House Committee on Oversight and Accountability Republicans, under the leadership of Chairman James Comer (R-KY), just released a bank records memorandum revealing how Joe Biden received $40,000 in laundered money from Communist China, in the form of a personal check from the account of his brother, James Biden, and his sister-in-law, Sara Biden
Last month, the House Committee on Oversight and Accountability released bank records showing that on March 1, 2018, Americore — a financially distressed rural hospital operator, wired a whopping $200,000 into James and Sara Biden’s personal bank account. On the very same day, James Biden wrote a $200,000 check from this same personal bank account directly to Joe Biden.
The Oversight Committee has obtained bank records showing how laundered China money traveled through a web of the Biden family’s bank accounts and landed with a $40,000 check made out to Joe Biden.
The Oversight Committee’s discovery of a $200,000 direct payment from James Biden to Joe Biden in the form of a personal check raised questions about the extent to which Joe Biden personally benefited from his family’s shady influence peddling of his name. It’s clear the money trail and shady business dealings didn’t end there.
The Oversight Committee can now trace $40,000 in laundered China money that landed in Joe Biden’s bank account. Here’s how it happened:
In August 2017, Hunter Biden demanded $10 million from a Chinese business associate to “further the interest” of his joint-venture with Chinese energy company CEFC, a CCP-linked Chinese energy company. As leverage in his deal with his CCP-linked associate, Hunter Biden claimed he was sitting with his father, Joe Biden, and would turn on the associate if he didn’t pay up.
Days later, $5 million dollars flowed from a Chinese affiliate of CEFC into Hunter Biden’s China joint venture entity. Over three weeks, Biden family members made a series of complicated financial transactions to hide the source of the China money.
Hunter’s China joint venture entity sent $400,000 to an entity owned and controlled by Hunter Biden. Next, Hunter Biden wired $150,000 to an entity owned by James and Sara Biden.
Sara Biden then withdrew $50,000 in cash from the entity and 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.”
Even if this is a “loan repayment,” Joe Biden benefitted from his family cashing in on his name – with money from China no less.
It’s plausible that this $40,000 payment to Joe Biden, where James and Sara Biden used funds from China, was in fact a loan repayment.
But if Joe Biden’s family owed him money, the ability of Joe Biden to be paid back depended on his family peddling his name and extorting a CCP-linked associate.
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.
Joe Biden has repeatedly lied about his family’s business dealings, especially with China, and must be held accountable.
While running for president, Joe Biden said his son Hunter has not made any money from China.
To date, President Biden has continued to deny that his family received money from China – despite bank records proving otherwise.
Hunter Biden himself has since admitted that he has been paid by China and now we know that China money also landed in Joe Biden’s bank account.
The House Oversight Committee will continue to follow the money and will hold President Biden accountable for his corruption.