Politics

Hunter Biden to Step Down From Chinese Firm

Hunter Biden, the son of former vice president Joe Biden, plans to step down from the board of directors of a Chinese firm amid scrutiny of his business dealings in Ukraine and China, according to a statement from his attorney.

Biden also committed to not serve on the boards of or work for any foreign companies if his father was to be elected president.

Hunter Biden holds an unpaid position on the board of directors of BHR (Shanghai) Equity Investment Fund Management Company, according to his attorney, George Mesires. He “committed to invest” $420,000 into the company in October 2017 to acquire a 10 percent equity position which has not yielded any dividends, Mesires said.

Biden intends to resign from the board of BHR on or before Oct. 31.

“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 said.

BHRs acquisition of Henniges, of an American antivibration technology manufacturer, is under scrutiny by the Senate Finance Committee and Judicial Watch, a conservative government transparency group. To acquire Henniges, BHR partnered with the Chinese Communist Party-owned aviation company Aviation Industry Corp.

Bidens statement reveals, for the first time, his own narrative related to his work in Ukraine and China.

According to the statement, Biden joined the board of directors of Burisma, Ukraines largest independent oil producer, in April 2014. Prior to joining the board, Biden was advising Burisma as part of his work for Boies Schiller Flexner, an American law firm.

Former president of Poland Aleksander Kwasniewski “recommended” that Hunter join the board of Burisma, although the statement does not make clear whether Kwasniewski made the recommendation to Biden, Burisma, or both. Biden joined the board as a non-executive member and was paid for the position. The statement does not reveal the exact sum. He resigned from the board in April.

Hunter Bidens work in Ukraine and China came into the spotlight after an anonymous whistleblower complained about a call between President Donald Trump and Ukrainian leader Volodymyr Zelensky. During the call, Trump had asked Zelensky to look into Bidens dealings in Ukraine, which at the time had already been questioned by investigative reports by The New York Times and Read More – Source