A financial crimes investigator tasked with detecting and combating money laundering raised red flags about upwards of a dozen “unusual” and “erratic” hefty wire transfers to accounts belonging to Hunter Biden as far back as 2018.
In an email released by the House Oversight Committee on Wednesday, a a Bank Secrecy Act manager raised concerns that the payments did not appear to correspond to “any services rendered” or any specific business purpose. He also raised concerns about Chinese government efforts to influence politicians and advised the bank to re-evaluate its relationship with the client.
In total, $40,000 worth of the payments from China ended up in then-Vice President Joe Biden’s bank account. The check has been explained as a “loan repayment” from the president’s brother, James Biden, according to previous revelations from House Oversight Committee Chair James Comer (R-KY).
🚨 BREAKING 🚨
In a 2018 email, a bank flagged serious concerns about the China money Hunter Biden received – $40,000 of which ultimately landed in Joe Biden’s bank account.
In the email, the bank’s money laundering investigator highlighted:
– Erratic Payments
– No Obvious… pic.twitter.com/XjxYnM0cfn
— Oversight Committee (@GOPoversight) November 29, 2023
The email was from a Bank Secrecy Act manager to an assistant vice president and branch manager of a financial institution. The names of the investigator, the vice president and the branch manager have all been redacted in the released copy of the June 26, 2018 email.
“We have been monitoring the subject customer due to the PEP designation and observations on the account activity as well as recent negative news indicate this entity to be high risk,” wrote the investigator.
“PEP designation” is short is short for “Politically Exposed Person,” meaning that the individual could be susceptible to corruption or bribery due to the nature of their prominent position, according to a report from Fox News.
“Since the initial funding of $5,000,000.00 from Northern International Capital Holdings (HK) Limited on 08/08/17 as a business loan, it was noted that there was no loan agreement document submitted,” the investigator’s email went on to say.
The financial crimes expert noted that funds in the account had “primarily funded 16 wires ranging from $157,393.19 to $400,000.00,” totaling more than $2.9 million to a redacted name and to “Owasco PC—Law Firm in D.C.” Owasco was an entity under the control of Hunter Biden.
“These payments were indicated as management fees and reimbursements,” the email noted.
“We find it unusual that approximately 58% of the funds were transferred to the law firm in a few months and the frequency of payments appear erratic,” the investigator wrote. “It was also previously indicated that HUDSON WEST III LLC 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.”
“Furthermore, there has been negative news regarding the beneficial owner of Owasco PC, Robert Hunter Biden (son of former U.S. Vice President- Joe Biden) regarding allegations by his ex-wife that there were financial concerns about his extravagant spending on his own interests (drugs, strip clubs, prostitutes, etc.) which may put his family in a deep financial hole,” the investigator noted. He also noted the emergence of more “recent negative news indicate China targeting children of politicians and purchase of 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,” he continued. “The management company’s purpose is to invest in companies that benefit Chinese government.”
In a press conference Wednesday, Comer noted that the investigator raised red flags as far back as 2018.
“President Biden’s son, brother, sister-in-law, and daughter-in-law collectively received millions from CCP linked entities. We’ve also revealed how Joe Biden received $40,000 in laundered China money in the form of a personal check from his sister-in-law,” Comer said.
“The White House and corporate media continue to move the goalposts as they seek to cover up for President Biden and his family. But make no mistake, financial records, emails, text messages, and witness testimony reveal that the Biden family enterprise is centered on Joe Biden’s political career and connections,” he continued. “Joe Biden knew about, participated, and benefited from these schemes. This is a national security threat at the highest level of government, and Americans demand accountability for the Biden corruption.”
As part of the impeachment inquiry into President Biden, the committee plans to interview several members of the Biden family, including Hunter, over the coming weeks and months.