WASHINGTON—House Oversight and Accountability Committee Chairman James Comer (R-Ky.) today released a video And memorandum on bank statements revealing how Joe Biden received $40,000 in laundered Chinese money into the account of his brother, James Biden, and sister-in-law, Sara Biden, in the form of a personal check.
The money trail begins in July 2017 when Hunter Biden demanded payment from his associate linked to the Chinese Communist Party (CCP). On July 30, 2017, Hunter Biden sent a message to Raymond Zhao, a CEFC associate, demanding a $10 million capital payment and claiming that his father, Joe Biden, was sitting in the room. CEFC is a Chinese energy company linked to the CCP. The Bidens started working with CEFC when Joe Biden was vice president.
On August 8, 2017, Northern International Capital, a Chinese company affiliated with CEFC, sent $5 million to Hudson West III, a joint venture established by Hunter Biden and CEFC associate Gongwen Dong. The same day, Hudson West III sent $400,000 to Owasco, PC, an entity owned and controlled by Hunter Biden. On August 14, 2017, Hunter Biden wired $150,000 to Lion Hall Group, a company owned by President Biden’s brother James and his sister-in-law Sara Biden. On August 28, 2017, Sara Biden withdrew $50,000 in cash from Lion Hall Group. Later the same day, she deposited it into her and James Biden’s personal checking accounts. On September 3, 2017, Sara Biden presented a $40,000 check to Joe Biden for “loan repayment.”
Below are President Comer’s video remarks:
Remember when Joe Biden told the American people that his son wasn’t making 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 Chinese money landed in Joe Biden’s bank account in the form a personal check.
And the Oversight Committee has it.
Here’s how Joe Biden benefited from his family’s shady deal with CEFC, a company linked to the Chinese Communist Party.
It all started with an upheaval in the summer of 2017, when Hunter Biden sent a message to his CEFC associate demanding a $10 million capital payment.
While Hunter Biden was extorting this associate, Hunter claimed that he was sitting with his father and that the Biden network would turn on his associate if he did not fork over the money.
The extortion scheme worked.
A few days later, $5,000,000 flowed in from a Chinese CEFC subsidiary. Over the next three weeks, Biden family members carried out a series of complicated financial transactions to hide the source of the Chinese money.
Here’s how it happened:
First, Northern International Capital, a Chinese company associated with CEFC, transferred $5,000,000 to Hudson West III, a joint venture created 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 transferred $150,000 to the Lion Hall Group, a company owned by Joe Biden’s brother James and his sister-in-law Sara Biden.
Sara Biden then withdrew $50,000 in cash from the Lion Hall Group. Later the same day, she deposited it into her and James Biden’s personal checking accounts.
A few days later, Sara Biden presented Joe Biden with a check for $40,000. The memo line on the check said “loan repayment.”
We previously revealed a $200,000 payment James made to his brother Joe that came from funds provided by a now-bankrupt healthcare company called Americore.
Like the payment to Joe from Americore funds, it is certainly plausible that this payment in which James and Sara used funds from China was indeed a loan repayment to Joe.
But even if that $40,000 check was a loan payment from James Biden, it still shows how Joe profited from his family cashing in his name — with money from China to boot.
Without his family peddling his name and without his son threatening a CEFC associate with consequences that he claims Joe Biden knew about, James would not have had the money to write the $40,000 check to his brother Joe .
It is also worth remembering that the Biden family’s efforts to obtain millions from this Chinese company began when Joe Biden was still vice president.
By accepting funds from a CCP-linked company that wanted to promote China’s interests, Joe Biden exposed himself to future blackmail and put America’s interests behind his own desire for money.
TThe House Oversight Committee will continue to follow the money and hold President Biden accountable for his corruption.