Cathay Bank Releases Records Showing Millions in Transactions Between Hunter Biden and Chinese Firms

According to Wisconsin GOP Senator Ron Johnson, Cathay Bank – a Chinese-American financial institution – has provided Senate Republicans with records showing millions of dollars in transactions between Chinese firms and Hunter Biden, son of President Biden. Republicans and others raised concerns during the 2020 White House campaign that Hunter Biden had used his family name and influence to secure millions in overseas business contracts, which may have compromised US national security.

The bank records apparently reveal that the Biden family was involved with CEFC China Energy, which had close ties to the Chinese Communist Party. Hunter Biden, along with Gongwen Dong – a business associate of CEFC’s founder and chairman Ye Jianming – reportedly co-owned Hudson West III, a joint venture that received $1 million from the defunct firm. According to Johnson, the records are evidence that the Chinese government could be using the Biden family’s questionable business dealings to exert influence on President Biden.

Bank statements were also provided relating to President Biden’s brother, James Biden. Cathay Bank has offices in China and Los Angeles. The bank gave the records to Johnson and Iowa GOP Senator Chuck Grassley, while other banks have refused to comply with the senators’ requests.