Hunter Biden set up a private equity fund with investment from Chinese businesses while accompanying his father, then-Vice President Joe Biden, on an official visit to Beijing in 2013, US media reported on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 02nd October, 2019) Hunter Biden set up a private equity fund with investment from Chinese businesses while accompanying his father, then-Vice President Joe Biden, on an official visit to Beijing in 2013, US media reported on Wednesday.Hunter Biden during the trip was setting up a Chinese private equity fund that current US President Donald Trump has claimed aimed to raise up to $1.5 billion in investment, though the final total was just over $4 million, the Washington Post reported.
Hunter Biden has since admitted that he did talk to Chinese banker Jonathan Li and his partner in the fund during the trip, but claimed that it was only a social visit, the report said.
Chinese officials in Shanghai issued a license to allow the fund to operate ten days after the visit and Hunter Biden was a member of the board of directors, the report also said.
Hunter Biden's spokesman George Mesires later informed NBC news that his boss never received any compensation for sitting on the fund's board although he did acquire an equity interest in it after Joe Biden stepped down as vice president in January 2017, the report added.
