Chairman of the House Oversight Committee, James Comer, has asserted that President Biden was a recipient of $40,000 in funds indirectly sourced from China. Comer claims these funds were routed through the bank accounts of the President’s brother, James Biden, and his sister-in-law in 2017, alleging this as a case of laundered money. He further suggests that such financial transactions place the President in a vulnerable position, susceptible to potential blackmail by Chinese authorities.
Comer revealed these accusations during a Wednesday morning video presentation, following his subpoena of the bank records of both James Biden and Hunter Biden. This action is part of a broader investigation into the business operations of the Biden family and any potential involvement of the President.
Comer criticized President Biden for misleading the public regarding his son’s financial dealings in China, stating, “Remember when Joe Biden told the American people that his son didn’t make money in China? Well, it appears he was not truthful. Not only did Hunter profit in China, but it also seems that Joe Biden himself received $40,000, which we’ve traced back to laundered Chinese money.”
He explained that this series of transactions started in July 2017 when Hunter Biden sought a $10 million payment from an associate of CEFC, a company with links to the Chinese Communist Party. Hunter purportedly leveraged his father’s presence and influence during these negotiations, as detailed in a WhatsApp message shared by Comer.
In the shared messages, Hunter Biden appeared to intimidate a Chinese business partner from CEFC, indicating severe consequences for non-compliance. Hunter requested the $10 million for SinoHawk Holdings, a joint venture with CEFC.
Comer, based on the obtained bank records, traced the funds through a series of transactions, eventually leading to a personal payment to President Biden. He highlighted a $5 million transaction from a CEFC affiliate to Hudson West III, which is tied to Hunter Biden and his associate Gongwen Dong. A portion of these funds subsequently found their way to President Biden’s account.
Comer emphasized the questionable nature of these transactions, pointing out the potential conflict of interest and the ethical concerns surrounding the President’s financial gains from these dealings. He underscored his commitment to unraveling the full extent of these financial interactions and holding President Biden accountable.
While President Biden has consistently denied any business affiliations with his son, past communications, including text messages and emails, suggest that he may have had meetings with Hunter’s business partners.
In his ongoing investigation, Comer has unearthed over $24 million in payments received by the Biden family and their associates from various countries, including China, Russia, and Ukraine, between 2014 and 2019. He asserts that these funds were generated by capitalizing on Joe Biden’s prominence and influence.
Furthermore, Comer disclosed another instance in 2018 where President Biden allegedly received a $200,000 “loan repayment” from his brother, sourced from a loan provided by Americore, a struggling hospital operator.
Comer’s revelations have undoubtedly stirred controversy and raised serious questions about the integrity of the financial dealings involving the Biden family. As the investigation continues, the Committee vows to delve deeper into these transactions to uncover the truth and ensure accountability.
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