• Mon. Oct 3rd, 2022

Company founded by Hunter Biden still owns 10% stake in Chinese company, records show

ByJanice K. Merrill

Jul 18, 2022

by Hunter Biden ILawyers insist he divested a 10% stake in a company linked to the Chinese government, but they won’t say who he sold it to or how much money he may have made as a result. result.

Chinese business records still list Skaneateles, an LLC created by Biden hunteras a 10% owner of Chinese investment firm BHR Partners, more than seven months after his attorney said he had exited the business completely. He had been pressured to give up the stake following his father’s victory in the 2020 election.

Hunter’s lawyer Chris Clark Told the New York Times in November, his client “no longer holds any interest, direct or indirect, in either BHR or Skaneateles”.

“Please read the language you quoted below,” Clark told the Washington Examiner in an email on Friday. “Internalize it.” He did not respond to how Hunter got rid of BHR or Skaneateles, whether he sold his stake and whether he made any money from the Chinese business effort.

White House Deputy Press Secretary Andrew Bates spoke about the Washington Examiner to Hunter Biden’s representatives when asked for comment.

Business records from China’s National Public Credit Reporting System continue to identify Skaneateles as the 10% owner of BHR, and US business records listed Hunter as the sole owner of Skaneateles.

chinese website Qixin says the latest filing is from BHR itself and was filed last month. BHR’s 2021 annual report has an “announcement date” of June 20. Skaneateles is still listed as a “shareholder” with a 10% stake.

GRASSLEY AND JOHNSON WANT DOJ INVESTIGATION INTO HUNTER BIDEN’S PARTICIPATION IN RUSSIA-LINKED ESCORT RING

The Department of Consumer and Regulatory Affairs informed the Washington Examiner in March, no case had been submitted for Skaneateles since October 20, when a two-year report for the entity was filed, listing Hunter as the sole “governor” of the company. Skaneateles is listed as “revoked” on the DCRA’s online business registry because a $300 “reinstatement fee” has not yet been paid for the LLC, a DCRA representative told the Washington Examiner.

A report for DCRA’s Skaneateles listing Hunter as the company’s “governor” effective Oct. 20, when a $400 filing fee was paid. Skaneateles’ public trade records on the DCRA website listing Hunter Biden as the company’s “executive delegate” with the same address.

The DCRA site still says the most recent report for Skaneateles remains the October filing.

It is possible that China’s business registry has not been updated to reflect a potential transfer or sale of Skaneateles’ 10% stake in BHR to another party, or that Hunter’s business is not not fully reflected in US records.

Hunter’s attorney, George Mesires, said in October 2019 his client joined BHR’s board when it was formed in 2013 and secured his 10% stake in October 2017 for around $420,000 through Skaneateles. Mesires added in the message that his client “has not received any compensation for his participation on the board of directors of BHR”.

But emails from Hunter’s laptop show he was told by his business partner in November 2018 that he expected ‘significant distribution’ in 2019 due to the manufacturer’s lucrative BHR exit. Chinese CATL batteries.

Hunter’s name was removed from BHR’s board in April 2020, according to the investment firm’s filing on China’s National Credit Reporting System.

BHR has invested in several controversial Chinese companies, including facial recognition company Megvii, which has been hit with US sanctions for its alleged involvement in China’s crackdown on Uyghur Muslims.

Hunter wrote in his memoirs Pretty Things that in 2013 he accompanied a trip to Beijing, where his father was Meet with Chinese President Xi Jinping. At the time, Hunter was working at Rosemont Seneca, and “our deal with the greatest potential was a partnership with a Chinese private equity fund seeking to invest Chinese capital in companies outside the country.”

Hunter arranged for Vice President Biden to shake hands with the CEO of BHR China.

Joe Biden has repeatedly claimed that he “never” spoke with his son about his overseas business dealings.

A voicemail located on a password-protected iPhone XS backup found on a copy of Hunter’s abandoned laptop, however, indicates that he did indeed have some level of awareness.

In voicemail, first reported by the Daily MailJoe reassured Hunter that he was in “clear” following the publication of a New York Times article covering his dealings with now-defunct Chinese energy conglomerate CEFC in 2018.

CLICK HERE TO LEARN MORE ABOUT THE WASHINGTON EXAMINER

During a 2020 debate with then-President Donald Trump, Biden erroneously claimed, “My son didn’t make any money off this thing about – what are you talking about – from China.”

The White House has stood there claim.