President-elect Joe Biden’s son Hunter still owns a 10% stake in a Chinese private equity firm, less than one month before his father is set to take office, business records reviewed by Fox News show.
The development, first reported by the Wall Street Journal, contradicts Joe Biden’s October 2019 pledge to keep his family free of foreign entanglements if he was elected president.
“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,” the older Biden said at the time.
Chinese business records reviewed by Fox News show that a U.S. company, Skaneateles LLC, owns a 10% equity stake in Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co. Hunter Biden is the sole beneficial owner of Skaneateles, according to Washington corporate records.
Hunter previously sat on the Chinese firm’s board — whose financial backers include the Bank of China — before announcing in October 2019 that he would be stepping down over mounting scrutiny from his father’s presidential bid. – READ MORE
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