Democrat Presidential candidate Joe Biden’s son, Hunter, goes under hot water as banks look into his activities.
In an investigation by two Senate committees, several foreign transactions with Hunter Biden triggered bank alarms as “potential financial criminal activity.”
Daily Caller reported that the Senate Homeland Security Committee and Senate Finance Committee investigations probe the young Biden during his father’s term as the US Vice President. The report cited more than four large transactions. Banks flagged the Suspicious Activity Reports (SARS) to the Financial Crimes Enforcement Network of the Treasury Department.
“The Treasury records acquired by the Chairmen show potential criminal activity relating to transactions among and between Hunter Biden, his family, and his associates with Ukrainian, Russian, Kazakh, and Chinese nationals,” the report stated.
The report also stated that the acquired documents show Hunter Biden received “millions of dollars from foreign sources” as business relationships built during and after his father’s tenure as the US Vice President.
The 87-page report of the two Senate committees does not indicate whether federal authorities have investigated Hunter Biden’s bank transactions.
“Potential criminal financial activity” flagged at least two transactions involving Hunter Biden and Chinese nationals, the report said.
Chinese billionaire Ye Jianming, owner of a CEFC China Energy subsidiary, sent a $100,000 payment to Hunter’s law firm, Owasco, in August 2017. The report said the activity was identified for potential criminal financial activity.”
Another suspicious transaction was marked a month later when a Chinese linked to Ye opened a credit line – under the business name Hudson West III LLC – with Hunter Biden. The credit line was opened on the same day the CEFC signed a much-heralded deal with Rosneft, a Russian oil giant, the report noted.
The credit line authorized Hunter Biden, Joe Biden’s brother, James, and James’s wife, Sara, to use all credit cards associated with the account. The three used the credit cards in their lavish expenses of airline tickets and various items at Apple Inc. store, hotels, pharmacies, and restaurants, the report said.
The report further noted that Hudson West III sent payments to Owasco, Hunter Biden’s law firm, which amounted to $4,790,375.25 in just over a year. The recurring payments were described as consulting fees.
Owasco started to transfer money to Lion Hall Group, James Biden’s consulting firm, days later. A total of 20 wires reached $1,398,999 to the bank account, which listed James Biden and his wife, Sara Biden. The bank transaction was likewise identified for potential criminal financial activity, the report stated.
The report also noted that Sara Biden was very uncooperative during the bank investigation. Sara told the bank that she would “not provide any supporting documents.” She also refused to explain the activity further.
The bank has submitted the account for closure.
Hunter Biden’s involvement in Burisma, a Ukrainian energy company, has long been perceived as a conflict of interest.
According to the report, Burisma started sending regular payments to Biden’s firm in January 2016 and ceased eight days after Donald Trump’s win in the November 2016 Presidential election. The transactions consisted of nine wires totaling $752,054.99.
With the Presidential spot at stake, Joe Biden and his family ought to answer the report, which they shrugged off as red’s conspiracy.
Hunter Biden’s bank activities are worth looking into. Political or otherwise.