[Breitbart] Kevin Morris, Hunter Biden’s Hollywood lawyer, verified to House investigators last week that he purchased Hunter’s ten percent stake in the Chinese state-backed investment fund BHR Partners, confirming Breitbart News’s exclusive in April, as initially revealed by non-for-profit Marco Polo.
Morris’s ownership of the stake raises questions about his intent for the acquisition, as related to his ongoing personal and business relationship with the first family, along with the business partnership he now has with a Chinese Community Party-linked fund.
Morris acknowledged he bought Hunter’s stake only after pressure increased on Hunter to divest from the entity due to a conflict of interest upon President Joe Biden assuming the White House.
BHR Partners, an entity controlled by the Bank of China, has about $3 billion currently invested around the world, according to its website.
Morris stated he purchased the company because it was a “good business investment,” a transcript obtained by Breitbart News shows. Morris only admitted to the acquisition after asserting the reason for purchasing the company was covered by the attorney-client privilege.
Morris performed due diligence on the entity holding the ten percent stake in BHR Partners, named “Skaneateles LLC,” he claimed, saying he knew the price Hunter initially paid for the stake. “I saw, and I still see upside,” he told investigators about the alleged investment.
It is unknown how much money Morris paid Hunter for the ten percent stake or if any money exchanged hands in the deal. “I did the transaction because, you know, I evaluated it as a businessman, and I thought it was something that could be a very successful investment,” he said.
The Bank of China, a state-owned bank, controls BHR Partners. The fund claims it maintains 22 billion Chinese Yuan (RMB) in various portfolio companies, translating to more than three billion USD. It reports investments in Didi Chuxing, a Chinese technology group; CATL, a lithium-ion manufacturer; Megvii, a deep-learning software developer; and Insilico Medicine, a biotechnology company.
|
