During Joe Biden’s tenure as vice president, his former business associate and accountant, Eric Schwerin, managed Biden’s personal finances without charge.
This arrangement was initiated around 2009, at the outset of Biden’s vice presidency. Schwerin, who also worked closely with Hunter Biden, testified before the House Oversight and Judiciary Committees about his involvement in both Biden’s and Hunter’s financial matters.
Schwerin stated that the decision for him to manage Joe Biden’s finances stemmed from discussions among himself, Hunter Biden, and the Vice President. He was entrusted with responsibilities such as overseeing bill payments, tax preparations, and financial disclosures for Joe Biden. Additionally, Schwerin had access to Joe Biden’s personal bank account and managed some of Hunter Biden’s accounts as well.
Despite his extensive involvement in the Bidens’ financial affairs, Schwerin testified that he never discussed compensation for his services.
He viewed his assistance to Joe Biden as a favor to Hunter, whom he had known since their time working together during the Clinton administration. Schwerin emphasized that his work for Joe Biden was separate from his duties at Rosemont Seneca Partners, a firm he co-founded with Hunter.
Throughout Biden’s vice presidency, Schwerin visited the White House approximately 30 times, primarily to assist Joe Biden with financial matters. He also facilitated access to the White House for acquaintances and helped arrange tours.
Schwerin’s relationship with Hunter Biden soured in 2017 amid Hunter’s personal struggles. Their financial partnership ended in 2019, with no further communication between them. After parting ways with Schwerin, Hunter focused on business ventures in China and Romania.
Schwerin maintained in his testimony that Joe Biden was not involved in Hunter’s business dealings, including lucrative contracts with companies like Burisma Holdings, CEFC China Energy, and individuals like Gabriel Popoviciu. However, these dealings are under scrutiny as part of the impeachment inquiry into President Biden’s alleged involvement in his family’s business affairs.
Furthermore, the financial transactions between Joe Biden and his brother James are also under investigation. James Biden wrote checks to Joe Biden, allegedly as loan repayments, but documentation for these loans is unclear. Schwerin stated that he was not aware of any loans between the Bidens based on his knowledge of Joe Biden’s finances up to 2017.
Schwerin’s testimony provides insight into the financial aspects of the Biden family’s activities but does not directly implicate Joe Biden in any wrongdoing. However, it contributes to ongoing inquiries into potential conflicts of interest and financial improprieties involving the Biden family.
