Hunter Biden is garnering attention yet again — and not for a good reason.
The New York Post reports that the White House admitted last week that the president’s son is still a shareholder in an investment firm linked to China’s communist government.
“He has been working to unwind his investment, but I would certainly point you — as [Hunter is] a private citizen — would point you to him or his lawyers on the outside on any update,” White House Press Secretary Jen Psaki said during her daily briefing Friday, according to the Post.
A conflict of interest?
Known as Bohai Harvest RST (BHR), the Chinese firm had Hunter Biden on its board until October 2019. The first son’s resignation from the board apparently came as a result of his father, who was starting to face questions about his son’s foreign business dealings.
Hunter Biden’s lawyer maintained at the time that “Hunter has not received any compensation for being on BHR’s board of directors.”
“He has not received any return on his investment; there have been no distributions to BHR shareholders since Hunter obtained his equity interest,” the attorney added, according to the Post.
Since winning in November, Joe Biden has vowed that his family will stay far away from the White House to avoid any perceived conflict of interest.
“My son, my family will not be involved in any business, any enterprise that is in conflict with or appears to be in conflict with where there’s appropriate distance from the presidency and government,” the now-president said in December, according to the Post.
A federal probe
But Friday’s exchange between Psaki and reporters is proof positive that the controversy isn’t over for the Bidens. In addition to questions about his foreign business dealings, Hunter Biden revealed after November’s election that he was being investigated by federal authorities over his “tax affairs.”
“I take this matter very seriously but I am confident that a professional and objective review of these matters will demonstrate that I handled my affairs legally and appropriately, including with the benefit of professional tax advisors,” Hunter Biden said in a statement in early December, according to NBC News.
Days later, Politico reported that “investigators in Delaware and Washington were also probing potential money laundering and Hunter Biden’s foreign ties.”
It looks like the troubles for the Biden family are only just beginning.