Hunter Biden, son of President Joe Biden, still holds equity in an investment firm that has invested in Chinese companies sanctioned by the U.S.
Records show Hunter Biden still has a 10% stake in Bohai Harvest RST Equity Investment Fund Management Company, a joint venture between Biden’s Rosemont Seneca firm and a state-backed Chinese firm.
As part of its investment strategy, the BHR fund reportedly channeled money to a Chinese technology company accused of assisting in the Chinese Communist Party’s human-rights abuses against Uyghur Muslims.
It also invested in a nuclear company that allegedly conspired to steal U.S. nuclear technology for China.
Both Megvii Technology and the state-owned China General Nuclear Power Group have been sanctioned by the U.S. government.
Despite this, and despite the Democrat president’s promise not to allow his family members to have any foreign business ties, Hunter Biden continues to hold his seat on BHR’s board.
“My son, my family will not be involved in any business enterprise that is in conflict with or appears to be in conflict with where there’s appropriate distance from the presidency and the government,” Joe Biden claimed during the 2020 presidential election.
In February, White House press secretary Jen Psaki insisted Hunter Biden was trying to distance himself from BHR.
“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 on any update,” she said at the time.
Hunter Biden is currently being investigated by federal authorities for potential tax fraud and money laundering. The investigation might also cover Hunter Biden’s foreign business dealings, including his transactions with China.
Earlier this year, Hunter Biden claimed he is “100% certain” he will be cleared of any wrongdoing when the Justice Department investigation is completed.
I’m cooperating completely. And I’m absolutely certain—I’m 100% certain—that at the end of the investigation, I will be cleared of any wrongdoing,” he said. “And all I can do is cooperate and trust in the process.”
