President Joe Biden received $40,000 in funds that originated with a Chinese company, House Oversight Committee chairman James Comer (R., Ky.) said in a video and memo released Wednesday.
The president's son, Hunter Biden, in July 2017 threatened Chinese energy conglomerate CEFC, which has partnerships with China's communist government, to fulfill its monetary "commitment" for a Biden-led project. Days later, Comer said in the video, "$5 million flowed in from a Chinese affiliate of CEFC. Over the following three weeks, Biden family members made a series of complicated financial transactions to hide the source of the China money."
Northern International Capital, the CEFC affiliate, wired the $5 million to Hunter Biden's company, Hudson West III, according to the Comer video and memo. Hudson West III sent $400,000 of that money to another Hunter Biden-controlled entity, which in turn wired $150,000 to a company owned by Joe Biden's brother and sister-in-law, James and Sara Biden. Sara Biden then withdrew $50,000 for her personal bank account. From that money, she cut a $40,000 check to Joe Biden.
Hunter Biden in his July 2017 threats to CEFC emphasized that he was sitting next to his father, who at the time had recently left the vice presidency, and said that "we would like to understand why the commitment made has not been fulfilled." Photos place Hunter Biden at his father's house on the day he made the threats, the Washington Free Beacon reported in June, challenging Joe Biden's repeated claims that he never discussed business with his son.
Former Hunter Biden business associate Tony Bobulinski has long claimed that Joe Biden, called the "big guy" in business emails, was involved with the CEFC deal and was poised to receive a 10 percent equity stake in his family's business venture.
"In taking funds sourced to a [Chinese Communist Party]-linked company that wanted to advance China's interests," Comer said in the video, "Joe Biden exposed himself to future blackmail and put America's interests behind his own desire for money."