Hunter Biden, son of Joe Biden.
Chinese business records recently revealed that President Joe Biden’s son, Hunter Biden, continues to hold a 10 percent stake in Chinese private equity firm BHR Partners. And in December 2020, two U.S. media outlets both reported that Hunter had broken away from the firm.
The Daily Mail and Fox News both reported in late December 2020 that Hunter was selling his stake in BHR. And both outlets cited anonymous sources who do business with Hunter.
However, as of Wednesday (Jan. 27, 2021), Hunt continues to hold a stake in BHR through Skaneateles LLC, a U.S. company in his name, according to mainland China’s Qixinbao and Baidu. Qixinbao and Baidu are two independent service companies that provide business records about Chinese companies under China’s National Credit Information Disclosure System.
Hunter is the sole beneficial owner of Skaneateles LLC, according to corporate records in Washington, D.C. BHR, in turn, manages the equivalent of $2.1 billion in assets and is jointly owned with Bank of China, a Chinese state-controlled company.
Hunt’s attorney, George Mesires, did not respond to any requests for comment on the matter, nor did he confirm whether his client Hunt is selling his shares in BHR and when he expects the process to be completed.
In an October 2019 statement, Mesires said Hunter has not received any return on his investment in BHR. He also said in that statement that Hunter was resigning from his position on BHR’s board, a move for which Biden praised him at the Time as a sign that “he’s the kind of guy who has integrity.”
But as previously reported by the Daily Caller News Foundation (DCNF), emails in a copy of Hunter’s laptop show that his business partner, Eric Schwerin, told him repeatedly that he would receive large payments from the company starting in 2019.
Schwerin told Hunter in a December 2018 email that he could expect the Chinese company to generate revenue for him “for years to come.”
DCNF previously reported that BHR’s business records would be updated six months later, in April 2020, to reflect that Biden had left the company’s board, yet Hunt still owns 10 percent of the company to date.
Biden campaigned on a promise that he and his Family would unambiguously disassociate themselves from foreign business if he were elected president. No one in our family will have an office in the White House, will not attend meetings like a member of the Cabinet, in fact, or have a business relationship with a foreign company or anyone with ties to a foreign country,” Biden told reporters in Iowa. It’s over, it’s over, the story is over.”
Biden reiterated his commitment again in December 2019, when he told Axios News on HBO about his family’s foreign business dealings. He said his family would not engage in any more foreign business, depending on his administration’s attitude.
Hunter revealed in December 2020 that he was told federal prosecutors were investigating him for “tax problems. And several U.S. news outlets have reported that investigators are looking into whether Hunt’s foreign business dealings in China and elsewhere violated anti-money laundering laws.
A White House spokesman has not yet returned a request for comment on the news.
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