The House Committee on Oversight and Accountability, under the leadership of Chairman James Comer (R-KY), revealed new findings that suggest a series of complex financial transactions involving the Biden family. These revelations, presented through a video release and accompanying bank records, indicate that Joe Biden has indirectly benefited from funds originating from China.
In the summer of 2017, a series of messages were exchanged between Hunter Biden and Raymond Zhao, an associate from CEFC, a Chinese energy company linked with the Chinese Communist Party (CCP). The correspondence reveals that Hunter demanded a capital payment of $10 million while suggesting that his father, Joe Biden, was present during the conversation.
A Senate report from September 2020 titled “Hunter Biden, Burisma, and Corruption: The Impact on U.S. Government Policy and Related Concerns” reports over $5 million was sent to two Hunter Biden-related firms by the Chinese firm CEFC in early August 2017, which turns out to be just days after Hunter Biden sent a threatening WhatsApp text message on July 30, 2017 to Chinese business associate Henry Zhao that claimed Hunter’s father Joe Biden was “sitting here” with him.
The WhatsApp message was revealed as part of a package of IRS whistleblower statements and evidence released by the House Ways and Means Committee.
“I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled. Tell the director that I would like to resolve this now before it gets out of hand, and now means tonight. And, 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 directions. I am sitting here waiting for the call with my father.”
On August 8, 2017, Northern International Capital, a Chinese firm affiliated with CEFC, transferred $5 million to Hudson West III. This venture was co-established by Hunter Biden and Gongwen Dong, an associate of CEFC. On the same day, Hudson West III transferred $400,000 to Owasco, P.C., an entity owned by Hunter. Within a span of a few weeks, a series of transfers took place, culminating in Sara Biden, sister-in-law to the President, writing a $40,000 check to Joe Biden, labeled as a “loan repayment.”
Chairman Comer, in his remarks, reminded the public of Joe Biden’s previous claims that his family did not have financial dealings in China. He went on to explain the detailed money trail.
The report presented by the Oversight Committee suggests that the Biden family has used their name and influence to secure funds. It is insinuated that Hunter’s threats to the CEFC associate, under the pretext of backing from Joe Biden, played a role in facilitating the transfer of funds.
— Oversight Committee (@GOPoversight) November 1, 2023
Excerpt from the video via Oversight Committee:
Remember when Joe Biden told the American people that his son didn’t make money in China?
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.
And the Oversight Committee has it.
Here’s how Joe Biden benefited from his family’s shady deal with CEFC, a Chinese Communist Party linked company.
It all began with a shakedown in the summer of 2017, when Hunter Biden sent a message to his CEFC associate demanding a $10 million capital payment.
As Hunter Biden extorted this associate, Hunter claimed he was sitting with his father and that the Biden network would turn on his associate if he didn’t pony up the money.
The extortion scheme worked.
Days later, $5,000,000 flowed in from a Chinese affiliate of CEFC. Over the following three weeks, Biden family members made a series of complicated financial transactions to hide the source of the China money.
Here’s how that happened:
First, Northern International Capital, a Chinese company associated with CEFC, wired $5,000,000 to Hudson West III, a joint venture established by Hunter Biden and a CEFC associate.
Then, Hudson West III sent $400,000 to an entity owned and controlled by Hunter Biden.
Next, Hunter Biden wired $150,000 to Lion Hall Group, a company owned by Joe Biden’s brother James and sister-in-law Sara Biden.
Sara Biden then 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.
A few days later, Sara Biden cut a check to Joe Biden for $40,000. The memo line of the check said, “loan repayment.”
We previously exposed a $200,000 payment James made to his brother Joe that came from funds provided by a now bankrupt health care company called Americore.
Like the payment to Joe from Americore funds, it’s certainly plausible that this payment where James and Sara used funds from China was indeed a loan repayment to Joe.
But even if this $40,000 check was a loan repayment from James Biden, it still shows how Joe benefited from his family cashing in on his name – with money from China no less.
Without his family peddling his name and his son threatening a CEFC associate with consequences that he said Joe Biden knew about, James wouldn’t have had the money to write the $40,000 check to his brother Joe.
It’s also worth remembering that Biden family efforts to secure millions from this Chinese company began when Joe Biden was still Vice President.
In taking funds sourced to a CCP-linked company that wanted to advance China’s interests, Joe Biden exposed himself to future blackmail and put America’s interests behind his own desire for money.
The House Oversight Committee will continue to follow the money and will hold President Biden accountable for his corruption.
As The Gateway Pundit previously reported, the Committee also drew attention to another payment of $200,000 from James Biden to Joe Biden, which came from Americore, a now-defunct healthcare company.
The House Oversight Committee has no IRS records or loan documents confirming the $200,000 check Jim Biden wrote to his brother Joe Biden in 2018 was a ‘loan repayment.’
House Oversight Chairman James Comer is now demanding IRS records and applicable loan documents proving Joe Biden loaned his brother James money.
The Bidens often structure their income as ‘loans’ to avoid paying taxes. We saw this with a $5 million wire described as an ‘interest-free loan’ (a way for Hunter to avoid paying taxes) from a Chinese firm. The Bidens then shuffle the dirty money around to each other as ‘loan repayments.’ This is classic tax evasion, money laundering, and influence-peddling.
In 2018, Jim Biden received $600,000 in ‘loans’ from Americore Health LLC, a failing/bankrupt rural hospital operator. According to bankruptcy documents, Jim Biden received the loans “based upon representations that his last name Biden could open doors and that he could obtain a large investment from the Middle East based on his political connections.”
On March 1, 2018, Americore Health LLC wired a $200,000 payment to Jim and Sara Biden’s personal bank account. On that very same day, Jim Biden then wrote a $200,000 check to Joe Biden, AKA, “The Big Guy.”
Jim Biden wrote the check to Joe Biden as a so-called “loan repayment.” Does Joe Biden have documents proving he lent his brother such a large sum of money? “What were the terms?” Comer asked.
Jim Biden defrauded Americore with false claims he could save the company with the Biden name – and Joe Biden benefited from the fraud.
House Oversight Chairman James Comer on Thursday demanded Joe Biden provide loan documents (loan payment, loan agreement) and IRS filings regarding the $200,000 “loan repayment” James Biden said he made to Joe “The Big Guy” Biden in 2018.
James Comer said there appears to have been no interest paid on the “loan” based upon the White House’s own representations. “The current lack of documentation leaves reason to doubt claims that this transaction was repayment for a legal loan,” Comer wrote in a letter to White House Counsel Edward Siskel.
“Whether it was a loan or not, James Biden’s March 1, 2018, check to Joe Biden demonstrates one way he personally benefited from his family’s shady influence peddling of his name and their access to him. Even if the transaction in question was part of a loan agreement, we are troubled that Joe Biden’s ability to recoup funds depended on his brother’s cashing-in on the Biden brand,” Comer said.