Explosive Revelations: Biden Family Accused of Money Laundering Scheme
Millions of Dollars from Foreign Entities Funneled to President Biden and Family
In a shocking development, House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) has made public a host of banking and other records that depict a complex money laundering scheme. The investigators contend that millions of dollars from foreign entities went to President Joe Biden and nearly a dozen members of his family.
The 36-page memorandum summarizing the findings of the House Committee on Oversight and Accountability describes how investigators examined thousands of bank records and legal documents. These documents depict nearly two dozen limited liability corporations (LLCs) established by Biden family members to receive payments from private clients, corporations, and foreign governments, including China and Romania.
Web of Over 20 Companies Created by Biden Family Members
According to the memorandum, “Biden family members and business associates created a web of over 20 companies—most were limited liability companies formed during Joe Biden’s vice presidency.” The bank records show that the Biden family, their business associates, and their companies received over $10 million from foreign nationals’ companies. The Committee has identified payments to Biden family members from foreign companies while Joe Biden served as Vice President and after he left public office.
Complicated Financial Transactions Conceal the Source of Funds
“These complicated financial transactions appear to conceal the source of the funds and reduce the conspicuousness of the total amounts made into the Biden bank accounts. Chinese nationals and companies with significant ties to Chinese intelligence and the Chinese Communist Party hid the source of the funds by layering domestic limited liability companies.”
Comer told journalists in a May 10 news conference that stacks of suspicious activity reports his committee obtained from the Treasury Department and information received from whistleblowers leave little doubt that the scheme’s only product was selling access to the senior Biden during his vice presidential tenure and thereafter.
Pattern of Influence Peddling
“I want to be clear that this committee is investigating President Biden and his family’s shady business deals that capitalized on Joe Biden’s public office and risked our country’s national security,” Comer told reporters at a press briefing on May 10.
“This committee has a duty to ask questions and to pursue the facts no matter where they take us. Through the committee’s investigation, we intend to provide transparency to the American people … in only four months, we have made astonishing progress.”
Rep. Byron Donalds (R-Fla.) cited his prior experience working in the banking industry in concluding that the multiple LLCs set up by the family were intended to hide the transactions.
“The question is, ‘To serve what purpose?’ The purpose of all these companies that were created is to conceal money that the Biden family has been gaining because Joe Biden has been sitting in the upper echelon of our national politics for almost five decades,” Donalds said.
Rep. Nancy Mace (R-S.C.) said, “For years, the left has said no one is above the law. Well, put your money where your mouth is and prove that because the American people do not trust the federal government, they don’t trust Congress, they don’t even trust current presidents because of the kind of possible and alleged corruption we see at every level.”
- Banking and other records made public on May 10 depict a complex money laundering scheme involving millions of dollars from foreign entities that investigators contend went to President Joe Biden and nearly a dozen members of his family.
- The Biden family created a web of over 20 companies to receive payments from private clients, corporations, and foreign governments, including China and Romania.
- The complicated financial transactions appear to conceal the source of the funds and reduce the conspicuousness of the total amounts made into the Biden bank accounts.
- The scheme’s only product was selling access to the senior Biden during his vice presidential tenure and thereafter.
- The multiple LLCs set up by the family were intended to hide the transactions.
These revelations have sent shockwaves through the political world and are sure to have far-reaching consequences. Stay tuned for further updates as this story develops.
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