White House Press Secretary Jen Psaki confirmed during a press briefing Friday that the president’s son continues to own a 10 percent stake in the Bohai Harvest RST Equity Investment Fund Management Co. – despite President Biden’s October pledge that his family would be free of foreign dealings.
"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," Joe Biden Hunter Biden stepped down from the board of BHR Partners after his father received increased scrutiny during his presidential bid and has emphasized that his involvement with the company started after Joe Biden was no longer vice president...
"Hunter neither played a role in the formation or licensure of the company, nor owned any equity in it while his father was Vice President," his attorney, George Mesires, said in a 2019 . "He served only as a member of its board of directors, which he joined based on his interest in seeking ways to bring Chinese capital to international markets."Hunter Biden invested $420,000 in October 2017 and attained a 10 percent equity position in BHR Partners.
"Under a Biden Administration, Hunter will readily comply with any and all guidelines or standards a President Biden may issue to address purported conflicts of interest, or the appearance of such conflicts, including any restrictions related to overseas business interests," Mesires added. "In any event, Hunter will agree not to serve on boards of, or work on behalf of, foreign owned companies.