In recent developments, Kevin Morris, a lawyer and close friend of Hunter Biden, confirmed to congressional lawmakers that he maintains a stake in a Chinese private equity firm, Bohai Harvest RST LLC (BHR). This confirmation follows his acquisition of Hunter Biden’s shares in the company.
Morris, who has been referred to as Hunter’s “sugar brother” due to his financial support of Biden, including loans to pay off back taxes and other bills, disclosed his continuing 10% ownership in BHR during his testimony before the House Oversight and Judiciary Committees. He acquired these shares after buying Skaneateles LLC, a company previously owned by Hunter Biden, in fall 2021 amidst pressure for Hunter to divest.
In the testimony, Morris acknowledged the strategic acquisition of his stake in BHR, seeing it as a promising investment opportunity. He stated that his decision was based on a thorough evaluation of the investment’s potential. However, he did not provide specific details about the investments during the interview, citing attorney-client privilege.
Hunter Biden had initially continued to hold a stake in BHR despite his father, President Joe Biden, pledging in October 2019 to avoid foreign business entanglements during his presidency. This pledge came amid growing scrutiny of Hunter Biden’s business dealings, particularly those involving foreign entities.
The discussion around Hunter Biden’s involvement with BHR has been a topic of political and public interest, especially considering the senior Biden’s promises regarding family business ventures during his administration. Hunter Biden was previously a board member of the Chinese firm, whose financial backers include the Bank of China, and announced his intention to step down from the board in October 2019 amid his father’s presidential campaign.
The situation raises questions about the ethics and implications of such investments and the transparency of political figures and their associates in business dealings. As lawmakers and the public scrutinize these developments, the focus remains on understanding the full extent of these financial relationships and their impact on political and economic dynamics.