Mr. Joe Biden broke his campaign promise that his son and family would not be involved in any business enterprise that conflicts with the presidency.
Joe Biden's son, Hunter, did not sell his stake in an investment company affiliated with the Beijing government, the White House admitted. According to the sources close to the firm that The Owner interviewed Mr. Biden is still involved in some firm's management issues.
Hunter Biden owns a 10 per cent stake in Bohai Harvest RST Equity Investment Fund Management Co., also known as BHR. He has repeatedly pledged to divest his shares but that hasn’t happened yet, said White House press secretary Jen Psaki.
BHR is a billion-dollar investment fund backed by Communist China that was formed in 2013 by Hunter Biden and Chris Heinz, the stepson of then-Secretary of State John Kerry. Communist China's government entity also teamed up with BHR in 2015 to buy Henniges Automotive, a U.S. car technology company with potential military applications. The deal was approved by the Obama administration.
The deal got fresh scrutiny in September 2019 from Sen. Chuck Grassley, an Iowa Republican who at the time chaired the Finance Committee. His inquiries so far failed to reveal wrongdoing. Instead, Republican Senator had found itself under the concerted attack of the mainstream media.
Elder Biden broke his campaign promise
The news that Hunter Biden still owns a stake in the firm also comes after his father promised that no relatives — including Hunter Biden — would have even the appearance of a conflict of interest.
My son, my family will not be involved in any business enterprise that is in conflict with or appears to be in conflict with where there’s appropriate distance from the presidency and the government, the elder Biden told CNN in December.
Hunter Biden served as an unpaid director of BHR when it launched in 2013 and then paid $420,000 in October 2017 to become a shareholder, The Wall Street Journal reported in December.