Hunter has also released a statement where pledged to not work for foreign companies should his father be elected president.
Hunter Biden announced Sunday that he will resign from the board of a Chinese-backed private equity company, just days after President Trump criticized him for his work there.
The son of former U.S. Vice President Joe Biden, who is embroiled in a scandal over his work in Ukraine, also vowed to forego all foreign work if his father wins the 2020 presidential election.
“Hunter always understood that his father would be guided, entirely and unequivocally, by established U.S. policy, regardless of its effects on Hunter’s professional interests,” reads a statement released by Hunter’s lawyer George Mesires. “He never anticipated the barrage of false charges against both him and his father by the President of the United States.”
Hunter served on the board of BHR (Shanghai) Equity Investment Fund Management Company, which is backed by several Chinese state-owned companies. In the statement, his lawyer said Hunter invested “approximately $420,000 in October 2017 to acquire a 10% equity position in BHR, which he still holds.”