Monday, March 4, 2024

WSJ Opinion: Money from China Traced to Joe Biden’s Bank Account Unrelated to Actual Business – United States House Committee on Oversight and Accountability

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WASHINGTON—An email from a bank’s money laundering investigator obtained by House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) reveals Joe Biden’s son Hunter Biden received funds originating in China that the bank investigator was concerned were unrelated to actual business, Kimberly Strassel of The Wall Street Journal editorial board writes in a new column. The bank investigator flagged serious concerns about money from China which ultimately funded the $40,000 check to Joe Biden.

Key Excerpts:

“A red-flag document released this week from Oversight Chairman James Comer provides more evidence on the cashing-in point—and it comes from an impartial source.

“The document is a June 2018 email from an internal bank investigator—someone trained to look for money laundering—that flags suspicious activity within a Hunter Biden joint venture’s account. In his email to an executive at the bank, the investigator says he’s been monitoring Hunter given his designation as a PEP—an acronym for ‘politically exposed person,’ a class of client that poses a risk of bribery or corruption. The investigator then explains ‘account activity’ and ‘negative news’ indicate Hunter to be ‘high risk.’”

[…]

“The investigator queried why anyone was getting paid ‘millions in fees’ when ‘it does not appear’ there were ‘services rendered.’”

[…]

“A federal investigation and Internal Revenue Service whistleblowers have forced some coverage of whether Hunter paid appropriate taxes on his overseas earnings. Yet Oversight Committee investigators are probing the actual transactions, asking what Hunter did exactly to earn the payouts. The bank investigator was concerned that the Chinese money flowing into Hunter’s account was unrelated to actual business and suggested the bank re-evaluate its ‘relationship with the customer.’

“The email cites media reporting that Hunter’s ‘extravagant spending’ might have ‘put his family in a deep financial hole,’ and that there are reports of ‘China targeting children of politicians and purchase of political influence through ‘sweetheart deals.’ This email was written years before Hunter’s laptop went public and he became the target of a congressional investigation.”

[…]

Bank records obtained by the House Oversight Committee, meanwhile, show that at least $40,000 of that $5 million quickly ended up in a Joe Biden bank account—via his brother James, who recorded it as repayment of a loan.

“Democrats and media allies are pressing the point that it was a loan, obfuscating the larger picture, which is damning. The evidence all points to Joe being well aware of Hunter’s business forays—getting on the phone with Hunter during his son’s business meetings, entertaining prospective Hunter business clients, allowing his son to tag along on Air Force Two for business meetings. Hunter and James had also been in business together.

[…]

“He might not have proved able to stop his son or brother from cashing in on the family name, and he might never have taken an ‘official act’ on Hunter’s behalf. But he did aid Hunter in his brand selling, and money from that selling ended up in his account.”

READ MORE: Bank Investigator Raised Concerns About Money from China that Ultimately Funded $40,000 Payment to Joe Biden

Biden Family Investigation

CLICK HERE to read the full opinion piece.

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