Hunter still owns 10% of Chinese private equity firm 24 days into Biden’s presidency
Andrew Kerr, DCNF
Hunter Biden continues to hold a 10% equity stake in a Chinese private equity firm 24 days into his father’s presidency, business records show.
Hunter Biden holds his stake in BHR Partners through his company, Skaneateles LLC, according to business records from China’s National Credit Information Publicity System.
President Joe Biden promised on multiple occasions during his presidential campaign that no one in his family would be engaged in foreign business if he won his election.
White House Press Secretary Jen Psaki confirmed last Friday that Hunter Biden still held a position in BHR and was in the process of divesting from the firm.
“He has been working to unwind his investment but I would certainly point you — he’s a private citizen — I would point you to him or his lawyers on the outside,” Psaki said.
However, Hunter Biden’s lawyer George Mesires has not responded to numerous inquiries from the Daily Caller News Foundation asking when he expects to be divested from BHR and whether he will receive any return on his $420,000 initial investment in the firm.
Both the Daily Mail and Fox News reported in late December that Hunter Biden was in the process of divesting from BHR. Both outlets cited an unnamed source with knowledge of his business dealings.
BHR is co-owned by the Chinese state-controlled Bank of China and manages the equivalent of $2.1 billion in assets, according to its website.
Mesires said in October 2019 that Hunter Biden had not received any return on his investment into BHR. However, emails located on a copy of Hunter Biden’s alleged laptop show that he was told on multiple occasions to expect to receive significant payments from BHR starting in 2019.
The White House did not return a request for comment.
For licensing opportunities of our original content, please contact firstname.lastname@example.org.