U.S. News
The $1.5 billion question: Biden family money ties to China deeper than thought, email indicates
By Jake Beardslee · November 29, 2023
In brief…
- Bank investigator in 2018 flagged unusual transfers of large sums of money to Hunter Biden
- Investigator suggested transfers totaling $2.9 million appeared suspicious, with no clear services rendered
- Investigator raised concerns about Hunter Biden’s dealings in China and spending described by his ex-wife
- Chinese funds allegedly financed $40k check to Joe Biden from his brother James in 2017
- House Republican Comer says email shows issues raised about Biden before current investigation
According to FOX News reporter David Spunt, new evidence reveals a bank investigator in 2018 flagged “unusual” financial activity and transfers of large sums of money to Hunter Biden’s accounts. The investigator suggested the bank reconsider its relationship with Biden.
As per a June 2018 email released by the House Oversight Committee, a bank official raised concerns about wire transfers totaling over $2.9 million from a Chinese firm to Biden’s law firm, Owasco PC. The investigator wrote, “We find it unusual that approximately 58% of the funds were transferred to the law firm in a few months and the frequency of payments appear erratic.” They added, “It was also previously indicated that HUDSON WEST III LLC does not currently have any investment projects at this time, which raises further concerns as millions in fees are being paid but does not appear to have any services rendered by Owasco PC.”
The investigator also referenced “negative news regarding the beneficial owner of Owasco PC, Robert Hunter Biden” about “allegations by his ex-wife that there were financial concerns about his extravagant spending.” Furthermore, they noted recent news about “China targeting children of politicians and purchase of political influence through ‘sweetheart deals,’” specifically citing Hunter Biden’s “$1.5 billion dollar deal with the Chinese-State.”
Given these concerns, the investigator concluded the activity was “unusual with no current business purpose” and suggested the bank “re-evaluate” its relationship with Biden.
According to House Oversight Committee Chairman James Comer (R-KY), the Chinese funds ultimately financed a $40,000 check to President Joe Biden labeled as a loan repayment from Biden’s brother James in 2017. Comer stated that the newly revealed email shows the money laundering expert raised issues about Biden “long before” the committee’s investigation.
In response, Comer blasted “the White House and their Corporate Media allies’ efforts to excuse and cover up this blatant corruption,” calling their denials “appalling to the American people.”