White House press secretary Jen Psaki on Friday reflected on why President Biden’s son Hunter Biden still has an investment in a Chinese company.
Asked at a White House press conference whether she had an update on Hunter Biden’s sale of his 10 percent stake in Chinese private equity firm BHR Partners, Psaki referred a reporter to Biden’s younger lawyers.
“He worked to shut down his investment,” Psaki said, adding, “as a private citizen, I will point out to him or his outside lawyers any update.”
In December, Biden assured voters that he and his family would not be involved in any business transactions that apparently clashed with the president’s office.
“My son, my family will not be involved in any business, any business that is contrary to the right distance from the presidency and the government,” Biden said during a CNN appearance.
Hunter Biden was reportedly selling some of his stake in BHR at the end of December, but it appears he retained his investment through his company, Skaneateles LLC, last week.
BHR, whose largest shareholder is the Chinese government-held Bank of China, has invested about $ 2.1 billion.
Hunter Biden was scrutinized last year for his lucrative position on the board of directors of Ukrainian natural gas company Burisma. In leaked emails from 2014, it appears that Biden is trying to exploit his influence with his father, then Vice President Joe Biden, who was strongly involved in US policy on Ukraine, and has Elder Biden as ‘my guy’ named.
He also drew criticism for entering into a consulting contract with China’s largest private energy company, which Hunter Biden initially earned $ 10 million a year “just for launches”, according to leaked emails.
Hunter Biden’s memoir, “Beautiful Things,” will appear on April 6th. The book focuses on the younger Biden’s well-documented issues of drug abuse, according to Gallery Books, a print by Simon & Schuster.