Hunter Biden, son of President Joe Biden, is once again in the spotlight following recent news surrounding his financial dealings. According to evidence gathered by federal and congressional investigators, Hunter received a $250,000 loan from a Chinese businessman named Xiangsheng “Jonathan” Li just three months after his father announced his 2020 presidential campaign.
This loan was later assumed by Kevin Morris, a Hollywood lawyer and Democrat donor, who took on the debt on Hunter’s behalf.
The House Oversight Committee had previously disclosed that in July 2019, Hunter Biden received a $250,000 wire transfer, using his father’s Delaware address for the transaction. Documents reviewed by Just the News indicate that Hunter considered this wire as a loan from Li. The two had a longstanding business relationship, having co-founded an investment fund named Bohai Harvest RST (BHR) over a decade ago.
Following Joe Biden’s ascendancy to the presidency, documentation indicates that Hunter shifted the debt to Kevin Morris. The said financial exchange occurred on November 17, 2021, with Morris taking over Hunter’s interests in the BHR partnership as well as in Skaneateles, LLC. Consequently, Hunter’s primary responsibility for the debt was alleviated.
🚨 BREAKING 🚨
In July 2019 (three months after Joe Biden announced he was running for president), Hunter Biden received a $250,000 “loan” from one of his Chinese business associates. This is the wire that used Joe Biden’s Delaware house as the beneficiary address.
Well, now we…
— Oversight Committee (@GOPoversight) October 30, 2023
In 2012, Li, the mentioned Chinese entrepreneur, teamed up with Hunter and another partner, Devon Archer, to found BHR. The primary financiers of this firm were Chinese state-affiliated entities, notably the Bank of China. From 2017 onward, Hunter played a pivotal role in BHR, both as a board member and by holding a 10% ownership stake.
Just the News reported:
In December 2013, Hunter Biden traveled to Beijing aboard Air Force Two with then-Vice President Joe Biden. The trip came shortly after Li, Archer, and Biden had signed a memorandum of understanding to form BHR. Hunter Biden later acknowledged that he introduced his father to Jonathan Li in the lobby of their Beijing hotel. Twelve days after the trip, BHR was registered in Beijing, according to The Wall Street Journal.
The loan to Hunter Biden came exactly three months after his father announced his presidential candidacy on April 25, 2019. During the campaign, and to this day, Joe Biden flatly denies that his son was making money from China or that he had any knowledge of those business dealings. In one instance, in the October 2020 presidential debate, Joe Biden claimed that his son “has not made money…in China,” despite emerging evidence to the contrary.
Earlier that month, Hunter Biden’s lawyer at the time, George Mesires, addressed Hunter’s role with the company. “Hunter neither played a role in the formation or licensure of the company, nor owned any equity in it while his father was Vice President,” he wrote in a post to Medium. “He served only as a member of its board of directors, which he joined based on his interest in seeking ways to bring Chinese capital to international markets. It was an unpaid position.”
The connection between Morris and Hunter is now under investigation, with an ongoing congressional investigation. A significant portion of the financial support Morris extended to Hunter was through loans. Additionally, Morris has occasionally been involved as part of Hunter’s legal representation.