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Chinese Company Funneled $40K to Joe Biden, Reveals Oversight Panel

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House Committee Reveals Alleged Money Laundering to Joe Biden via Chinese Company

On Wednesday, a prominent House committee unveiled a copy of a $40,000 check, claiming it was laundered through a Chinese company to Joe Biden in 2017, approximately eight months after he concluded his term as vice president. The check, dated September 2017, was issued by James and Sara Biden, the president's brother and sister-in-law, according to the House Oversight and Accountability Committee.

The Chinese Connection

The committee alleges that the check to Biden is connected to a Chinese energy company, CEFC, with which Hunter Biden, the president's son, and his brother had formed a partnership. The chairman of the committee stated that CEFC had ties to the Chinese Communist Party. The check is labeled as a "loan repayment," a notation similar to a $200,000 check to Biden released by the House committee last month.

Implications for National Security

James Comer, the Chairman of the House Oversight and Accountability Committee, expressed concern over the potential implications of these transactions. He suggested that by accepting funds linked to a company associated with the Chinese Communist Party, Joe Biden may have exposed himself to potential blackmail and prioritized personal financial gain over America's interests.

Impeachment Inquiry and Conflicting Statements

This revelation emerges as the Oversight Committee and two other House committees are conducting a formal impeachment inquiry into the president's actions. The bank records, which allegedly show money being directly transferred to Joe Biden, appear to contradict the president's repeated assertions that he never profited from his family's business dealings.

Investigations into the Biden Family's Business Dealings

House investigators have discovered that Biden family members operated at least 20 shell companies that generated tens of millions of dollars, primarily during Biden's tenure as vice president under Barack Obama from 2009 to 2016. In response to these allegations, White House spokesperson Ian Sams vehemently criticized Comer, dismissing his claims as lies and conspiracy theories.

Tracing the Money Trail

The committee also released a 12-page memo detailing the complex web of money transfers. According to the memo, Hunter Biden demanded a $10 million payment from associates at CEFC, the Chinese energy company, in a WhatsApp message to CEFC’s Raymond Zhao in July 2017. In the same message, Hunter claimed that his father was seated near him at the time.

Further Transactions and Alleged Loan Repayments

The memo outlines a series of transactions involving several companies, including Northern International Capital, another Chinese company affiliated with CEFC, and Hudson West III, a joint venture established by Hunter Biden and CEFC associate Gongwen Dong. It also details a series of transactions involving James and Sara Biden's company, Lion Hall Group, and concludes with Sara Biden writing a check to Joe Biden for $40,000, marked as a "loan repayment."

Implications and Consequences

Comer suggested that even if the $40,000 check was a loan repayment from James Biden, it still demonstrates how Joe Biden profited from his family capitalizing on his name, with funds originating from China. This revelation could have significant implications for the ongoing impeachment inquiry and the Biden family's business dealings.

Implications of Political Scandals for New Businesses

The recent revelations about Joe Biden's alleged financial ties to a Chinese company can have several implications for new businesses, particularly those operating in politically sensitive sectors.

Uncertainty in Business Environment

Such political scandals can create an uncertain business environment. New businesses may find it challenging to navigate this uncertainty, potentially affecting their investment decisions and growth strategies.
Impact on International Relations
Allegations of financial ties between high-ranking political figures and foreign companies can also impact international relations. This could affect businesses operating in international markets or those planning to expand overseas. In conclusion, while political scandals like the one surrounding Joe Biden can create challenges for new businesses, they also underscore the importance of maintaining ethical business practices. Businesses must be prepared to navigate the potential uncertainties and risks associated with such scandals and adapt their strategies accordingly.
Story First Published at: https://www.dailysignal.com/2023/11/01/40000-check-to-biden-linked-to-china-energy-company/
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