On Wednesday, the House Oversight Committee’s staff will review suspicious activity reports sent by banks to the Treasury Department that alerted potential criminal activity involving President Biden’s family.
The review is expected to accelerate Republican Committee Chairman James Comer’s investigation of Joe Biden’s links to ventures in China, Russia, and Ukraine.
Banks are required to submit SARs to the Treasury Department’s Financial Crimes Enforcement Network within 30 days of identifying potentially criminal activity, such as money laundering or tax evasion.
The committee’s review of the documents is likely to expose new details about the Biden family’s international business ventures.
Hunter Biden and James Biden pursued consulting work and investments in various countries, often involving Joe Biden directly in those business relationships.
Republicans say the international business deals create conflicts of interest for the commander-in-chief and may even demonstrate corruption.
Comer has demanded records from various sources and on Monday night alleged that freshly retrieved bank documents reveal that a “new Biden family member that’s never before been included in any of these investigations” received part of a $3 million payment from a Chinese energy company in early 2017.
Hunter and James Biden received at least $4.8 billion from CEFC China Energy in 2017 and 2018, according to a Washington Post review of documents from Hunter Biden’s abandoned laptop.
The suspicious activity reports may flesh out other less-well-understood dealings of the Biden family.
Although Hunter Biden famously earned up to $1 million per year to serve on Ukrainian gas company Burisma beginning in 2014 while his father led the Obama administration, his association with a pair of Russian billionaires, Yelena Baturina and Vladimir Yevtushenkov, remain less understood.
Both billionaires have managed to avoid President Biden’s sanctions aimed at Russia’s elite over the one-year war in Ukraine.
Biden allies previously sought to downplay his association with Baturina.
Hunter and James Biden also actively courted business from Mexico’s business elite, who Joe Biden hosted at the vice president’s residence in DC in 2015 before flying Hunter and business associate Jeff Cooper to Mexico City aboard Air Force One on an official trip in 2016.
Hunter Biden wrote that he paid as much as “half” of his income to his father and is under federal investigation by the US attorney’s office in Delaware for possible tax fraud, illegal foreign lobbying, money laundering, and lying about his drug use on a gun-purchase form.