President Joe Biden received a $40,000 check from his brother James as a “loan repayment” that was potentially sent by a Chinese Community Party (CCP)-linked company through a financial chain involving several members of the Biden family, according to new evidence unearthed by the House Oversight and Accountability Committee on Wednesday.
Hunter Biden initially demanded $10 million from an associate called Raymond Zhao, who had ties to the CCP and the now-bankrupt CEFC China Energy in 2017, explains House Oversight Committee chair James Comer.
Whereupon Northern International Capital, a Chinese company linked to CEFC, wired $5 million to a joint venture created by Zhao and Hunter Biden called Hudson West III. The joint venture then transferred $400,000 to Owasco P.C., owned by Hunter.
Hunter’s company Owasco, thereafter sent another $150,000 to Lion Hall Group, owned by James Biden. James’ wife Sara then withdrew $50,000 in cash, which was then deposited in the couple’s own bank account.
Several days later, $40,000 was sent to Joe Biden as a “loan repayment.”
“It’s certainly plausible that this payment where James and Sara used funds from China was indeed a loan repayment to Joe,” Comer stated.
“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,” he explained.
WATCH:
🚨 BREAKING 🚨
We’ve followed the money and identified how Joe Biden received $40,000 in laundered 🇨🇳 China money.
@RepJamesComer lays out the money trail. 👇 pic.twitter.com/lH69OUOHid— Oversight Committee (@GOPoversight) November 1, 2023
