House panel alleges Joe Biden received $40K in Chinese funds.
House Oversight Committee: Biden Received $40,000 in Chinese Funds
President Joe Biden has come under scrutiny as House Oversight Committee chairman James Comer (R., Ky.) reveals in a captivating video and memo released on Wednesday that the president received a staggering $40,000 in funds originating from a Chinese company.
Hunter Biden’s Threats and Complicated Financial Transactions
In July 2017, Hunter Biden, the president’s son, made threats to Chinese energy conglomerate CEFC, which has partnerships with China’s communist government, demanding fulfillment of a monetary “commitment” for a project led by the Bidens. Shortly after, a jaw-dropping $5 million flowed in from a Chinese affiliate of CEFC, as highlighted in the compelling video released by Comer. Over the next three weeks, the Biden family engaged in a series of complex financial transactions to conceal the source of this Chinese money.
The Money Trail
According to the Comer video and memo, Northern International Capital, a CEFC affiliate, wired $5 million to Hunter Biden’s company, Hudson West III. From there, $400,000 was sent to another entity controlled by Hunter Biden, which then transferred $150,000 to a company owned by Joe Biden’s brother and sister-in-law, James and Sara Biden. Sara Biden subsequently withdrew $50,000 for her personal bank account and wrote a check of $40,000 to Joe Biden.
Photos and Business Discussions
Adding to the intrigue, photos have emerged placing Hunter Biden at his father’s house on the day he made the threats to CEFC, as reported by the Washington Free Beacon in June. This challenges Joe Biden’s repeated claims of never discussing business matters with his son.
The “Big Guy” and Equity Stake Allegations
Former Hunter Biden business associate Tony Bobulinski has long claimed that Joe Biden, referred to as the “big guy” in business emails, was involved in the CEFC deal and was set to receive a 10 percent equity stake in the family’s business venture.
“By accepting funds linked to a Chinese Communist Party-affiliated company that sought to advance China’s interests,” Comer emphasized in the video, “Joe Biden not only exposed himself to potential blackmail but also prioritized his personal financial gain over America’s interests.”
How do the financial transactions mentioned in the report raise concerns about possible conflicts of interest and foreign influence on the Biden family?
Ion wire transfer from a CEFC-affiliated company was made to Hunter Biden’s law firm, according to the Senate Finance and Homeland Security Committees’ report released in September 2020. These financial transactions raise serious concerns about possible conflicts of interest and potential foreign influence on the Biden family.
The House Oversight Committee’s Findings
The House Oversight Committee has been conducting an investigation into Hunter Biden’s financial dealings and potential influence peddling. Chairman James Comer’s recent video and memo highlight the alarming discovery of $40,000 in funds sent to President Joe Biden himself.
Comer states that the funds originated from a Chinese company known as Shanghai Municipal Electric Power Company, a state-owned enterprise tied to China’s government. The source of these funds raises significant questions about potential foreign influence over the current President of the United States.
Implications for Joe Biden’s Presidency
As President, Joe Biden is responsible for making crucial decisions that impact the United States and its relationship with China. The revelation of receiving funds from a Chinese company raises concerns about possible conflicts of interest and whether these financial transactions could influence his policies towards China.
This revelation also adds to the existing controversy surrounding Hunter Biden’s involvement in questionable business dealings overseas. The Senate report released last year highlighted numerous financial transactions and potential connections between Hunter Biden and foreign entities. The House Oversight Committee’s findings further contribute to the ongoing scrutiny of Hunter Biden’s activities and their potential impact on the Biden administration.
The Need for Transparency and Accountability
The House Oversight Committee’s investigation emphasizes the necessity of transparency and accountability in the highest levels of government. It raises important questions about the vetting process of presidential candidates and the potential for foreign influence on U.S. politics.
American citizens deserve to know whether their elected officials have financial ties that could compromise their decision-making abilities. The revelation of funds received by President Biden brings these concerns to the forefront and underscores the need for thorough investigations and proper checks and balances.
Conclusion
The House Oversight Committee’s revelation of President Biden receiving $40,000 in funds from a Chinese company adds to the ongoing scrutiny surrounding the Biden family’s financial dealings and potential conflicts of interest. These findings raise important questions about the potential influence of foreign entities on U.S. politics and the need for transparency and accountability in government.
As the investigation continues, it is crucial that the American public remains informed and that appropriate actions are taken to ensure the integrity of the U.S. political system.
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