UPDATED 4:40 PM PT – Saturday, February 6, 2021
The White House addressed Hunter Biden’s’ investment in a Chinese firm. On Friday, White House Press Secretary Jen Psaki told reporters that Hunter is working to unwind his connections with Chinese equity company BHR Partners.
Reports indicated Hunter is the sole owner of a limited liability corporation that reportedly holds a 10 percent stake in the BHR Partners firm. However, Psaki told reporters Hunter is a private citizen despite Joe Biden’s promise that no one in his family would have foreign business ties during his presidency.
Jen Psaki says that Hunter Biden “has been working to unwind his investment” in the Chinese private investment firm BHR Partners, which is affiliated with the Chinese state-controlled Bank of China. Records indicate he still owns a 10% stake.@DCExaminer https://t.co/myYCaiNhKT
— Jerry Dunleavy (@JerryDunleavy) February 5, 2021
“He has been working to unwind his investment, but I would certainly point to you that he is a private citizen,” Psaki stated. “I would point you to him or his lawyers on the outside on any update.”
This news came amid an ongoing federal investigation into Hunter’s finances. Authorities are reportedly looking into his business dealings with China, but have not provided any recent updates on the case.