Hunter Biden still owns a 10% stake in a Chinese private equity firm, less than a month before his father, President-elect Joe Biden, took office, the business records reviewed by Fox News show.
Joe Biden promised in October 2019 that his family members would not be involved in foreign affairs if he were elected president.
“Nobody in my family will have an office at the White House, attend meetings as if he were a cabinet member, will, in fact, have any business relationship with anyone who relates to a foreign company or a foreign country,” Joe Biden said in season.
Chinese business records analyzed by Fox News on Wednesday show that an American company, Skaneateles LLC, has a 10% equity stake in Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co.
Hunter Biden is the sole beneficiary owner of Skaneateles, according to Washington corporate records analyzed by Fox News on Wednesday.
HUNTER BIDEN’S FAMILY NAME HELPED BUSINESS WITH FOREIGN TYCOONS
Hunter Biden’s continued stake in BHR was first reported by the Wall Street Journal on Tuesday evening. BHR’s financiers include the Bank of China, according to the Journal.
Hunter had previously served on the Chinese company’s board before announcing in October 2019 that he would step down.
A source close to Hunter told Fox News that he is still getting rid of his stake in the Chinese investment firm. The Biden transition team did not return an email requesting comments on this article.
Hunter Biden revealed on December 9 that his “tax affairs” are under federal investigation.
HUNTER BIDEN’S BUSINESS NEGOTIATIONS IN CHINA THAT RAISE THE PROBE UNTIL 2018 DETAILED IN THE SENATE REPORT
“I learned yesterday for the first time that the US Attorney’s Office in Delaware informed my attorney, also yesterday, that they are investigating my tax affairs,” said Hunter Biden in a statement at the time. “I take this matter very seriously, but I am confident that a professional and objective review of these matters will demonstrate that I have dealt with my matters in a legal and appropriate manner, including with the benefit of professional tax advisers.”
HunterBiden is a “subject / target” for a grand jury investigation, a well-placed government source told Fox News. A “target” means that there is a “high probability that the person has committed a crime”, while a “subject” is someone you “don’t know for sure” has committed a crime, according to the source.
Joe Biden is not the subject of any grand jury investigations at this time, the source added.
Fox News’ Brooke Singman and Jacqui Heinrich contributed to the report.