Chris Lange, FISM News
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Senate Republicans finally got a hit on one of several outstanding requests for Biden family bank records, and it is from a surprising source.
The newly obtained transaction reports show that Hunter Biden and James Biden received millions from Chinese firms, according to Sen. Ron Johnson (R-Wis.). The records were provided to Senate Republicans by Cathay Bank, a Chinese-American financial institution with offices in Beijing and Los Angeles.
Johnson said the records expose the Biden family’s deep and profitable involvement with the now-defunct CEFC China Energy firm linked to the Chinese Communist Party. He told The Washington Times that the documents show that the firm gave $1 million to Hudson West III, a joint venture owned by Hunter Biden and Gongwen Dong, a business associate of CEFC founder and chairman Ye Jianming.
Few other details concerning the contents of the bank records were provided in the report, though Johnson proffered an intriguing theory as to why Cathay is so far the first and only bank to comply with the documents request.
“In my mind, it’s the Chinese government telling Joe Biden, ‘We got the goods on you, buddy. And we’re willing to dish it up,’” Johnson said.
Cathay Bank spokesman Ian Campbell denied the allegation in a statement to The Times.
“Cathay Bank, a NASDAQ-listed, U.S. financial institution for over 60 years, has cooperated with the House Committee on Oversight and Accountability’s request for information. The bank intends to continue to cooperate with the committee,” he said. He further asserted that Cathay “is neither owned by nor affiliated with the Chinese government in any way.”
Republicans have long accused the Biden family of enriching themselves through overseas influence-peddling schemes dating back to Joe Biden’s tenure as vice president. The GOP is specifically concerned that the family’s business dealings in China, Ukraine, and Saudi Arabia, have compromised the president. Many believe that Joe Biden is “the big guy” who took a cut of the profits, as referenced in documents found on Hunter Biden’s infamously abandoned laptop in 2020.
Armed with their newfound majority in the 118th Congress and ready for battle, Republicans on the House Oversight Committee launched a probe into alleged Biden family corruption in January. The investigation has so far uncovered a number of limited liability companies (LLCs) the Bidens allegedly used to accept money transfers from foreign entities. The probe has also expanded the number of Biden family members involved in the alleged scheme to include President Biden’s daughter-in-law Hallie Biden.
FISM reported on Tuesday that Committee Chair James Comer (R-Ky.) subpoenaed Biden family bank records from Cathay Bank, Bank of America, JPMorgan Chase, HSBC USA N.A., and Hunter’s former business associate Marvyn Yan.
What the Bidens may lack in terms of scruples, depending upon whom one asks- or, for that matter, any skills that might justify massive payouts from foreign firms – they appear to have no shortfall of friends willing to stick their necks out on the family’s behalf.
A U.S. Treasury Department official last month abruptly backed out of a scheduled hearing at the 11th hour. He was expected to testify about 150 Biden family bank transactions flagged as “suspicious.”
Rep. Comer at the time said he subsequently demanded that Jonathan Davidson, the assistant secretary for Treasury legislative affairs who bailed on the hearing, provide a transcribed interview. Should he fail to do so, Comer has vowed to issue subpoenas to gain access to the suspicious activity reports (SARS).
Comer’s Democratic colleagues on the Committee have accused Republicans of misrepresenting and/or withholding facts in the probe and said that the investigation lacks legitimacy.