BIDEN FAMILY CORRUPTION - MEMO

COMMITTEE ON OVERSIGHT AND ACCOUNTABILITY

The following is the summary and excerpts taken from the Committee on Oversight and Accountability Memo regarding Second Bank Records Memorandum from the Oversight Committee’s Investigation into the Biden Family’s Influence Peddling and Business Schemes.

“The Committee has subpoenaed four different banks and received thousands of records in response. The Committee’s bank subpoenas were tailored to specific individuals and companies that engaged in business activities with Biden family members and their business associates.”

• Lack of Transparency Regarding the Biden Family Business Deals: When President Biden ran as a presidential candidate, he assured the American people his family received no money from China. President Biden recently claimed the Committee’s bank records regarding his family’s receipt of funds from China are “not true.” The White House refuses to correct President Biden’s dishonest statements. The lack of transparency surrounding the Biden family’s foreign business deals raises serious national security concerns.

• The Committee has Reviewed Thousands of Bank Records: The Committee has obtained thousands of relevant bank records via subpoenas.

• The Complicated Network of Biden Family and Associates’ Companies: Biden family members and business associates created a web of over 20 companies—most were limited liability companies formed during Joe Biden’s vice presidency.

• The Biden Family Received Millions of Dollars from Foreign Sources: Bank records show the Biden family, their business associates, and their companies received over $10 million from foreign nationals’ companies. The Committee has identified payments to Biden family members from foreign companies while Joe Biden served as Vice President and after he left public office.

• The Biden Family Used Business Associates’ Companies to Receive Foreign Funds: Despite creating many companies after Vice President Biden took office, the Biden family used business associates’ companies to receive millions of dollars from foreign companies.

• Attempts to Conceal Large Financial Transactions: After foreign companies sent money to business associates’ companies, the Biden family received incremental payments over time to different bank accounts. These complicated financial transactions appear to conceal the source of the funds and reduce the conspicuousness of the total amounts made into the Biden bank accounts.

• Chinese Nationals Hid the Source of the Money: Chinese nationals and companies with significant ties to Chinese intelligence and the Chinese Communist Party hid the source of the funds by layering domestic limited liability companies.

• The Number of Biden Family Members: As the Committee traces additional financial transactions, the Committee continues to identify new Biden family members who may have benefited financially from the foreign companies.

The Ethics Committee also revealed that The Bidens pocketed $1M from ‘corrupt’ Romanian oligarch just as VP Joe lectured country on ethics

MEMO FULL TRANSCRIPT