HomeBudget & Tax NewsRep. James Comer: Joe Biden Received $40,000 in 'Laundered China Money'

Rep. James Comer: Joe Biden Received $40,000 in ‘Laundered China Money’

(The Center Square) – U.S. House Oversight Committee Chair Rep. James Comer, R-Ky., released more evidence Wednesday that he says back allegations that President Joe Biden personally benefited from his brother and son’s overseas business dealings, saying he received $40,000 in “laundered China money.”

Comer says the president’s son, Hunter Biden, who faces his own legal charges, allegedly laundered the money from overseas business deals using his father’s name. That money came from a Chinese energy company, CEFC.

“It all began with a shakedown in the summer of 2017, when Hunter Biden sent a message to his CEFC associate demanding a $10 million capital payment,” Comer said. “As Hunter Biden extorted this associate, Hunter claimed he was sitting with his father and that the Biden network would turn on his associate if he didn’t pony up the money. The extortion scheme worked. Days later, $5,000,000 flowed in from a Chinese affiliate of CEFC.”

Two IRS whistleblowers testified before Congress earlier this year that the Biden family and associates raked in more than $20 million from overseas deals using about 20 shell companies.

Comer said money was moved through those accounts to make it hard to track. He laid out a timeline in his latest release of evidence.

“First, Northern International Capital, a Chinese company associated with CEFC, wired $5,000,000 to Hudson West III, a joint venture established by Hunter Biden and a CEFC associate,” Comer said.

Comer said Hudson West III sent $400,000 to “an entity owned and controlled by Hunter Biden.”

“Next, Hunter Biden wired $150,000 to Lion Hall Group, a company owned by Joe Biden’s brother James and sister-in-law Sara Biden,” he added. “Sara Biden then withdrew $50,000 in cash from Lion Hall Group. Later the same day, she deposited it into her and James Biden’s personal checking account. A few days later, Sara Biden cut a check to Joe Biden for $40,000. The memo line of the check said, ‘loan repayment.’”

This evidence comes after Comer released evidence last month that the president received a direct payment of $200,000. Comer released a copy of a check apparently from James Biden, Joe Biden’s brother, to the president for that amount with the memo “loan repayment.”

Comer said that payment came after James Biden received $600,000 in loans from Americore, a struggling company that later filed bankruptcy. Comer points to the company’s bankruptcy filings, saying “James Biden received these loans ‘based upon representations that his last name, Biden, could open doors and that he could obtain a large investment from the Middle East based on his political connections.’”

As The Center Square previously reported, IRS whistleblowers, previous bank records and FBI documents have been put forward in recent months by the House Oversight Committee providing evidence for allegations that the Biden family and associates received more than $20 million from entities in several countries, including China, Russia and Ukraine.

Biden has repeatedly denied that he benefited from any overseas dealings. This latest evidence drew more attacks against the president. Rep. Elise Stefanik, R-N.Y., called it a “bombshell” report and Rep. Russell Fry, R-S.C., blasted Biden, saying he received “laundered China money.”

“Joe said Hunter Biden never received money from China, but turns out both Joe AND Hunter Biden received money,” he wrote on X, formerly known as Twitter.

Originally published by The Center Square. Republished with permission.

For more from Budget & Tax News.

For more public policy from The Heartland Institute.

Casey Harper
Casey Harper
Casey Harper is a Senior Reporter for the Washington, D.C. Bureau. He previously worked for The Daily Caller, The Hill, and Sinclair Broadcast Group. A graduate of Hillsdale College, Casey's work has also appeared in Fox News, Fox Business, and USA Today.

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