The House Oversight Committee’s Chairman, James Comer, released a memo on Wednesday regarding President Biden’s involvement in “laundered China money” from his brother and sister-in-law’s bank account.
These claims have ignited a firestorm of controversy and raised questions about the Biden family’s business dealings and potential conflicts of interest.
Comer’s investigation into the Biden family’s business dealings began with a subpoena for personal and business bank records belonging to both James Biden and Hunter Biden.
The goal was to determine whether President Biden was involved in any questionable financial transactions. Comer’s findings have shed light on a complex web of connections between the Biden family and Chinese Communist Party-linked CEFC.
Read: Trump Camp Attacks Florida Gov. DeSantis Over His Boots Saying “America’s Next Top Model”
According to Comer, the money trail can be traced back to July 2017 when Hunter Biden demanded a $10 million payment from a CEFC associate. In a WhatsApp message, Hunter claimed that his father was aware of the situation and that the Biden network would retaliate if the payment was not made.
These messages suggest a level of involvement by President Biden in his son’s business dealings.
Hunter Biden’s alleged extortion scheme appears to have been successful, as $5 million was soon transferred from a Chinese affiliate of CEFC to a joint venture established by Hunter and a CEFC associate.
The funds then made their way to another entity controlled by Hunter Biden. Days later, $150,000 was wired to a company owned by James Biden and his wife.
The New York Post reported that shortly after, James Biden wrote a personal check for $40,000 to his brother, Joe Biden, referring to it as a “loan repayment.”
Implications and Alleged Cover-Up
Comer argues that these transactions demonstrate how Joe Biden benefited from his family’s business dealings with China.
The allegations of “laundered China money” raise concerns about the president’s susceptibility to future blackmail and potential compromises to national security. Comer vows to hold President Biden accountable for what he perceives as corruption.
Read: Virginia Gov. Youngkin ‘Fires’ Eventbrite In Further Blowback For Canceling Of Riley Gaines
Meeting with Business Associates
While President Biden has maintained that he was never involved in his son’s business dealings, text messages obtained by Fox News Digital in 2020 tell a different story.
These messages reveal a meeting between Joe Biden and Hunter’s business associates for the Sinohawk venture, including Tony Bobulinski. The timing of this meeting, just days before an email discussing financial arrangements, raises further questions about the extent of President Biden’s involvement.
Tracing Chinese Payments
Comer’s investigation has also uncovered additional payments from Chinese companies to Joe Biden. The House Oversight Committee has learned that the Biden family and their business associates received significant payments from individuals and companies in China, Russia, Ukraine, Kazakhstan, and Romania. These payments, totaling more than $24 million between 2014 and 2019, raise concerns about the Biden family’s use of Joe Biden’s name as a brand.
Loans and Repayments
In addition to the Chinese payments, Comer’s committee has uncovered evidence of loans and repayments within the Biden family. James Biden received $600,000 in loans from a financially distressed rural hospital operator. These loans were reportedly based on the belief that James Biden’s last name could open doors and secure investments from the Middle East. On March 1, 2018, Americore wired a $200,000 loan into James and Sara Biden’s personal bank account, which was then promptly repaid to Joe Biden.
The White House’s Response
The White House has defended President Biden, stating that he loaned his own money to his brother when he needed it and was subsequently repaid. They argue that there is no evidence of wrongdoing or conflicts of interest. However, these assertions have done little to quell the concerns raised by Comer’s investigation.
Android Users, Click To Download The Free Press App And Never Miss A Story. Follow Us On Facebook and Twitter. Signup for our free newsletter.
We can’t do this without your help; visit our GiveSendGo page and donate any dollar amount; every penny helps