A review of Hunter Biden’s business records reveal the former veep’s son still retains a sizable stake in a Chinese Communist Party-linked private equity firm.
The Wall Street Journal, later confirmed by Fox News, reported that Hunter Biden retains a 10 percent equity stake in Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co. through Skaneateles LLC. Hunter Biden is the sole beneficial owner of Skaneateles, according to corporate records.
The firm was a billion-dollar joint venture between Rosemont Seneca Partners, an investment fund founded by Hunter Biden and Obama-era Secretary of State John Kerry’s stepson in 2009, and the state-owned Bank of China. Bohai Harvest was notoriously birthed less than two weeks after Hunter Biden traveled to China alongside his father.
The financial arrangement also contradicts Joe Biden’s promise that “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.