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Rep. Elise Stefanik, Chairwoman
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Press Releases

House Republicans Uncover New Evidence in the Biden Family’s Influence Peddling Schemes

Washington, D.C., May 10, 2023

Republicans on the House Committee on Oversight and Accountability unveiled new evidence, including bank records that show influence peddling and business schemes by Joe Biden’s family. The thousands of pages of financial records reveal the vast web of companies set up by the Biden family and associates during Joe Biden’s Vice Presidency and the millions of dollars they received from foreign sources. 
 
FACTS ABOUT THE BIDEN FAMILY’S INFLUENCE PEDDLING SCHEMES
  • The Complicated Web of Biden Family and Associates’ Companies: Biden family members and business associates created a web of over 20 companies—most were limited liability companies formed after Joe Biden became Vice President. 
  • The Biden Family Received Millions of Dollars from Foreign Sources: Bank records show the Biden family, their business associates, and their companies received over $10 million from foreign nationals and their related companies. The Committee has identified payments to Biden family members from foreign companies while he served as Vice President and after he left public office.
  • The Biden Family Used Business Associates’ Companies to Receive Foreign Funds: 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. 
  • Attempts to Conceal Large Financial Transactions: 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 be meant to conceal the source of the funds and reduce the conspicuousness of the total amounts made into the Biden bank accounts.   
  • Chinese Nationals Hid the Source of the Money: Chinese nationals and companies with significant ties to Chinese intelligence and the Chinese Communist Party hid the source of the funds paid out to the Bidens by layering domestic limited liability companies. The Biden family and associates’ activities in coordination with Chinese nationals and their corporate entities appear to be an attempt to engage in financial deception. Multiple Biden family members received money from the Chinese after it passed through an associate’s account. Additionally, Hunter Biden received money directly into his company’s account from a Chinese-controlled entity.
  • Biden Family and Associates’ Activities in Romania Indicate Influence Peddling Scheme: The Biden family and associates’ activities in Romania bear clear indicia of a scheme to peddle influence from 2015 to 2017. While Vice President Biden lectured Romania on corruption and ethics, the Bidens family. received over a million dollars from a company controlled by a Romanian individual accused of corruption, Gabriel Popoviciu, through a Biden family associate.