White House Appears to Confirm Hunter Biden Still Holds Stake in Chinese Private Equity Firm

White House Appears to Confirm Hunter Biden Still Holds Stake in Chinese Private Equity Firm
Hunter Biden arrives to the inauguration of his father, Joe Biden, on the West Front of the U.S. Capitol on Jan. 20, 2021. (Win McNamee/Getty Images)
Allen Zhong
White House press secretary Jen Psaki appeared to confirm that President Joe Biden’s son Hunter still holds a stake in a Chinese private equity firm.

“He has been working to unwind his investment,” Psaki said during a Feb. 5 press conference when asked about Hunter Biden’s stake in Bohai Harvest RST Shanghai Equity Investment Fund Management, commonly known as BHR Partners.

Psaki’s remarks confirmed an early report by the Daily Caller saying the president’s son still holds a stake in the Chinese company.

She then directed reporters to the younger Biden for further questions.

“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.

Hunter Biden didn’t immediately respond to a request for comment from The Epoch Times.

George Mesires, a lawyer who represents the president’s son, said in an Oct. 13, 2019, statement that Hunter Biden intended to resign from the BHR board of directors on or by Oct. 31, 2019.
Business records show that Hunter Biden left the board of directors on April 20, 2020. However, he still holds a 10 percent stake via his company, Skaneateles LLC.

Hunter Biden is the sole beneficial owner of Skaneateles LLC, according to Washington, D.C., corporate records obtained by the Daily Caller.

The president told CNN’s Jake Tapper that his family would refrain from foreign business to avoid conflicts of interests.

“My son, my family will not be involved in any business, any enterprise that is in conflict with or appears to be in conflict, where there’s appropriate distance from the presidency and government,” he said during the Dec. 3, 2020, interview.

According to the assessment of Biden’s top intelligence pick, Hunter Biden’s stake in BHR Partners needs to be put in the crosshairs.

Avril Haines, the director of national intelligence, said during her confirmation hearing that the Chinese Communist Party is an adversary of the United States “on some issues.”

“China is adversarial and an adversary on some issues and, in other issues, we try to cooperate with them, whether in the context of climate change or other things,” she said.

Allen Zhong is a long-time writer and reporter for The Epoch Times. He joined the Epoch Media Group in 2012. His main focus is on U.S. politics. Send him your story ideas: [email protected]