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Committee: President Biden received $40k in ‘laundered China money’ from brother

By CM Chaney · November 1, 2023

In brief…

  • House Oversight Committee alleges President Biden received $40k from Chinese company via personal check from brother's account in 2017
  • Check was labeled as "loan repayment" but committee claims it was "laundered China money"
  • Funds originated from Chinese energy firm CEFC linked to Hunter Biden joint venture
  • Committee vows to continue probing Biden family foreign business dealings
The House Oversight Committee claims it has evidence President Biden received $40,000 in 2017 from a Chinese company via his brother as a suspicious "loan repayment."  The White House / Wikimedia

House Oversight Committee Chairman James Comer said Wednesday that President Biden in 2017 received $40,000 in “laundered China money” from the bank account of his brother James Biden and sister-in-law Sara Biden.

Comer claims the payment came in the form of a personal check labeled as a “loan repayment”, while asserting that the president has “exposed himself to future blackmail” from Beijing.

Comer says the funds originated from CEFC, a Chinese energy company linked to the Chinese Communist Party. The congressman alleges Hunter Biden in 2017 demanded a $10 million payment from a CEFC associate while with his father, threatening consequences if the money was not paid.

Days later, $5 million allegedly flowed from CEFC to Hudson West III, a Hunter Biden joint venture. Hudson West III then reportedly wired $400,000 to Hunter’s company Owasco, which Comer says Hunter controlled.

James Biden then allegedly received $150,000 from Owasco. Comer claims Sara Biden withdrew $50,000 in cash from the company she owned with James, and deposited it into their personal account. “A few days later, Sara Biden cut a check to Joe Biden for $40,000,” Comer said, referring to a September 2017 check labeled “loan repayment.”

The congressman said the chain of payments shows President Biden financially benefited from his family’s dealings with China. Comer vowed to “continue to follow the money” and said he obtained the banking records through recent subpoenas.

The White House has previously said Biden was never in business with his son. President Biden has maintained he had no involvement in his family’s overseas business ventures.