Who is Eric Schwerin? Oversight Dems confirm Hunter's business partner managed Joe Biden's finances during VP tenure
WASHINGTON, DC: In a recent revelation, House Democrats have acknowledged that Eric Schwerin, Hunter Biden's former business partner and president of Rosemont Seneca Advisors, played a significant role in managing President Joe Biden's finances during his tenure as Vice President from 2009 to 2017.
A spokesperson for the Democrat minority of the House Committee on Oversight and Accountability confirmed that Schwerin acted as a kind of "bookkeeper" for then-Vice President Biden during this period.
"Notably, Mr. Schwerin, who served as then-Vice President Biden’s bookkeeper from 2009 to 2017, explained that he was not aware of any transactions into or out of the then-Vice President’s bank account related to business conducted by any Biden family member," the spokesperson said in a statement.
White House memo
The acknowledgment from House Democrats came to light after Fox News inquired about a section of a memo released by the White House.
The memo was issued in response to House Speaker Kevin McCarthy's announcement of a Republican impeachment inquiry into President Biden, based on what he referred to as "serious and credible allegations" regarding the President's conduct.
The White House memo included a 14-page fact-check addressing various claims made by Republicans throughout their investigation, particularly focusing on President Biden's alleged involvement in his son's foreign business dealings and whether the Biden family leveraged his public office for personal profit.
The memo highlighted statements from individuals, including Eric Schwerin, who asserted that President Biden was not involved in their business dealings.
"Republicans’ own witnesses such as Eric Schwerin, a former business associate of Hunter Biden, said President Biden was not involved in their business dealings," the White House stated on page 13 of the memo.
"In a March 2023 interview with Republican and Democratic Committee staff, Mr. Schwerin told Committee staff he was not aware of any involvement by President Biden in the financial conduct of the President’s relatives’ businesses, much less any transactions into or out of the then-Vice President’s bank account related to business conducted by any Biden family member," the White House added, reportedly citing a paragraph from the Oversight Democrats’ memo in May.
Eric Schwerin’s role in Joe Biden's financial management
A source familiar with Schwerin's role in managing then-Vice President Biden's finances stated that Schwerin was responsible for overseeing Biden's personal budget and coordinating with tax preparers.
This source also noted that given the frequency of Schwerin's communication with Biden and his top aides, it was almost inevitable that discussions about Rosemont Seneca business would arise.
However, the House Oversight Committee's Republican majority contested these claims, asserting that Schwerin had never been interviewed by the committee. They clarified that there was a meeting, but it solely concerned document production and did not involve a transcribed interview or deposition.
In response to this, the committee Democrats' spokesperson vehemently defended their position, stating that Schwerin had indeed been interviewed by committee staff for multiple hours on March 31, 2023, following a request from Representative James Comer.
They pointed out that Schwerin's counsel described this as a "non-transcribed interview," where both Majority and Minority staff had an equal opportunity to question Schwerin regarding his relationship with Hunter Biden and the activities of Hunter Biden's business entities.
Eric Schwerin's role in Hunter Biden's business ventures
Schwerin's lawyer clarified that while he was not technically a "bookkeeper" for the then-Vice President, he did provide assistance with his finances. This distinction may be crucial in understanding the extent of Schwerin's involvement in managing President Biden's financial matters.
Fox News had previously reported on Schwerin's close ties to the Biden family, both on a personal and professional level. He was a key figure in Hunter Biden's expansion into business ventures in China. Peter Schweizer, an expert on Hunter's business dealings, referred to Schwerin as "the money guy."
Furthermore, it was revealed that Schwerin had visited the Obama White House and Vice President Biden's residence on numerous occasions between 2009 and 2016, indicating his proximity to the Biden family's inner circle.
He was also a founding partner and managing director of Hunter's now-dissolved firm, Rosemont Seneca Partners. Notably, Schwerin was appointed in early 2015 by then-President Obama to the Commission for the Preservation of America’s Heritage Abroad, an independent US government agency, further highlighting his involvement in government circles.
Kathleen Buhle, Hunter Biden's ex-wife, disclosed in a memoir in June 2022 that Schwerin had "managed almost every aspect of our financial life."