Bank records show $10 million in payments from China and foreign interests to Biden and family members, says House Oversight.

Explosive Revelations: Millions of Dollars in a Complex Money Laundering Scheme Involving President Biden and His Family

Banking and Other Records Reveal a Web of Over 20 Companies

The House Committee on Oversight and Accountability, chaired by James Comer (R-Ky.), has made public banking and other records that depict a complex money laundering scheme involving millions of dollars, many from foreign countries, given to President Joe Biden and nearly a dozen members of his family. The investigators examined thousands of bank records and legal documents depicting nearly two dozen Limited Liability Corporations (LLCs) established by Biden family members to receive payments from private clients, corporations, and foreign governments, including China and Romania.

The memorandum summarizing the findings to date of the House Committee on Oversight and Accountability reveals that “Biden family members and business associates created a web of over 20 companies—most were limited liability companies formed during Joe Biden’s vice presidency.” The committee has identified payments to Biden family members from foreign companies while Joe Biden served as Vice President and after he left public office.

Complicated Financial Transactions Conceal the Source of Funds

The memorandum further explains that “despite creating many companies after Vice President Biden took office, the Biden family used business associates’ companies to receive millions of dollars from foreign companies. After foreign companies sent money to business associates’ companies, the Biden family received incremental payments over time to different bank accounts. These complicated financial transactions appear to conceal the source of the funds and reduce the conspicuousness of the total amounts made into the Biden bank accounts.”

Selling Access to the Senior Biden During His Vice-Presidential Tenure and Thereafter

The Kentucky Republican, James Comer, told journalists in a May 10 news conference that stacks of Suspicious Activity Reports (SARs) his committee obtained from the Department of Treasury and information received from whistleblowers leave little doubt that the scheme’s only product was selling access to the senior Biden during his vice-presidential tenure and thereafter.

LLCs Linked to Multiple Foreign Governments, Government Officials, Celebrities, and State-Controlled Corporations

Comer’s comments follow more than five years of steadily increasing media reports, first sparked in 2015 when it was learned that Hunter Biden, the president’s son, was appointed to the board of directors of Burisma, a controversial Ukrainian energy firm, and was paid more than $50,000 a month despite having no experience in the field. But Burisma was only part of the collection of LLCs revealed by the SARs which make clear that Hunter and Jim Biden, the president’s brother, have been linked to multiple foreign governments, government officials, celebrities, and state-controlled corporations in China, Russia, Romania, Ukraine, and elsewhere.

Explosive Revelations Indicative of Influence Peddling and Financial Deception

The banking and other records made public by the House Committee on Oversight and Accountability reveal explosive revelations that are indicative of influence peddling and financial deception. The complex money laundering scheme involving millions of dollars, many from foreign countries, given to President Joe Biden and nearly a dozen members of his family is a cause for concern and warrants further investigation.

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