Bank records and documents obtained by the Republican-led House Oversight Committee suggest that President Joe Biden received a $40,000 payment from his brother, James Biden, in 2017 that may have originated from a Chinese company. While there is no definitive proof that the money was intended for President Biden, there are several pieces of circumstantial evidence that raise suspicion. For instance, a text message from Hunter Biden to his Chinese associates, in which he mentioned his father’s name, was sent just days before the money was wired to a Hunter Biden account.
The White House has yet to comment on the matter, but President Biden has vehemently denied any involvement or benefit from his family’s business ventures. However, Republican Representative James Comer argues that even if the $40,000 payment was a loan repayment, it still demonstrates how President Biden has benefited from his family capitalizing on his name, with funds from China, no less.
Chinese Funds Moved Through Biden Family Accounts to Joe Biden, Bank Records and Documents Suggest pic.twitter.com/fkzcEMmuMv
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Democrats on the Oversight Committee, including Representative Jamie Raskin, have refuted the Republican allegations, stating that there is no evidence of wrongdoing by President Biden. They consider the Republican subpoenas for private citizens’ financial records to be excessive.
Bank records indicate that the $40,000 payment moved through various Biden family accounts, which were either empty or funded by other Chinese deposits. The initial $5 million wire from CEFC China Energy-affiliated firm, Northern International Capital, was deposited into Hunter Biden’s joint venture account, which was empty at the time. The funds were then moved through the transaction chain, eventually reaching Joe Biden’s brother, James Biden. The sequence of transactions, combined with the near-empty nature of the accounts, suggests that the $40,000 may have originated from the initial Chinese payment.
Republican Congressman Comer concedes that it is “plausible” the money was a loan repayment; however, he points out that without the initial wire from Northern International Capital, James and Sara Biden would not have had the funds to write the check. This revelation follows the committee’s previous discovery of a $200,000 payment from James Biden to President Biden, which the president claimed was a loan repayment.
In light of these findings, Republicans criticise President Biden for potentially exposing himself to future blackmail and prioritising personal financial gain over America’s interests. House Democrats, on the other hand, maintain that the Republicans have failed to provide tangible evidence of wrongdoing. Nonetheless, recent polling suggests that a majority of Americans believe President Biden has acted either illegally or unethically in relation to his family’s foreign business affairs.