Biden Inc: Hunter Biden Still Holds 10 Percent Stake in Chinese Firm; Non-Attorney Frank Biden Shilling for Florida Law Firm
Members of the Biden clan appear to be continuing their influence peddling operations post Inauguration Day.
Hunter Biden reportedly still holds a 10 percent stake in a Chinese private equity firm even though his father promised during his presidential campaign that no one in his family would engage in foreign business if he became president. Meanwhile, Joe Biden’s younger brother Frank Biden is brazenly exploiting his ties to the Biden administration to shill for a Florida-based law firm.
Multiple reports in December suggested that the younger Biden was in the process of offloading his stake in the firm, BHR Partners, but according to the Daily Caller, Chinese business records show otherwise.
… Hunter Biden continues to hold his equity stake in BHR through his company, Skaneateles LLC, as of Wednesday, according to Qixinbao and Baidu, two independent services that provide business records on Chinese corporations based on China’s National Credit Information Publicity System.
Hunter Biden is the sole beneficial owner of Skaneateles LLC, according to Washington D.C. corporate records.
BHR manages the equivalent of $2.1 billion in assets and is co-owned by the Chinese state-controlled Bank of China.
Hunter Biden’s lawyer, George Mesires, said in October of 2019 that Hunter had not profited off his investment in BHR, but emails found on Hunter Biden’s laptop show that “he was told on multiple occasions by his business partner Eric Schwerin that he would begin receiving significant payments from the firm beginning in 2019,” according to the Daily Caller.
Mesires also said in the October 2019 statement that Hunter Biden would step down from his position on BHR’s board of directors, a move that President Joe Biden lauded as a representation of “the kind of man of integrity he is.”
Six months later, BHR’s business records indicated that Hunter Biden did leave the board.
Joe Biden repeatedly pledged during the election campaign that no one in his family would engage in foreign business if he was elected president.
“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,” Joe Biden told reporters in Iowa. “Period. Period. End of story.”
Biden took the opportunity to project his family’s record of influence peddling onto the Trump family during an Axios interview on HBO: “They will not be engaged in any foreign business because of what’s happened in this administration.”
American Greatness reported in October that federal prosecutors opened a criminal investigation into Hunter Biden and his business associates focused on money-laundering, and that it remained “open and active.”
In December, Hunter confirmed to the corporate media (which had ignored the story during the campaign) that he had indeed been notified that the feds were investigating his “tax affairs.”
Joe Biden’s younger brother Francis W “Frank” Biden meanwhile promoted his relationship with Joe Biden in an Inauguration Day advertisement for the Berman Law Group based in Boca Raton, Florida.
Frank Biden, who is listed as a non-attorney senior adviser for Berman, was featured in the firm’s ad in the Daily Business Review. In the ad, Frank Biden unabashedly touted his relationship with the new president and their family name.
“My brother is a model for how to go about doing this work,” Frank Biden said in the ad, according to CNBC. “One of his central tenets is that one should never question another man’s or woman’s motives or assign blame to them. That way, you avoid creating a disparity that prevents any kind of coming together. You can, of course, question someone’s judgment, and that’s what we’re doing by bringing this to court.”
In an email to CNBC, Biden denied cashing in on his brother’s status.
“I have never used my brother to obtain clients for my firm. Our firm has long been involved [with] this lawsuit. Social justice is something I have been involved in for years,” Frank Biden said. “I will never be employed by any lobbyist or lobbying firm.”
In reaction to the ad, Senator Ron Johnson (R-Wis.) told Fox News host Maria Bartiromo Thursday night that “‘Biden Inc.’ is still in business.”
“What does a ‘senior non-attorney advisor’ do in a law firm?” Johnson asked rhetorically. “He makes connections, he peddles his influence.”
The Senator went on to say that he finds Hunter Biden’s continued 10 percent stake in BHR to be “troubling.”
“I hope that’s not true because that raises so many counterintelligence, extortion types of threats,” he said. “Biden Inc. is back in business if it ever went out, and I don’t think it did.”