President Biden’s son, Hunter Biden, still owns a stake in a Chinese private equity firm 100 days into his father’s presidency after the president pledged to prohibit family members from engaging in international business dealings, according to financial documents.
The elder Biden promised on his presidential campaign that his family would not engage in business dealings with other countries or overseas corporations.
“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,” then-candidate Joe Biden said in October 2019.
But Chinese business records reviewed by Fox News show that Hunter Biden continues to hold a 10% stake in Chinese private equity firm Bohai Harvest RST Equity Investment Fund Management Co. through Hunter’s company, Skaneateles LLC.
“He has been working to unwind his investment, but I would certainly point you — he’s a private citizen,” Psaki said at that time. “I would point you to him or his lawyers on the outside on any update.”
The Daily Caller News Foundation first reported on the 100-day hiccup on Thursday, pointing out that BHR Partners is co-owned by the Bank of China, the state-controlled central bank.
Hunter previously sat on the Chinese firm’s board before announcing in October 2019 that he would be stepping down over mounting scrutiny from his father’s presidential bid.
Fox News’ Peter Hasson and Yael Halon contributed to this report.