Banking and other records made public Wednesday by House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) depict a complex money laundering scheme involving millions of dollars, many from foreign countries, given to President Joe Biden and nearly a dozen members of his family.
In a memorandum summarizing findings to date of the House Committee on Oversight and Accountability, chaired by Comer (R-Ky.), investigators described examining thousands of bank records and legal documents depicting nearly two dozen Limited Liability Corporations (LLCs) established by Biden family members to receive payments from private clients, corporations and foreign governments, including China and Romania.
“Biden family members and business associates created a web of over 20 companies—most were limited liability companies formed during Joe Biden’s vice presidency,” the memorandum said. “Bank records show the Biden family, their business associates, and their companies received over $10 million from foreign nationals’ companies. The Committee has identified payments to Biden family members from foreign companies while Joe Biden served as Vice President and after he left public office.”
The memorandum continued, explaining that “despite creating many companies after Vice President Biden took office, the Biden family used business associates’ companies to receive millions of dollars from foreign companies. After foreign companies sent money to business associates’ companies, the Biden family received incremental payments over time to different bank accounts.
“These complicated financial transactions appear to conceal the source of the funds and reduce the conspicuousness of the total amounts made into the Biden bank accounts. Chinese nationals and companies with significant ties to Chinese intelligence and the Chinese Communist Party hid the source of the funds by layering domestic limited liability companies.”
The Kentucky Republican told journalists in a May 10 news conference that stacks of Suspicious Activity Reports (SARs) his committee obtained from the Department of Treasury and information received from whistleblowers leave little doubt that the scheme’s only product was selling access to the senior Biden during his vice-presidential tenure and thereafter.
Comer’s comments follow more than five years of steadily increasing media reports, first sparked in 2015 when it was learned that Hunter Biden, the president’s son, was appointed to the board of directors of Burisma, a controversial Ukrainian energy firm, and was paid more than $50,000 a month despite having no experience in the field.
Then Vice-President Biden had a major role in determining American energy policy at the time. With Europe moving rapidly to lessen its long-standing dependence on Russian natural gas, Burisma was in a position in which American influence could be decisive.
But Burisma was only part of the collection of LLCs revealed by the SARs which make clear that Hunter and Jim Biden, the president’s brother, have been linked to multiple foreign governments, government officials, celebrities, and state-controlled corporations in China, Russia, Romania, Ukraine, and elsewhere.
“The committee has uncovered evidence indicative of influence peddling and financial deception warranting further investigation and legislative solutions,” the memorandum said.
The memorandum also highlighted multiple past statements by President Biden in which he has firmly denied having knowledge of his son’s business activities or assisting them through his public offices in any manner.
“My son has not made money in terms of this thing about, what are you talking about, China. I have not had—The only guy who made money from China is this guy [Donald Trump]. He’s the only one. Nobody else has made money from China,” was how Biden put it in a statement quoted by the memorandum.
“The bank records refute President Biden’s statement. To date, President Biden has continued to deny that his family received money from China—despite bank records proving otherwise. In 2017 alone, bank records show President Biden’s family and their related companies received millions of dollars from Chinese foreign nationals’ companies. This amount does not include payments from Ukraine, Kazakhstan, Mexico, Romania, Oman, or other foreign business deals the Committee is investigating,” the memorandum said.
The White House issued a statement in response to Comer even before his news conference began, with Ian Sams claiming the event was nothing more than “a continuation of his long pattern of making absurd claims that President Biden has made governing decisions not in the interest of America, but of the Chinese Communist Party, using baseless claims, personal attacks, and innuendo to try to score political points.”
Sams is Special Assistant to the President and the designated White House spokesperson on the Hunter Biden and related corruption investigations.
This is a developing story, check back for updates.
From The Epoch Times