Mods: please consider adding a subgroup of Corruption. It will get frequent use.[Daily Caller] Hunter Biden continues to hold a 10% stake in the Chinese private equity firm BHR Partners, Chinese business records show, despite multiple reports from December suggesting he was divesting his position in the company.
Both the Daily Mail and Fox News reported in late December that Hunter Biden was in the process of offloading his stake in BHR. Both outlets cited an unnamed source with Hunter Biden and his business dealings.
But Hunter Biden continues to hold his equity stake in BHR through his company, Skaneateles LLC, as of Wednesday, according to Qixinbao and Baidu, two independent services that provide business records on Chinese corporations based on China’s National Credit Information Publicity System. Hunter Biden is the sole beneficial owner of Skaneateles LLC, according to Washington D.C. corporate records.
BHR manages the equivalent of $2.1 billion in assets and is co-owned by the Chinese state-controlled Bank of China.
Also: Hunter Biden Was Due To Receive ’Significant’ Payments From Chinese Private Equity Firm Starting In 2019, Emails Show
An email Schwerin sent to Mesires on March 6, 2019, indicated that Hunter Biden's loan was extended.
"BHR was valued at RMB 60m in November 2016. In today's dollars that equates to $8.94m. Skaneateles shares would therefore be valued at $894,000," Schwerin wrote to Mesires in the email that was later forwarded to Hunter Biden.
"I am attributing the full value of the shares even though there is a $150,000 loan due to BHR by Skaneateles because there is a high likelihood that there will be a distribution in 2019 that would repay the loan and still provide a distribution to Skaneateles," Schwerin added. "This is not even taking in consideration future distributions from exits of Henniges, Sinopec, and Face++. All of these investments are likely to be profitable for BHR."