Politics

Hunter Biden Resigns from Board of Chinese-Backed Private Equity Firm

Here's the answer to President Donald Trump's question of the other night: 'Where's Hunter?' — son of the former vice president issues a statement

Image Credit: Screenshot, Twitter

Well, well, well.

Hunter Biden, a son of former Vice President Joe Biden — a current candidate for the 2020 Democratic nomination — is now stepping down from the board of a Chinese-backed private equity company on which he had been serving.

He is also committing to not working for a foreign-owned company if his father is elected to the White House next November.

Multiple outlets are reporting the breaking news as of Sunday morning at about roughly 9:45 a.m. ET.

Hunter Biden is also promising to pass up “any foreign work” after President Donald Trump — for the past several weeks — has been calling the nation’s attention to potential corruption connected to these board and other positions.

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Related: Biden Bombshell: Was There ‘Coordination’ with House Dems?

In a statement released by his lawyer George Mesires and posted on Medium, Hunter Biden said he will step down by the end of this month — October 2019 — from a management company of a private equity fund backed by Chinese state-owned entities.

He also insisted he has not discussed any of his business activities with his father.

His statement said, in part: “Hunter undertook these business activities independently. He did not believe it appropriate to discuss them with his father, nor did he. Hunter always understood that his father would be guided, entirely and unequivocally, by established U.S. policy, irrespective of its effects on Hunter’s professional interests. This was the standard observed throughout Hunter’s professional career. When Hunter engaged in his business pursuits, he believed that he was acting appropriately and in good faith. He never anticipated the barrage of false charges against both him and his father by the president of the United States.”

As all of those following the news know, Trump — during a July 25 phone call with the president of Ukraine — suggested the Bidens be looked at in regard to potential corruption-related activities that might be compromising to the United States.

Trump released a full transcript of that phone call, something Democrats almost certainly weren’t expecting him to do.

That phone call by the president is what House Democrats are using to drive an impeachment push against Trump.

Shortly after the revelations of the Ukraine call, Trump suggested China should look at the Bidens as well.

Trump released the document about the July 25 call for transparency in light of a so-called whistleblower’s complaint about the phone call — and charges that Trump in some way acted improperly.

Related: White House Releases Transcript of July 25 Phone Call

Republicans have maintained there was nothing explicit tying Trump’s remarks to any foreign aid or quid pro quo.

Democrats said that was implied — and are trying to use whatever they can to move forward on impeachment.

Steve Guest of the Republican National Committee shared this message, in part, in an email on Sunday morning: “Hunter Biden announcing [that] he plans to step down from the board of a Chinese private equity company can only be viewed as an admission by the Bidens that his being on the board in the first place was wrong.”

Guest also wrote that “in 2013, Hunter received a red-carpet welcome in China after he followed his father off of Air Force 2. Less than two weeks after his trip, Shanghai authorities issued a business license and Hunter got a seat on the board of the investment company.”

“One of the products Hunter’s firm is invested in is facial-recognition technology used to ‘surveil China’s Muslim population as part of its ongoing cultural genocide operation.'”

“Stop the madness,” Guest also wrote. “If Hunter Biden was truly committed removing the stench of corruption that is plaguing Quid Pro Joe and the entire Biden family, he would divest his stake in the Chinese fund, too.”

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This article has been updated with additional information. 

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