Staff Reports
Bank records and other documents obtained by the Republican-led House Oversight Committee suggest that President Joe Biden received a $40,000 payment from his brother, which may have originated from a Chinese firm. The evidence, while not conclusive, includes a text message from Hunter Biden to his Chinese associates mentioning his father’s name shortly before the money was transferred. Republican representative James Comer has accused President Biden of benefiting from foreign funds, though he acknowledged that the payment may have been a loan repayment.
The bank records reveal a trail of transactions that lend credibility to the claim that the $40,000 came from the Chinese firm. The Biden family accounts involved in the movements of the funds were mostly empty or funded by other deposits from Chinese entities. The initial $5 million wire from Northern International Capital, an affiliate of CEFC China Energy, was deposited into Hunter Biden’s joint venture account, which was empty at the time. From there, Hunter Biden transferred $400,000 to his professional corporation, which had received $100,000 from a Chinese entity a few days earlier. Hunter Biden then wired $150,000 to Joe Biden’s brother’s account, which previously only held $1,964. After various purchases and withdrawals, James Biden’s wife eventually wrote a $40,000 check to Joe Biden.
Chinese Funds Moved Through Biden Family Accounts to Joe Biden, Bank Records and Documents Suggest https://t.co/fkzcEMmuMv
— The Epoch Times (@EpochTimes) November 2, 2023
The committee’s findings are connected to a failed venture involving Hunter Biden and other associates, which at one point included a 10% stake for “the big guy.” President Biden has denied any involvement or knowledge of his family members’ business affairs. However, former business associate Tony Bobulinski revealed in an FBI interview that Hunter Biden and Joe Biden’s brother worked on behalf of the Chinese firm while Joe Biden was vice president. The revelations about the financial transactions have led to accusations of impropriety and possible future blackmail against President Biden.
Despite the committee’s findings, the Democrats’ ranking member on the Oversight Committee, Jamie Raskin, maintains that there is no evidence of wrongdoing by President Biden. Recent polls show that a majority of Americans believe President Biden has acted illegally or unethically regarding his family’s foreign business affairs, though most Democrats disagree. The White House has not responded to the allegations, and President Biden continues to deny any benefits from his family’s business ventures.
