Politics
Chinese Firm Updates Records To Remove Hunter Biden From Its Board, But He Still Owns 10% Of The Company
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The Chinese private equity firm BHR Partners updated its business records on April 20 to remove Hunter Biden as a member of its board of directors, but he continues to hold a 10% ownership stake in the company through his LLC, Chinese business records show.
Hunter Biden’s departure from BHR’s board was submitted to China’s National Credit Information Publicity System (NCIPS) more than six months after he pledged to relinquish his position with the firm “on or by October 31,” according to Qixinbao and Baidu, two independent services that provide registration information on Chinese corporations based on NCIPS filings.
The records also show that Hunter Biden continues to hold a 10% equity stake in BHR through his company, Skaneateles LLC, as of Friday, a position he maintains despite a pledge in December from his father, former Vice President Joe Biden, that none of his family members would “be engaged in any foreign business” if he is elected president in November.
The Biden campaign did not respond when asked if the candidate will call on his son to relinquish his equity stake in the Chinese private equity firm.
BHR manages the equivalent of $2.1 billion in assets, according to its website. Hunter Biden began serving as an unpaid member of BHR’s board when it was founded in 2013, and in October 2017 he obtained his equity stake in the firm with a $420,000 investment, according to a statement issued by his lawyer, George Mesires, in October.
BHR’s business records with the NCIPS were updated on April 20 to reflect Hunter Biden’s departure from its board less than one week after the Daily Caller News Foundation reported on April 14 that his name was still listed as a member of the firm’s board at the time and that no evidence had yet surfaced to prove that Biden had actually relinquished his position with the company.
In response to that report, Hunter Biden’s lawyer, George Mesires, released a one-sentence letter he received from BHR CEO Jonathan Li dated April 17 stating that Hunter Biden “no longer serves as an unpaid director on the board of Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd. effective from October 2019.”
Mesires provided the letter to Washington Post reporter Glenn Kessler, who tweeted that Hunter Biden’s continued presence on BHR’s business records with the Chinese government at the time was due to “an apparently outdated database entry.”
Trump folks pushing a line that Hunter Biden never resigned from board, citing an apparently outdated database entry. (https://t.co/Rc6YadEK61) Now Hunter Biden’s lawyer has obtained letter confirming he did resign in October, as originally reported. https://t.co/wWRlYLgLYg pic.twitter.com/jvSjBHoVrL
— Glenn Kessler (@GlennKesslerWP) April 17, 2020
Li’s letter did not specify the exact date in October that Hunter Biden ceased serving as an unpaid director of BHR. Mesires has refused multiple requests by the DCNF for a copy of Hunter Biden’s actual letter of resignation from the firm’s board.
Mesires did not respond when asked if Hunter Biden intends to relinquish his 10% equity stake in BHR.
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