In a recent move, House Republicans have spotlighted the financial ties between President Joe Biden’s family and foreign sources. A memo released by the GOP staff of the House Oversight Committee delves into the financial transactions involving Biden’s son, Hunter. This comes amidst heightened scrutiny due to an ongoing federal criminal investigation into Hunter Biden’s dealings.
The memo reveals that bank records indicate payments amounting to millions of dollars from oligarchs in Russia, Ukraine, and Kazakhstan to Hunter Biden, his business ventures under Rosemont Seneca, and his associate, Devon Archer. These payments were made during Joe Biden’s tenure as vice president. Some of these transactions were for specific services, like Hunter’s position on the board of the Ukrainian energy firm, Burisma Holdings. However, the nature of other payments remains ambiguous.
Oversight Chairman James Comer (R-KY) commented on the findings, pointing out instances where then-Vice President Joe Biden had meals with global oligarchs who had financial ties with his son. Comer emphasized the significance of these interactions, suggesting that they were more about leveraging the Biden name than any substantial business dealings.
Further insights from a House Oversight Committee session revealed that Devon Archer, Hunter’s business partner, confirmed Joe Biden’s presence at dinners with their business associates. The transcript, which has been partially redacted, indicates that while Joe Biden was present, no significant discussions took place. However, Archer did highlight the value of the Biden family’s reputation in their business endeavors.
In response to the memo, Rep. Jamie Raskin (D-MD), a leading Democrat on the Oversight Committee, stated that the GOP is reiterating old information about Hunter Biden’s business activities, which were already known years ago. The White House also responded, with spokesperson Ian Sams dismissing the memo as a rehash of old news without any direct implications for President Biden.
The memo also touched upon the Oversight Committee’s efforts to strengthen ethics laws and financial disclosure rules. It mentioned that while the committee has obtained thousands of records from six banks related to the Biden family’s associates, they have not yet subpoenaed the bank records of the Biden family members themselves.
Lastly, the memo highlighted that over $20 million in payments from foreign entities, including China, have been identified as being directed to the Biden family and their associates. The nature and purpose of these payments remain a topic of investigation.
