Newly released documents reveal that as early as 2016, the Federal Bureau of Investigation (FBI) was aware of Hunter Biden and his associates’ intentions to establish a new business venture in Liechtenstein. The venture, referred to as Burnham Energy Security LLC, was to be capitalized with a $120 million investment from Mykola Zlochevsky, the controversial owner of the Ukrainian energy firm Burisma Holdings.
The massive deal was part of a trove of 3.39 million documents seized during an FBI investigation of securities fraud involving Hunter Biden and his partners nearly a decade ago. Only recently did Devon Archer, Hunter Biden’s former business partner, turn these documents over to the House Oversight Committee amid an impeachment inquiry into Joe Biden‘s conduct.
ACCESS TO JOE?
This large-scale investment plan was being organized during the period when Hunter Biden served on Burisma‘s board and Joe Biden was vice president overseeing U.S. policy in Ukraine. According to the documents, Zlochevsky intended to invest $120 million over three years to transform Burisma into a global energy leader. Hunter Biden was poised to serve on the board of Burnham Energy Security LLC, which would have received 25 percent of the new venture’s net revenues without any financial investment.
The documents were not found in Hunter Biden’s infamous laptop nor mentioned during the 2019 impeachment proceedings involving Ukraine. Vadym Pozharskyi of Burisma communicated the necessity of Hunter Biden’s involvement for “credibility” reasons in an email to Archer in August 2015. Pozharskyi wrote that for Ukrainian purposes, Hunter Biden’s participation would bolster credibility.
NO DEAL IN THE END.
However, the deal faced unexpected hurdles in September 2015 when Jason Galanis, a business associate, was arrested in a securities fraud case. On the same day, then-U.S. ambassador to Ukraine Geoffrey Pyatt pressured Ukrainian prosecutors to pursue corruption charges against Zlochevsky. Burisma quickly sought help from U.S. lobbying and public relations firm Blue Star Strategies to mitigate the fallout. No evidence, however, suggests that the Burnham Energy Security deal was revived after these events.