President Joe Biden’s family received more than $10 million from foreign entities—mostly while he was vice president, according to information released Wednesday.
Republicans on the House Oversight and Accountability Committee issued a 36-page memo that made public a sampling of the thousands of pages of bank records regarding the Biden family and foreign entities.
The president has recently said the committee’s bank records showing his family’s receipt of funds from China are “not true.”
Documents tell the story of how Biden family members and various business associates created more than 20 companies during Biden’s vice presidency. The first family also used business associates’ companies to receive the foreign money, bank records show, according to the memo.
The committee determined foreign companies sent money to business associates’ companies and the Biden family received incremental payments over time to different bank accounts, in what Republicans say is an attempt to conceal large transactions, the memo says.
For example, records show that Chinese nationals and companies with close ties to Chinese intelligence and the Chinese Communist Party hid the source of the funds to the Biden family companies by layering in American limited liability companies.
“The Biden family and associates’ activities in coordination with Chinese nationals and their corporate entities appear to be an attempt to engage in financial deception,” the House Oversight memo says. “To be clear, multiple Biden family members received money from the Chinese after it passed through the Robinson Walker, LLC account. Additionally, Hunter Biden received money directly into his company’s account from a Chinese-controlled entity.”
The memo gives more information about Ye Jianming and his company, CEFC. Ye was reportedly deputy secretary-general for an international outreach arm of China’s People’s Liberation Army. He was detained by the Chinese Communist Party in 2018.
“The Bidens received millions of dollars from their Chinese partnership,” the memo says. “When Ye was detained by the Chinese, Hunter Biden then attempted to distance himself from the relationship by claiming he had never been paid by CEFC. This was false.”
While most of the previous information from the Oversight Committee focused on Hunter Biden’s business deals in China, Russia, and Ukraine, the new memo also focused heavily on Romania.
“The Biden family and associates’ activities in Romania bear clear indicia of a scheme to peddle influence from 2015 to 2017,” the memo says. “While Vice President Biden lectured Romania on corruption and ethics, Hunter Biden received—through Biden associate Rob Walker—over a million dollars from a company controlled by a Romanian individual accused of corruption.”
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