Hunter Biden’s hip hop record label recently folded after defaulting on its mortgage payments, Nevada state records reviewed by The Washington Free Beacon show.
The son of former Vice President Joe Biden founded Biden Enterprise LLC in 2018 alongside a 42-year-old California man named Michael Elisaldez. The company purchased a $365,000 property in Nevada last year to use as a recording studio, but it was unable to get off the ground and went into foreclosure last month.
The company advertised itself with rising hip-hop and country music stars, and still owes significant amounts of money in back pay to Republic Silver State Disposal Inc. over garbage disposal, according to the Free Beacon. (RELATED: FLASHBACK: Joe Biden: ‘China Is Not Our Problem’)
Hunter Biden (Astrid Stawiarz/Getty Images for Town & Country)
Hunter Biden’s business activities have come under scrutiny throughout his father’s presidential campaign. Hunter’s business activities in both Ukraine and China have raised questions about whether or not there was a conflict of interest given his father’s position. Hunter received $50,000 a month from 2014-2019 to sit on the board of Burisma Holdings, a Ukrainian energy company that was the subject of an investigation from former Ukraine Prosecutor General Viktor Shokin.
The former vice president later bragged about how he got Shokin fired in 2016 by threatening to withhold U.S. loan guarantees to the country. During his father’s tenure as vice president, Hunter Biden also received over $700,000 from a capital management company with close ties to one of China’s national banks.