WASHINGTON—House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) today released a video and bank records memorandum revealing how Joe Biden received $40,000 in laundered China money from the account of his brother, James Biden, and his 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 Chinese Communist Party (CCP) linked associate. On July 30, 2017, Hunter Biden sent a message to Raymond Zhao—a CEFC associate—demanding a $10 million dollar capital payment and claimed his father, Joe Biden, was sitting in the room. CEFC is a Chinese energy company linked to the CCP. The Bidens began 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. That same day, Hudson West III sent $400,000 to Owasco, P.C., 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 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 account. On September 3, 2017, Sara Biden cut a check to Joe Biden for $40,000 for a “loan repayment.”
Below are Chairman Comer’s video remarks:
Remember when Joe Biden told the American people that his son didn’t make 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 China money landed in Joe Biden’s bank account in the form of a personal check.
And the Oversight Committee has it.
Here’s how Joe Biden benefited from his family’s shady deal with CEFC, a Chinese Communist Party linked company.
It all began with a shakedown in the summer of 2017, when Hunter Biden sent a message to his CEFC associate demanding a $10 million capital payment.
As Hunter Biden extorted this associate, Hunter claimed he was sitting with his father and that the Biden network would turn on his associate if he didn’t pony up the money.
The extortion scheme worked.
Days later, $5,000,000 flowed in from a Chinese affiliate of CEFC. Over the following three weeks, Biden family members made a series of complicated financial transactions to hide the source of the China money.
Here’s how that happened:
First, Northern International Capital, a Chinese company associated with CEFC, wired $5,000,000 to Hudson West III, a joint venture established 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 wired $150,000 to Lion Hall Group, a company owned by Joe Biden’s brother James and sister-in-law Sara Biden.
Sara Biden then withdrew $50,000 in cash from Lion Hall Group. Later the same day, she 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.”
We previously exposed a $200,000 payment James made to his brother Joe that came from funds provided by a now bankrupt health care company called Americore.
Like the payment to Joe from Americore funds, it’s certainly plausible that this payment where James and Sara used funds from China was indeed a loan repayment to Joe.
But even if this $40,000 check was a loan repayment from James Biden, it still shows how Joe benefited from his family cashing in on his name – with money from China no less.
Without his family peddling his name and his son threatening a CEFC associate with consequences that he said Joe Biden knew about, James wouldn’t have had the money to write the $40,000 check to his brother Joe.
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.
The House Oversight Committee will continue to follow the money and will hold President Biden accountable for his corruption.
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