published : 2023-11-30
Money laundering investigator raises concerns over Hunter Biden's payments from China in 2018
Investigator warns of 'unusual' and 'erratic' transactions that funded $40,000 payment to Joe Biden
A bank investigator responsible for detecting and combating money laundering flagged 'unusual' and 'erratic' activity in 2018 related to wire transfers involving Hunter Biden, according to an email released by the House Oversight Committee.
The investigator, whose name and the bank's name were redacted, expressed concerns that the payments did not appear to correspond to any services rendered and highlighted Chinese efforts to target the children of politicians.
The funds from China eventually funded a $40,000 check labeled as a loan repayment to Joe Biden from his brother, says House Oversight Committee Chairman James Comer.
The email, dated June 26, 2018, revealed that the bank had been monitoring Hunter Biden due to his 'Politically Exposed Person' designation and observed unusual activity in his account.
The investigator noted that the account had primarily funded 16 wire transfers ranging from $157,393.19 to $400,000.00, totaling over $2.9 million.
The investigator found it unusual that approximately 58% of the funds were transferred to a law firm within a few months and raised concerns about the lack of apparent services rendered.
Furthermore, the investigator highlighted negative news regarding Hunter Biden's extravagant spending on personal interests, the influence of his family's financial concerns, and China's targeting of politicians' children for 'sweetheart deals.'
The email also mentioned Hunter Biden's $1.5 billion deal with a Chinese-state firm to establish a private-equity firm that benefits the Chinese government.
As a result, the investigator suggested re-evaluating the bank's relationship with the customer, given the suspicious transactions and negative news surrounding Hunter Biden.
Last month, the Oversight Committee obtained bank records showing that $5 million was sent to a joint-venture established by Hunter Biden and a Chinese Communist Party-linked individual.
On the same day, $400,000 was sent from the joint-venture to a firm controlled by Hunter Biden.
The records also revealed that Hunter Biden wired $150,000 to a company owned by his uncle James Biden and his wife, who later withdrew $50,000 in cash and wrote a check for $40,000 to Joe Biden, labeled as a loan repayment.
Chairman Comer highlighted that the money laundering concerns raised by the investigator predate the committee's investigation and criticized the alleged involvement and benefit that President Joe Biden had from his family's dealings with China.
Comer condemned the White House and the media for their attempts to excuse and cover up this alleged corruption, calling it appalling to the American people.