The House Oversight Committee has dropped another bomb on “the Biden family’s influence peddling and business schemes,” detailing in a memo the “complicated” financial transactions that led to Joe Biden receiving $40,000 in “laundered” Chinese funds from his brother, James Biden.
The memo cites a series of WhatsApp messages exchanged in the Summer of 2017 between Hunter Biden and Chinese energy giant CEFC, in which Hunter “leveraged” the power of his father’s name.
“I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled,” Hunter told CEFC associate Raymond Zhao.
“Z if I get a call or text from anyone involved in this other than you, Zhang or the Chairman I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction,” the future first son stated.
“Days after Hunter Biden’s WhatsApp messages, a Chinese company wired millions of dollars to Hudson West III, and Joe Biden received $40,000 of the proceeds through a complicated series of financial transactions,” according to the Oversight Committee’s memo, referring to a joint venture company established by Hunter and CEFC associate Gongwen Dong.
On Sept. 3, 2017, a check labeled “loan repayment” from James Biden — Hunter’s partner in the Chinese venture — found its way into Joe Biden’s bank account.
“The 2017 transfer from first brother James Biden and his wife Sara to the future president allegedly involves the same business deal in which Joe Biden was called the ‘big guy’ and penciled in for a 10% cut — and would be the first proven instance of the commander-in-chief getting a piece of his family’s foreign income,” the New York Post reports.
Oversight Committee Chairman James Comer (R-Ky.) explained in a video posted on X the significance of the finding.
“Remember when Joe Biden told the American people that his son didn’t make money in China?” he asked. “Well, not only did he lie about his son Hunter making money in China, but it also turns out that $40,000 in laundered China money landed in Joe Biden’s bank account in the form of a personal check.”
BREAKING We’ve followed the money and identified how Joe Biden received $40,000 in laundered China money. @RepJamesComer lays out the money trail. pic.twitter.com/lH69OUOHid — Oversight Committee (@GOPoversight) November 1, 2023
“Even if this $40,000 check was a loan repayment from James Biden,” Comer argued, “it still shows how Joe benefited from his family cashing in on his name — with money from China no less.”
So-called “loan repayments” to Joe Biden appear to be a regular occurrence.
On Oct. 20, the Oversight Committee announced, “We have found a $200,000 DIRECT payment to Joe Biden.”
A synopsis of the most recent memo maps out the damning money trail.
On Aug. 8, 2017, $5 million was wired to “Hudson West III, a joint venture established by Hunter Biden and CEFC associate Gongwen Dong,” it explains, according to The Post.
“That same day, Hudson West III sent $400,000 to Owasco, P.C., an entity owned and controlled by Hunter Biden. On August 14, 2017, Hunter Biden wired $150,000 to Lion Hall Group, a company owned by President Biden’s brother James and sister-in-law Sara Biden,” it continues. “On August 28, 2017, Sara Biden withdrew $50,000 in cash from Lion Hall Group. Later the same day, she deposited it into her and James Biden’s personal checking account.”
“On September 3, 2017,” the synopsis states, “Sara Biden cut a check to Joe Biden for $40,000 for a ‘loan repayment.'”
White House spokesman Ian Sams dismissed the committee’s findings.
“Comer’s lies and conspiracy theories are getting more desperate by the day,” he stated on X. “Perhaps that’s why yesterday he admitted his probe was going ‘downhill.'”
“This has been widely debunked for more than a week now,” he added.
For proof, he linked to an article from The Messenger that claimed it had reviewed the bank records and determined the $40,000 really was a short-term loan from Joe to his brother.
Comer’s lies and conspiracy theories are getting more desperate by the day. Perhaps that’s why yesterday he admitted his probe was going “downhill.” This has been widely debunked for more than a week now:https://t.co/BWjpbKld6xhttps://t.co/j3OOiZ0qPHpic.twitter.com/niacbiftFU — Ian Sams (@IanSams46) November 1, 2023
Naturally, Comer has reached a different conclusion.
President Biden, he wrote on X, “benefited from his family’s shady China business deals.”
“Joe Biden,” he asserted, “exposed himself to blackmail & put America’s interests behind his own.”
BREAKING Joe Biden received $40,000 in laundered China money from James Biden & Sara Biden.@GOPoversight has the bank records. @POTUS benefited from his family’s shady China business deals. Joe Biden exposed himself to blackmail & put America’s interests behind his own. https://t.co/TuQ5q5fKYt — Rep. James Comer (@RepJamesComer) November 1, 2023