At this point, what won’t Biden do for money?
House Oversight Committee Chairman James Comer has asserted that President Biden received $40,000 in questionable funds from a bank account linked to his brother and sister-in-law in 2017. Comer, a Republican from Kentucky, made these claims while suggesting that President Biden’s acceptance of this money could make him susceptible to future blackmail by Beijing.
According to Fox, Comer presented his findings in a video released on Wednesday, following the subpoena of personal and business bank records belonging to James Biden and President Biden’s son. This move is part of an investigation into the Biden family’s business activities and any potential involvement of the President.
According to Comer, the money trail initiated in July 2017 when Biden’s son demanded a $10 million payment from an associate of CEFC. In a WhatsApp message, Biden’s son mentioned that he was with his father and insinuated that the Biden network would take action against the associate if the payment was not made.
Subsequently, Biden’s son requested a $10 million wire for the SinoHawk Holdings joint venture with CEFC. Records, as cited by Comer, suggest that his “extortion scheme” was effective, resulting in $5 million being transferred from a Chinese affiliate of CEFC just days later.
On August 8, 2017, these funds were sent to Hudson West III, a joint-venture involving Biden’s son and CEFC associate Gongwen Dong. On the same day, Hudson West III transferred $400,000 to Owasco, P.C., a separate entity owned by Biden’s son.
By August 14, 2017, President Biden’s son wired $150,000 to Lion Hall Group, a company belonging to James Biden and his wife, Sara Biden. Subsequently, Sara Biden withdrew $50,000 in cash from Lion Hall Group and deposited it into her and James Biden’s personal checking account.
A few days later, Sara Biden issued a $40,000 check to Joe Biden, with the memo line indicating “loan repayment.” Comer emphasized that even if this check was indeed a loan repayment, it still implies that Joe Biden benefitted from his family’s financial dealings, including funds from China. The Biden family’s involvement with CEFC began while Joe Biden was serving as Vice President.
Comer accused Joe Biden of exposing himself to potential blackmail and prioritizing his financial interests over America’s. He pledged to continue tracking the money and holding President Biden accountable for any perceived corruption.
Despite President Biden’s claims that he was not involved in business with his son, text messages obtained in 2020 revealed a meeting between Joe Biden and his son’s business associates, including Tony Bobulinski, in May 2017. The committee’s ongoing investigation has unveiled additional payments from Chinese companies to Joe Biden, along with substantial sums received by the Biden family and their associates from various countries.
Additionally, the committee discovered evidence that in 2018, Joe Biden received a $200,000 payment from James and Sara Biden, which was labeled as a “loan repayment.” James Biden had reportedly received $600,000 in loans from Americore, a struggling rural hospital operator, based on his perceived political influence and connections.
The White House countered these claims by asserting that Joe Biden had merely loaned his own money to his brother when needed and was subsequently repaid, as indicated by bank records.