Hunter Biden was paid more than $80,000 a month as a “ceremonial figure” by the Ukrainian company Burisma, which hired him “as a helpful non-executive director with a powerful name,” according to a new report.
The Reuters News Agency interviewed more than a dozen people, including executives and former prosecutors in Ukraine, to “paint a picture of a director who provided advice on legal issues, corporate finance and strategy during a five-year term on the board, which ended in April of this year.”
Burisma Holdings is one of Ukraine’s largest natural gas companies. By the end of Biden’s term, the company had paid $3.4 million to Rosemont Seneca Bohai LLC, a company headed by Hunter Biden’s business partner Devon Archer. From Reuters:
Specifically, the records show 18 months in which two payments of $83,333 per month were paid to Rosemont Seneca Bohai for “consulting services.” The two sources said that one of those monthly payments was intended for Biden and one for Archer. Reuters was not able to independently verify the authenticity of the documents or how much money Hunter Biden received.
“Biden never visited Ukraine for company business during that time, according to three of the people,” Reuters added.
Biden on Tuesday said he did nothing wrong when he served on the board of the Ukrainian gas company, but acknowledged that he likely got high-paying positions on such boards because “I’m the son of the vice president of the United States.”
“If your last name wasn’t Biden, do you think you would have been asked to be on the board of Burisma?” ABC News’ Amy Robach asked.
“I don’t know, I don’t know, probably not,” Biden said. “It is impossible for me to be on any of the boards that I just mentioned without saying that I’m the son of the vice president of the United States.”
He went further, saying, “I don’t think that there’s a lot of things that would have happened in my life if my last name wasn’t Biden.”
President Donald Trump has hammered Joe Biden, the former frontrunner for the Democratic presidential nomination, over his son Hunter’s ties to Ukraine and China. “The Biden family was PAID OFF, pure and simple!” Trump wrote on Twitter this month, accusing Hunter of banking $1.5 billion from the Chinese investment firm.
“Hunter Biden received over $700,000 from a New York-based capital management company that held equity in a Chinese investment firm with close ties to the Bank of China, a Daily Caller News Foundation review of Hunter Biden’s Chinese, Ukrainian and American business dealings has found,” the Daily Caller reported.
Hunter Biden announced Sunday that he will resign from the board of the Chinese-backed private equity company. Hunter served on the board of BHR (Shanghai) Equity Investment Fund Management Company, which is backed by several Chinese state-owned companies. In a statement, his lawyer, George Mesires, said Hunter invested “approximately $420,000 in October 2017 to acquire a 10% equity position in BHR, which he still holds.”
But the lawyer said Hunter has never been paid by the company.
“To date, Hunter has not received any compensation for being on BHR’s board of directors. He has not received any return on his investment; there have been no distributions to BHR shareholders since Hunter obtained his equity interest. Moreover, Hunter played no role in directing or making BHR’s investments. Hunter intends to resign from the BHR board of directors on or by October 31, 2019,” Mesires wrote.