Hunter Biden hasn’t divested the 10 per cent he owns in a Chinese-run investment fund

Hunter Biden has still not divested the 10 per cent he owns in a Chinese-run investment fund despite his father’s promise he would not risk any conflicts of interest

• Hunter Biden has still not divested the 10 per cent he owns in a Chinese investment fund 
• The Wall Street Journal reported this week that a Delaware LLC Hunter Biden controls still owns 10 per cent of Bohai Harvest RST 
• The Bank of China, a state-owned entity, as well as other Chinese government financial firms funded BHR 
• President-elect Joe Biden again pledged in early December that Hunter Biden would have no business dealings that could present a conflict of interest 
• Fox News Channel reported Wednesday that Hunter Biden was in the process of offloading his stake  

By Nikki Schwab, Senior U.S. Political Reporter For Dailymail.com

Published: 20:15 GMT, 24 December 2020 | Updated: 20:21 GMT, 24 December 2020

Hunter Biden has still not divested the 10 per cent he owns in a Chinese investment fund, despite President-elect Joe Biden promising that his son would not be involved in any business dealings that could present a conflict of interest. 

‘My son, my family will not be involved in any business, any enterprise, that is in conflict with or appears to be a conflict, with the appropriate distance from, the presidency and the government,’ the president-elect vowed during a CNN interview earlier this month. 

The Wall Street Journal reported this week that a Delaware-registered corporation called Skaneateles LLC, which is controlled by Hunter Biden, still owns a 10 per cent stake in Bohai Harvest RST.  

Hunter Biden still has not divested the 10 per cent he owns in a Chinese-run investment firm, The Wall Street Journal reported 

President-elect Joe Biden promised that Hunter Biden would not be involved in any business dealings that could present a conflict of interest 

The newspaper said it would be possible for Hunter Biden to sell his stake in BHR, but it would be complicated because the firm owns a number of unlisted assets and thus the value would be hard to ascertain. 

Fox News Channel reported that Hunter Biden is in the process of offloading his stake.  

Hunter Biden pledged in October 2019 that he wouldn’t serve on any foreign boards if his father won the 2020 presidential election. 

The statement stopped short on pledging full divestment from foreign entities. 

But he did resign from the BHR board at that time.  

Hunter Biden made the promise in the run-up to President Donald Trump’s impeachment over a scheme to have the Ukrainian president announce an investigation into Hunter and Joe Biden, while the Trump administration held up $400 million in Congressionally approved military aid.  

Hunter Biden’s business dealings in Ukraine, where he sat on the board of energy company Burisma, and also China had opened up his father to political attacks. 

An investigation from the Republican-led Senate found no evidence that Joe Biden had influenced U.S. foreign policy to benefit his son. 

But the December 9 announcement from Hunter Biden that he was under investigation by the federal government over his taxes put renewed attention on his foreign deals. 

When BHR was formed in 2013, Hunter Biden joined on as an unpaid director. 

BHR was funded by the Bank of China, a state-owned entity, as well as other Chinese government financial firms.   

In October 2017, after his father left office, Hunter Biden became a shareholder in BHR, according to regulatory filings in China that the Journal found. 

A statement from Hunter Biden’s lawyer last year to the newspapers said that he ‘has not received any return on his investment’ in BHR.  

The Biden-Harris transition has yet to respond to DailyMail.com’s request for comment.

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