Hunter Biden has announced he is stepping down from the board of a Chinese company, conceding the poor optics that arise from the son of a vice president serving on the board of a foreign-owned company.
Biden’s decision comes amid escalating attacks by President Trump. (Washington Post)
In a statement released by his attorney, Hunter Biden also said he would not serve on the boards of foreign-owned companies if his father wins the 2020 presidential election.
“Hunter makes the following commitment: Under a Biden Administration, Hunter will readily comply with any and all guidelines or standards a President Biden may issue to address purported conflicts of interest, or the appearance of such conflicts, including any restrictions related to overseas business interests,” the attorney, George Mesires, said in the statement. “In any event, Hunter will agree not to serve on boards of, or work on behalf of, foreign owned companies.”
In December 2013, Hunter Biden joined the board of a just-formed investment advisory firm known as BHR. At least half of the firm’s stake is owned by Chinese entities, according to business records.
Mesires told The Washington Post in an interview earlier this year that Hunter Biden did not acquire a financial stake in the company until October 2017, when he bought a 10 percent equity interest. The stake is currently worth about $420,000, Mesires said in his statement Sunday.