Recent findings suggest President Joe Biden may have received $40,000 from China through his brother in 2017, raising concerns about potential implications for his presidency.
House Oversight Committee Chairman James Comer has made claims about President Biden's financial dealings with China.
Comer's investigation delves into the Biden family's business interactions, particularly focusing on transactions involving James Biden, the President's brother, and Hunter Biden, his son.
The probe has brought to light a $40,000 payment allegedly made to President Biden from a bank account belonging to his brother and sister-in-law.
The money, described as "laundered China money," is said to have been transferred in the form of a personal check, Fox News reported.
Comer emphasizes the significance of this revelation, suggesting that the President might have "exposed himself to future blackmail" from China.
Further details reveal that the money trail began in July 2017. Hunter Biden reportedly demanded a $10 million payment from an associate linked to the Chinese Communist Party-affiliated CEFC. He allegedly used his father's influence as leverage during this negotiation.
According to Comer, Hunter Biden sent a message to a Chinese business associate from the energy company CEFC. In this message, Hunter implied that non-compliance with his demands could lead to unfavorable consequences, hinting at the involvement of his father, Joe Biden.
Following this, funds began to flow. A sum of $5 million was reportedly sent from a Chinese affiliate of CEFC to a joint venture established by Hunter Biden. This money was then distributed among various entities, including companies owned by James Biden and his wife, Sara Biden.
By the end of August 2017, Sara Biden had allegedly withdrawn $50,000 from one of these companies and deposited it into a personal checking account. Shortly after, a check for $40,000 was made out to Joe Biden.
Comer suggests that even if this $40,000 was a genuine loan repayment, it demonstrates how the Biden family may have profited from their name, especially with funds originating from China. The entire scenario paints a picture of the Biden family potentially leveraging political influence for financial gain.
It's worth noting that the Biden family's business dealings with CEFC reportedly began while Joe Biden was serving as vice president. This timeline raises questions about the potential overlap of personal business interests with official duties.
Comer's investigation has also revealed other financial transactions involving the Biden family and various international entities. These transactions span countries like China, Russia, Ukraine, Kazakhstan, and Romania.
The White House has commented on these allegations, stating that the President had loaned money to his brother as a private citizen and was later repaid. However, Comer's findings suggest a more complex web of financial transactions that may warrant further scrutiny.
White House spokesman Ian Sams responded to the story on social media, dismissing Comer's claims as "lies and conspiracy theories." He further criticized Comer's approach to the investigation.
These allegations and the subsequent responses highlight the need for transparency and accountability in political dealings, especially when family members are involved in business transactions that could pose potential conflicts of interest.
As we reflect on these revelations, several key points emerge: