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Bank Records Show Biden Received Laundered Money From China, Comer Says

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WASHINGTON, DC - OCTOBER 31: U.S. President Joe Biden delivers remarks about retirement security in the State Dining Room at the White House on October 31, 2023 in Washington, DC. The Biden Administration is attempting to crack down on so-called "junk fees" in retirement accounts with a rule prosed by the U.S. Labor Department that would stop trusted advisors from recommending investments that are not in a client’s best interest but may pay the advisor a higher commission, among other regulations.
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House Oversight and Accountability Chairman James Comer (R-KY) said that bank records uncovered by lawmakers reveal that President Joe Biden received $40,000 in laundered money from China.

According to Comer, the money to Biden originated from Northern International Capital, a Chinese company affiliated with Chinese conglomerate CEFC. Eventually, it made its way to James and Sara Biden after going through a series of Hunter Biden-linked entities. James, the president’s brother, and his wife, Sara, then sent Joe Biden a $40,000 check as a “loan repayment.”

“Remember when Joe Biden told the American people that his son didn’t make money in China? Well, not only did he lie about his son Hunter making money in China, but it also turns out that $40,000 in laundered China money landed in Joe Biden’s bank account in the form of a personal check. And the Oversight Committee has it,” Comer said in a video message released by House Republicans explaining the new banking memorandum detailing the check. 

The memo said Northern International Capital sent $5 million to Hudson West III, a joint venture created by Hunter and a CEFC associate. On August 8, 2017, $400,000 was sent from Hudson West III to an entity affiliated with Hunter Biden. Then, on August 14, 2017, the Hunter entity sent $150,000 to the Lion Hall Group, an entity affiliated with James and Sara. 

On August 28, 2017, Sara withdrew $50,000 from the Lion Hall Group and deposited it into her and James’ personal checking account, according to Comer. On September 3, 2017, Sara then wrote the $40,000 check to Joe Biden, Comer said. 

“It’s certainly plausible that this payment where James and Sara used funds from China was indeed a loan repayment to Joe. But even if this $40,000 check was a loan repayment from James Biden, it still shows how Joe benefited from his family cashing in on his name – with money from China no less,” Comer said. 

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According to the timeline provided by Comer, the money transfers began just days after Hunter had reportedly invoked his father in a WhatsApp message to CEFC associate Raymond Zhao. 

Hunter reportedly wrote in a July 30, 2017, message to Zhao: “I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled. Tell the director that I would like to resolve this now before it gets out of hand, and now means tonight. And, Z, if I get a call or text from anyone involved in this other than you, Zhang, or the chairman, I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction. I am sitting here waiting for the call with my father.”

The message was first revealed by IRS whistleblowers who said their investigations into Hunter were hindered by leadership.

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