Oversight Committee Releases Email From Bank Investigator Who Flagged Chinese Money Laundered Into Joe Biden’s Pocket
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House Committee on Oversight and Accountability Chairman Rep. James Comer released an email Wednesday from a bank money laundering investigator who raised concerns about “unusual” financial activity surrounding $5 million from a Chinese company. Notably, $40,000 of the $5 million “landed” in Joe Biden’s pocket.
The 2018 email subpoenaed by Comer details the bank investigator’s concerns over “the initial $5 million funding from Northern International Capital Holdings, a CEFC affiliated entity linked to the Chinese government, and the subsequent erratic payments to Hudson West III, Hunter Biden’s joint venture with a Chinese national, and Owasco, P.C, an entity owned by Hunter Biden,” the Oversight Committee wrote in a statement.
The bank investigator detailed how Hudson West III, which was not involved in any investment projects at the time, was paying millions of dollars to Owasco, P.C., even though Owasco was not providing the company any services. The bank investigator also suggested that this could be an example of “China targeting the children of politicians” and purchasing “political influence through ‘sweetheart deals.’”
“The bank investigator was so concerned about Hunter Biden’s financial transactions with the Chinese company, he wanted to re-evaluate the bank’s relationship with the customer,” said Comer.
According to the Oversight Committee, the funds flagged by the investigator that in part went directly to Joe Biden from the account of his brother, James Biden, and his sister-in-law, Sara Biden, are part of “a complex web of financial transactions that began with the initial $5 million funding from Northern International Capital Holdings.”
Below is the timeline.
- Aug. 8, 2017: Northern International Capital sent $5 million to Hudson West III. That same day, Hudson West III sent $400,000 to Owasco, P.C.
- Aug. 14, 2017: Hunter Biden wired $150,000 to Lion Hall Group, LLC, a company owned by President Biden’s brother James and sister-in-law Sara Biden.
- Aug. 28, 2017: Sara Biden withdrew $50,000 in cash from Lion Hall Group and then deposited the money into her and James Biden’s personal checking account on the same day.
- Sept. 3, 2017: Sara Biden cut a check to Joe Biden for $40,000 for a “loan repayment.”
Sara and James Biden supposedly sent Joe the $40,000 as “loan repayment.” “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,” said Comer. “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.”
“[W]e know that the sitting President of the United States knew about, participated in, and benefited from his family’s shady China dealings,” added Commer. “Joe Biden showed up to his son’s CEFC meetings and benefited from the money wired from China. The White House and their Corporate Media allies’ efforts to excuse and coverup this blatant corruption is appalling to the American people. House Republicans will continue to unearth the facts and provide the accountability the American people deserve.”
Evita Duffy-Alfonso is a staff writer to The Federalist and the co-founder of the Chicago Thinker. She loves the Midwest, lumberjack sports, writing, and her family. Follow her on Twitter at @evitaduffy_1 or contact her at evita@thefederalist.com.
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