund Management, a $300 billion Chinese financial services company closely connected to the Chinese Communist Party." Harvest, at that time, had already agreed to be a founding partner of BHR Partners, he explained.
Fox News Digital has previously reported that Joe Biden met with Jonathan Li, who worked for BHR Partners, in China in 2013.
Galanis explained that Henry Zhao, the director of Harvest, was a contact of Hunter Biden’s.
"Mr. Zhao was interested in this partnership because of the game-changing value-add of the Biden family, including Joe Biden, who was to be a member of the Burnham-Harvest team post-vice presidency, providing political access in the United States and around the world," Galanis testified.
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