Daily Caller investigative reporter James Lynch on Thursday broke down the House GOP finding that President Joe Biden made a profit off his family’s dealings with Chinese business associates.
The House Oversight Committee released a memo containing bank records of transactions between the Biden family and Chinese business associates with Chinese energy company CEFC, which found that Biden received a $40,000 check in Chinese money in September 2017. The money, that Biden’s family wired to him, was ten percent of the money handed to his son, Hunter Biden.
“It’s a significant piece of evidence. For a while, the White House was saying that there is no direct evidence Joe Biden was involved with his son’s business dealings. Comer proceeded to release a $200,000 check James Biden wrote to Joe Biden,” Lynch told Daily Caller editorial director Vince Coglianese.
Banks sent suspicious activity reports showing Biden family associates brought in more than $24 million from foreign sources, Lynch added.
Lynch said the money did not go directly to Biden likely because the family wanted “to evade scrutiny.”
“It appears to show that the Biden family knew what was going on and it was using LLCs and business arrangements to try to evade scrutiny on the payments from China to Joe Biden,” Lynch said. “And it also shows the fact that Hunter Biden and James Biden were very closely involved with Chinese companies to the point where they had multiple entities.”
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The Biden family’s relationship with CEFC began when Biden was vice president, according to an FBI FD-302 quoting Hunter’s former business associate, Tony Bobulinski. Bobulinski provided the FBI with a hard drive full of communications with Hunter Biden and told the agency the New York Post’s laptop story was legitimate. (RELATED: Hunter Biden Says He Was ‘Office Mates’ With Joe Biden And A Chinese Business Associate, Emails Show)
An email thread from the abandoned laptop included Hunter Biden’s business associate James Gilliar in which he floated giving Joe Biden a 10% equity stake in a business deal.
“10 held by H for the big guy?” Gilliar asked Hunter Biden, Bobulinski and Rob Walker, another former business associate.
Bobulinski reportedly said in the thread that he spoke with Biden about the 10% business deal at a Beverly Hills, California, hotel in May 2017, according to the New York Post.
“We also know about the 10% for the big guy email thread that came out from the New York Post’s reporting and that Tony Bobulinski told the FBI was real and legitimate,” Lynch continued. “And that 10% business deal was something that Bobulinski said he discussed with Joe Biden in California after Joe Biden left office. So as you were saying, this began when Joe Biden was vice president and then it escalated after Joe Biden left office and had meetings with CEFC, according to Rob Walker, who is another Biden business associate, talked about it with Bobulinski and then as James Comer said, Hunter Biden threatened his Chinese business associate and then Hudson West III started the direction of funds from China.”
The bank records cited an FBI interview with Walker, who alleged that Biden attended a meeting with CEFC associates after his vice presidency. He said this meeting was likely a way to help his son secure a deal with CEFC, according to a transcript of the interview. Walker received $3 million from Chinese firm State Energy HK. He then sent about $1 million of those funds to the Biden family, according to bank records.