WSJ: Hunter Biden Still Owns 10 Percent Stake in Chinese Private Equity Firm
Hunter Biden, the son of President-elect Joe Biden whose finances are being investigated by the U.S. attorney general’s office in Delaware, still holds a 10% ownership stake in a Chinese private equity firm, reports The Wall Street Journal.
The report says Skaneateles LLC, a company owned by Hunter Biden, still owns the stake in Bohai Harvest RHT Equity Investment Fund Management Co., which is primarily funded by Bank of China Ltd., and other big government financial firms.
Joe Biden earlier this month told reporters Hunter wouldn’t be involved “in any business, any enterprise that is in conflict with or appears to be in conflict with where there’s appropriate distance from the presidency.”
"No one in my family will have an office in the White House, will sit in on meetings as if they are a cabinet member, will, in fact, have any business relationship with anyone that relates to a foreign corporation or a foreign country," Joe Biden said at the time.
A source close to Hunter Biden told Fox News the President-elect’s son was still in the process of offloading the ownership.