How long does it take to resign from the board of a Chinese company? Via a statement by his attorney on October 13 of 2019, Hunter Biden announced his intention to resign from the board of directors of BHR, the Chinese investment company he helped to create, by October 31, 2019. As of 2020 Tax Day, It is six months later, and he is still on the board.
Per the Daily Caller. “As of Tuesday, BHR’s file on China’s National Enterprise Credit Information Publicity System (NECIPS) still lists Hunter Biden as being a director of BHR. Qixinbao, an independent service that provides registration information on Chinese corporations, also listed Hunter Biden as a member of the BHR board on Tuesday”
The reason his presence on the board matters is that, like his Ukraine dealings, Hunter Biden’s China business may have received some conflict of interest-type help from his Vice President daddy. As revealed in Peter Schweizer’s book Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends
What Hunter Biden, the son of America’s vice president, and Christopher Heinz, the stepson of the chairman of the Senate Committee on Foreign Relations (later to be secretary of state), were creating was an international private equity firm. It was anchored by the Heinz family alternative investment fund, Rosemont Capital. The new firm would be populated by political loyalists and positioned to strike profitable deals overseas with foreign governments and officials with whom the US government was negotiating.
The two were joined by Heinz buddy Devon Archer to create Rosemont Seneca Partners.
In December 2013, Hunter traveled to Beijing aboard Air Force Two with his dad, VP Joe Biden coincidently (if you believe in coincidences) ten days later, “Hunter’s company, Rosemont Seneca, became a partner in a new investment company backed by the state-owned Bank of China.” They called the new company, Bohai Harvest RST (BHR).
Representatives of the Biden family have denied any connection between the vice president’s visit and Hunter’s business. However, a BHR representative told The New Yorker earlier this year that Hunter used the opportunity to introduce his father to Chinese private equity executive Jonathan Li, who became CEO of BHR after the deal’s conclusion.
Per the New Yorker piece, the Senior Biden’s meeting with Li caused some White House advisors to worry whether the younger Biden was exposing his father to criticism. Especially since it was followed up by some “interesting” BHR deals:
(…)In December 2014, BHR became an “anchor investor” in the IPO of China General Nuclear Power Company (CGN), a state-owned nuclear company involved in the development of nuclear reactors. Not only is CGN a strategically important company in China, it was also facing legal scrutiny in the United States. In 2016, CGN was charged with espionage by the Justice Department for stealing US nuclear secrets.
In 2015, BHR acquired Henniges Automotive, a Michigan-based producer of vibration-dampening equipment, alongside Chinese military contractor Aviation Industry Corp. of China (AVIC). Given the military applications of Henniges’ technology, the deal required federal approval . Like CGN, AVIC was suspected of stealing US technology for its purposes.
The deal was approved in 2015.
Not long after the Henniges deal closed, AVIC debuted its new J-20 fighter — incorporating designs allegedly stolen from the US’ F-35 program.
According to BHR internal documents, the Henniges deal included “arduous and often-times challenging negotiations.” The CFIUS review in 2015 included representatives from numerous government agencies including John Kerry’s State Department.
That is just a smattering of how Hunter Biden’s China business smells of a conflict of interest for Joe Biden (and John Kerry also). As Schweizer noted in the Post, “All of this adds up to an extremely troubling pattern. Much of the media, as they so often do, have chosen to air the spin, rather than the facts, on this issue. Did the Chinese give favorable treatment to Hunter Biden to curry favor with his vice-president father? The American public deserves to understand what exactly Hunter Biden was doing overseas and the extent of then-Vice President Biden’s involvement.”
Hunter Biden’s board position is unpaid, but he does own ten percent of the multi-billion-dollar company. He told the New Yorker in the article referenced above that neither he nor any of the investors have received a penny from BHR. That may be the case, but when the company starts rewarding investors, the payout is going to be huge.
At Hot Air, Ed Morrissey asks Did Hunter Biden Lie About Resigning From Board Of China-Backed Firm? As usual, it’s a must read!
To get the full story of Hunter’s overseas involvement and possible conflicts of interest by daddy Joe involving Hunter and other members of the Biden family, I urge you to read Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends