by Elizabeth Vaughn
For years, President Joe Biden insisted he had no knowledge of his son’s overseas business affairs. But after Hunter Biden’s former business partner and longtime friend Devon Archer testified before the House Oversight Committee in July that Joe Biden had appeared, either by speakerphone or in person, at Hunter Biden’s meetings with foreign business associates on at least 20 occasions, the White House was forced to change its narrative: The president was never in business with his son, nor is there any evidence of his involvement in his son’s deals.
As evidence of Biden’s involvement began to be corroborated by bank records, eyewitnesses, and text messages, Democrats were once again forced to pivot: Republicans have no direct evidence of his involvement, they argued. Show us the money.
It turns out that the third narrative wasn’t the charm for the beleaguered president. An examination of subpoenaed bank records by House investigators shows that Joe Biden very likely did benefit directly from the family’s overseas pay-to-play business. According to a Wednesday memorandum from the House Oversight Committee, Joe Biden received $40,000 in laundered funds from a joint account belonging to his brother James Biden and his wife Sara. House Oversight Committee Chairman James Comer (R-KY) told Fox News these funds can be traced directly back to China.
The House memo traces the convoluted path of a $5 million payment from an affiliate of CCP-tied Chinese energy company CEFC to Hudson West III, “a joint venture established by Hunter Biden and CEFC associate Gongwen Dong,” made on Aug. 8, 2017. On that same day, $400,000 flowed out of the Hudson West III account into that of Owasco, P.C., a business controlled by Hunter. From there, $150,000 was wired to the Lion Hall Group, a business owned by James and Sarah Biden, and they transferred $50,000 to their personal account. It ends with a $40,000 payment from James and Sarah Biden to Joseph R. Biden, Jr. on Sep. 3, 2017. In the memo section of the check were the words, “loan repayment.”
The House memo notes that the $40,000 “constitutes ten percent of the proceeds of the $400,000 wire from Northern International Capital to Hudson West III on August 8, 2017.” This is significant because in one of the most explosive emails found on Hunter Biden’s laptop, dated May 13, 2017, business partner James Gilliar specified the profit percentages that each participant would receive from the deal. Gilliar wrote: “10 held by H for the big guy?” Hunter would hold 10% of the profits from the joint venture with CEFC for “the big guy,” who many have indicated is a reference to Joe Biden.
The $5 million payment came just days after Hunter Biden’s now-infamous July 2017 “shakedown” message on WhatsApp. You may recall Hunter allegedly wrote: “I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled. Tell the director that I would like to resolve this now before it gets out of hand, and now means tonight.”
The message continued, “And, Z, if I get a call or text from anyone involved in this other than you, Zhang, or the chairman, I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction. I am sitting here waiting for the call with my father.”
Moreover, on Oct. 20, a House Oversight Committee news release announced that bank records revealed Joe Biden had received a $200,000 personal check on March 1, 2018 from James and Sara Biden.