WASHINGTON – Bank money laundering experts raised internal alarms in 2018 about Hunter Biden’s eldest son receiving millions of dollars from Chinese government-linked businesses without “any services rendered,” an email released Wednesday by House Republicans shows.
The document was drafted by Bank Secrecy Act managers who expressed concern about a transfer of more than $5 million by a Chinese company in 2017 within days of Hunter threatening to anger his father — with the expert noting that the funds were described without evidence as “loans.”
“Since the initial funding of $5,000,000.00 from Northern International Capital Holdings (HK) Limited on 08/08/17 as a business loan, it was observed that no loan agreement documents were submitted,” wrote the bank official, whose name and employer were redacted in the Committee’s release Hall Monitoring.
“The funds in the account have financed 16 wires [to a Hunter Biden-owned law firm]. These payments are shown as management fees and reimbursements,” the email author continued.
“We found it remarkable that about 58% of the funds were transferred to the law firm in a few months and that the frequency of payments appeared to be erratic,” the bank’s experts wrote.
“It has also been stated before [initial funds recipient] HUDSON WEST III LLC does not currently have any investment projects at this time, which raises further concerns as millions in fees are being withheld but apparently do not have any services provided by Owasco PC.
Bank money laundering experts raised internal alarms in 2018 about Hunter Biden’s eldest son receiving millions of dollars from Chinese government-linked businesses without “any services rendered.” AP
The email added that Hunter Biden’s ex-wife, Kathleen Buhle, had claimed “concerns about his lavish spending for his own interests (drugs, strip clubs, prostitutes, etc.)” and that “recent negative news shows China targeting children children of politicians and the purchase of political influence through ‘sweetheart deals’.”
The anti-money laundering expert noted that Hunter Biden was part of a separate Chinese venture in 2013 — that is, co-founded BHR Partners, whose “purpose is to invest in companies that benefit the Chinese government.”
Hunter’s China link “may require a re-evaluation of the relationship with the client,” the bank official wrote, asking for feedback from colleagues – though it was unclear what they might say in response.
Oversight Committee Chairman James Comer (R-Ky.) said the message underscored the importance of the ongoing impeachment inquiry into President Biden’s ties to his family’s efforts in China, Ukraine and other countries during and immediately after his vice presidency.
House Oversight Committee Chairman James Comer said the message underscored the importance of the ongoing impeachment inquiry into President Biden’s ties to his family’s efforts in China, Ukraine and other countries. AP
“Long before our investigation into President Biden’s corruption, bank money laundering investigators raised the exact concerns we raised publicly about the Biden family’s business: ‘payments appear erratic,’ ‘appears to have no services rendered,’ ‘no current business purpose ,’ and ‘target China[s] the children of politicians and the purchase of political influence through ‘sweetheart deals,’” said Comer.
“Those are the words of a bank investigator who has just completed his duties. The bank’s investigators were so concerned about Hunter Biden’s financial transactions with the Chinese company, he wanted to reevaluate the bank’s relationship with the customer.”
Comer, himself a former bank director, claimed on November 1 that $40,000 in Chinese funds apparently went into Joe Biden’s bank account after being received by his brother James Biden, Hunter’s partner in the venture.
The transfer is labeled as “loan repayment.”
Comer, who is also a former bank director, claimed on November 1 that $40,000 in Chinese funds apparently went into Joe Biden’s bank account after being received by his brother James Biden, Hunter’s partner in the venture. AFP via Getty Images
Experts note that describing payments as loans is sometimes done to avoid tax liability.
House Democrats say there is evidence Joe Biden loaned his brother the same amount, but Republicans say the funds came from a law firm, clouding the picture, and argue that despite the loan agreement, Joe Biden was repaid using Chinese government-linked funds.
The acquittal comes as a Los Angeles grand jury considers federal charges against Hunter Biden for failing to pay about $2 million in taxes on foreign income — after Hunter in July walked away from a plea deal only in a trial that critics criticized as a sweetheart deal.
Hunter could also face money laundering charges or charges for allegedly violating the Foreign Agents Registration Act.
A $5 million transfer from the same deal with CEFC China Energy in which Joe Biden, referred to as “the big guy,” was cut 10% in May 2017.
Joe Biden was also listed as a participant in an October 2017 call about the firm’s attempt to buy US natural gas.
Hunter drew his father’s ire in a July 2017 text message demanding CEFC’s China-based affiliate proceed with the business deal, writing he was “sitting here with my father.”
In the 10 days following the threat, $5.1 million flowed into Biden-related accounts — following an initial level of $1 million in March 2017, less than two months after Joe Biden ended his vice presidency.
The White House and Hunter Biden’s legal team did not immediately respond to The Post’s request for comment.
Categories: Trending
Source: thtrangdai.edu.vn/en/
