Hunter Biden still appears to hold an ownership stake in a Chinese government-linked investment firm despite repeated pledges from President Joe Biden that his family would not have any foreign business ties.
The troubled son of Joe Biden still holds a 10% equity stake in Bohai Harvest RST (Shanghai) Equity Investment Fund Management Company, according to Chinese business records. Hunter Biden has reportedly been under criminal investigation as far back as 2018 as federal authorities scrutinize his taxes and potentially his foreign business dealings, and the 51-year-old’s financial transactions with China might be at the forefront.
That’s despite White House press secretary Jen Psaki in February saying the president’s son “has been working to unwind” his 10% stake in the firm.
Through one of his lawyers, George Mesires, Hunter Biden had promised to leave the board of the Chinese firm by the end of October 2019, but his resignation was submitted to China’s National Credit Information Publicity System in the spring of 2020. Three Chinese business websites, run by Baidu, Qixin, and QCC, all show updates with Hunter Biden’s name being removed from the BHR board of directors in April 2020, but the sites also currently show a limited liability corporation, Skaneateles, owned solely by Hunter Biden, as still being a “sponsor/shareholder” with 3 million yuan ($464,000) invested in the company, purportedly comprising a 10% stake in the China-based business venture.