Hunter Biden's former business associate, Zhao Xuejun, has come under investigation by Chinese authorities, leading to his resignation from his position as Chairman of Harvest Fund Management, one of China's largest asset management firms. Zhao, who was often referred to as "Henry" by Biden and his business partners, has been implicated in what Beijing has described as "personal problems," though the specifics of these issues remain unclear.
Zhao's ties to the Biden family have drawn significant attention, particularly in light of his involvement in several ventures that Hunter Biden pursued in China. Zhao is the second known business partner of Hunter Biden to face scrutiny from Chinese authorities. This development follows the mysterious disappearance of Ye Jianming, another key figure in Hunter Biden's Chinese business dealings, who has not been seen since 2018. Ye was once the owner of CEFC China Energy, and his name later surfaced in trials involving senior Chinese Communist Party officials accused of corruption.
Hunter Biden's Former Partner Placed Under Investigation by Chinese Government, Resigned from Fundhttps://t.co/LtkfIocMqF
— Tennessee Star (@TheTNStar) August 23, 2024
Zhao’s business connections with Hunter Biden date back over a decade. In 2011, Zhao was introduced to Hunter Biden and his business partners, including Devon Archer, through another Chinese businessman known as "The Chairman."
This introduction laid the groundwork for a series of business ventures, including the establishment of Bohai Harvest RST (BHR), an investment entity that benefited from the Biden family’s political connections. Despite the controversies surrounding these dealings, Hunter Biden's attorneys have disputed claims that he received financial gains from his 10% stake in BHR.
Remember Hunter Biden’s Chinese associate Henry Zhao? He’s in trouble in China and just resigned as chairman of Harvest Fund Management, according to Caixin.
Zhao aka Zhao Xuejun was the Chinese businessman Hunter threatened in a 2017 WhatsApp message from his father’s… pic.twitter.com/HrsbMB8NVB— Miranda Devine (@mirandadevine) August 14, 2024
The most notable collaboration between Zhao and Hunter Biden involved the Burnham venture, a private equity platform that sought to leverage the Biden name and political connections. This venture, however, was mired in legal troubles, as other partners like Jason Galanis and Devon Archer became entangled in a fraud scheme. Galanis, now serving a prison sentence, testified before Congress as part of the impeachment inquiry into President Joe Biden, revealing that the Burnham venture aimed to integrate the "Biden Family Office" with a large-scale financial company.
Zhao’s willingness to engage in these ventures was reportedly driven by the prospect of gaining access to then-Vice President Joe Biden. Emails obtained during investigations suggest that Zhao valued Hunter Biden's involvement primarily for the political access it provided rather than for financial reasons. Galanis testified that Zhao was enticed by the potential for Joe Biden to join the Burnham-Harvest team after his vice presidency, a prospect that was emphasized in communications with Zhao to secure his continued participation.
This latest investigation into Zhao is seen as part of a broader crackdown by Chinese authorities on the securities sector, where numerous executives have come under scrutiny. The implications for Hunter Biden and his ongoing legal and political challenges remain to be seen, but Zhao’s resignation marks another significant blow to the Biden family’s international business connections.
Zhao’s fall adds to the growing list of Biden associates facing legal and political peril, further complicating the narrative around Hunter Biden’s business dealings and the potential influence of his family’s political standing on these ventures.
