Bank Investigator Flagged ‘Unusual’ Chinese Payments behind $40k Check to Biden, Raised Possibility of Influence Peddling

A bank money-laundering investigator expressed serious concerns about a transfer of funds from China that ultimately trickled down to President Biden in the form of a $40,000 check from his brother, James Biden, according to an email obtained by the House Oversight Committee.

Biden received a $40,000 personal check from an account shared by his brother, James Biden, and sister-in-law, Sara Biden, in September 2017 — money that was marked as a “loan repayment.” The alleged repayment was sent after funds were filtered from Northern International Capital, a Chinese company affiliated with the Chinese energy firm CEFC, through several accounts related to Hunter Biden and eventually down to the personal account shared by James and Sara Biden.

Northern International Capital sent $5 million to Hudson West III, a joint venture established by Hunter Biden and CEFC associate Gongwen Dong on August 8.

On the same day, Hudson West III then sent $400,000 to Owasco, P.C., an entity owned and controlled by Hunter Biden. Six days later, Hunter Biden wired $150,000 to Lion Hall Group, a company owned by James and Sara Biden. Sara Biden withdrew $50,000 in cash from Lion Hall Group on August 28 and then deposited the funds into her and her husband’s personal checking account later that day. 

On September 3, 2017, Sara Biden wrote a check to Joe Biden for $40,000.

An unidentified bank investigator sent an email on June 26, 2018 to colleagues raising concerns about money sent from Hudson West III to Owasco P.C. The email said the $5 million in funds sent from Northern International Capital to Hudson West III were primarily used to fund 16 wire transfers totaling more than $2.9 million to Owasco PC. The wires were labeled as management fees and reimbursements.

“We find it unusual that approximately 58 percent of the funds were transferred to the law firm in a few months and the frequency of payments appear erratic,” the investigator wrote in the email, which the committee shared with National Review.

The investigator said Hudson West III “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 email also points to news at the time that indicated China had been targeting children of politicians and purchasing political influence through “sweetheart deals.”

“Specifically, Hunter Biden’s $1.5 billion dollar deal with the Chinese-State to establish a private-equity firm in which they manage the funds over time and make huge fees,” the email said. 

“The management company’s purpose is to invest in companies that benefit Chinese government,” it adds. “Thus, the activity on the account appears unusual with no current business purpose and along with the recent negative news … may require re-evaluation of [redacted] relationship with the customer.” 

House Oversight Committee chairman James Comer reacted to the letter in a statement on Wednesday.

“Long before our investigation into President Biden’s corruption, a bank money laundering investigator raised the exact concerns that we raised publicly about the Biden family business: ‘payments appear erratic,’ ‘does not appear to have any services rendered,’ ‘no current business purpose,’ and ‘China target[s] children of politicians and purchase of political influence through ‘sweetheart deals.’ Those are the words of a bank investigator who was just doing his job,” he said.

“The bank investigator was so concerned about Hunter Biden’s financial transactions with the Chinese company, he wanted to re-evaluate the bank’s relationship with the customer,” Comer added.

Comer goes on to say President Biden “knew about, participated in, and benefited from his family’s shady China dealings.”

“Joe Biden showed up to his son’s CEFC meetings and benefited from the money wired from China” he said. “The White House and their Corporate Media allies’ efforts to excuse and coverup this blatant corruption is appalling to the American people. House Republicans will continue to unearth the facts and provide the accountability the American people deserve.”

The Bidens began working with CEFC, a Chinese energy company linked to the CCP, when Joe Biden was vice president. Hunter Biden sent a WhatsApp message to CEFC associate Raymond Zhao on July 30, 2017, demanding a $10 million payment.

“I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled. I am very concerned that the Chairman has either changed his mind and broken our deal without telling me or that he is unaware of the promises and assurances that have been made have not been kept,” the message read.

“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,” he added.

The next day, Hunter Biden asked to reshape the partnership to exclude James Gilliar, Rob Walker, and Tony Bobulinski, leaving CEFC working only with James Biden.

“CEFC is willing to cooperate with the family,” Zhao replied.

Walker told the FBI that Biden appeared at a CEFC meeting in Washington, D.C. with Hunter Biden. Walker acknowledged that the younger Biden had his father attend in order to increase the chances of getting a deal to work out.

Former Hunter Biden business associate Devon Archer previously testified that then–vice president Biden joined at least 20 phone calls and/or in-person meetings with Hunter’s foreign business associates during their time working together. He explained that access to the vice president served as the selling point of the Biden “brand” that allowed him and Hunter several lucrative financial opportunities, including joining the board of Burisma.

At the time, Burisma’s founder and CEO Mykola Zlochevsky was being investigated by Ukrainian prosecutor Viktor Shokin, whom the elder Biden later bragged about having fired.

Click here to read the full article in the National Review