Staff Reports
House investigators have made a significant discovery that could potentially raise questions about President Biden and his family's financial dealings. According to their findings, investigators have come across a $40,000 check dated September 3, 2017, sent to President Biden from his brother and sister-in-law's personal checking account, labeled as a "loan repayment." However, investigators suspect that it might be related to a business arrangement with a Chinese energy company that took advantage of Biden's role as vice president.
The money trail has led investigators to a business venture involving Joe Biden's son, Hunter Biden, his brother James Biden, and the now-defunct Chinese energy company CEFC, which had links to the Chinese Communist Party. House investigators claim that this $40,000 check is the second significant payment from James Biden to President Biden that they have uncovered. Last month, they obtained bank records showing that Biden received a direct payment of $200,000 after James Biden secured a business deal with a rural hospital operator.
House investigators say money trail ties $40,000 payment from China to President Biden https://t.co/SZacLoOar6
— The Washington Times (@WashTimes) November 1, 2023
The specifics of how the funds from CEFC ended up in President Biden's bank account are detailed in a memo by Oversight Committee Chairman James Comer. According to the memo, records and witness testimony suggest that James and Hunter Biden initiated their business relationship with CEFC while Joe Biden was still vice president. To avoid any appearance of impropriety, they delayed a $3 million payout, considered a "thank you," until six weeks after Biden left office. This payment was supposedly intended for James and Hunter Biden and several associates who had worked to advance CEFC's international interests.
The investigation has also revealed a series of financial transactions involving shell companies and bank accounts linked to Hunter Biden and James Biden. CEFC transferred $5 million to a newly established company, Hudson West III, jointly operated by Hunter Biden and a Chinese national associated with CEFC. Subsequently, Hunter Biden moved $400,000 to his law firm and then $150,000 to a company owned by James and Sara Biden. Finally, Sara Biden issued a $40,000 check to President Biden.
President Biden has denied any involvement in his family's business dealings. However, witness testimonies, emails, text messages, and other documents have prompted the Oversight Committee to initiate an inquiry into whether Biden leveraged his role as vice president for personal gain. The committee is requesting evidence to substantiate the claim that the $240,000 in payments from James and Sara Biden were indeed loan repayments. The lack of such evidence could further fuel suspicions that Biden may have used his political influence to benefit himself and his family members.
