Hunter still holds a 10% stake in a Chinese private equity firm
White House press secretary Jen Psaki on Monday declined to say whether President Biden’s son Hunter had divested his 10% stake in the Chinese equity firm, though the president urged family members to engage in international business deals. promised to stop.
Sugar Business Record A review by Granthshala News indicates that Hunter Biden still holds a 10% stake in Chinese private equity firm Bohai Harvest RST Equity Investment Fund Management Company through Schneataels LLC. According to Washington Corporate, Hunter Biden is the sole beneficial owner of Skenetails Record.
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“I’ll tell you about his representatives. He doesn’t work in the administration,” Saki told reporters on Monday.
“Again, I told you, and then I guess I have to move on, that you should talk to their representatives,” he later added.
Psaki said in February that Hunter was in the process of unloading its shares.
“He is working to reduce his investment, but I will tell you for sure – he is a private citizen,” she said at the time. “I will point you out to him or his lawyers on any updates.”
This comes after then-candidate Joe Biden said In October 2019 that his family will not engage in business transactions with other countries or foreign corporations.
“Nobody in my family would have an office in the White House, sit in meetings as if they were cabinet members, would, in fact, have any business relationship with a foreign corporation or anyone belonging to a foreign country,” Biden said at the time.
Hunter previously sat on the Chinese firm’s board before announcing in October 2019 that he would withdraw from the growing scrutiny of his father’s presidential bid.
Granthshala News’ Peter Hassan, Yael Halone and Houston Keene contributed to this report.