President Biden’s son has yet to cash out his stake in an investment company funded by the Bank of China and other financial firms owned by the Chinese government, the White House said on Friday.
In response to a question from The Post, White House press secretary Jen Psaki acknowledged that Hunter Biden was still an investor in Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., known as BHR.
“He has been working to unwind his investment but 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,” Psaki said during her daily briefing.
The delay in Hunter’s divestment of his 10 percent share of BHR comes despite his father’s post-election pledge that no relatives would have even the appearance of a conflict of interest with his administration.
“My son, my family will not 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 and government,” Joe Biden told CNN in December.
The vow followed controversy during the 2020 campaign about overseas business dealings by Hunter Biden and other Biden family members, including Hunter’s former seat on the board of Ukrainian energy company Burisma Holdings.
read more here: https://nypost.com/2021/02/05/hunter-biden-working-to-unwind-investment-in-chinese-firm/
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