Hunter Biden Should Worry? CCP-Linked Bank Opens its Balance Sheet to GOP Investigators – A Chinese-American bank with several offices in China provided congressional Republicans with details on millions of dollars of transactions between CEFC Energy and Hunter Biden. They corroborate the financial records provided to Congress by the U.S. Treasury Department.
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Hunter Biden: More Drama?
Last month, the House Oversight and Accountability Committee released bank records it had obtained that showed Biden family members received over $1 million from HK Energy Limited in the months following Joe Biden’s departure from the vice presidency.
Cathay Bank provided bank transaction records to Sens. Ron Johnson and Charles Grassley.
“We just requested the records, and no questions asked; they just turned them over to us,” Johnson told The Washington Times. “That’s not by accident.”
It agreed to do the same for House Republicans. The Los Angeles-based Chinese-American bank was founded in 1962 to serve the needs of the Chinese community. It has offices in Beijing, Shanghai, and Hong Kong.
CEFC Energy wired $1 million to Hudson West III, a joint venture owned by Hunter Biden and Gongwen Dong, a business associate of Ye Jianming, the former head of the company, the Washington Times reported. Jianming had close ties with Chinese military intelligence, having served as the deputy secretary general of the China Association for International Friendly Contacts (CAIFC).
Grassley noted in a letter last Fall that Gongwen previously worked for Radiance Property Holdings, a company now run by an individual with deep connections to “‘united front’ groups linked to Chinese intelligence.”
Cathay Bank records show that Northern International Capital Holdings, a company with close financial ties with CEFC Energy, wired $5 million to Hudson West III. Money sent from the two companies funded a further $4.8 million wire transfer from Hudson West III to Hunter Biden’s firms Owasco P.C. and Owasco L.L.C., and Lion Hall Group, owned by the president’s brother, James Biden.
Owasco P.C. sent 20 wire transfers totaling $1.4 million to the Lion Hall Group. Hudson West III paid Hunter Biden a $500,000 retainer fee plus $100,000 monthly. It also gave James Biden $65,000 per month.
Gongwen and Hunter Biden opened a $99,000 line of credit for Hunter Biden to use along with James Biden and his wife Sara Biden, Cathay Bank records show. They used the credit cards to make airline purchases, Apple Store purchases, and charges from hotels and restaurants.
CEFC Energy affiliate CEFC Infrastructure sent $381,000 in payments through Hudson West III. Gongwen received $123,000 and Hunter Biden’s Chinese-American assistant JiaQi Bao received $30,000. Hunter Biden’s business partner Mervyn Yan’s company Coldharbour Capital LLC received $318,000.
These transactions took place between August 2017 and October 2018.
“This is $5 million from a company connected to Ye Jianming and CEFC and its affiliates, which are essentially arms of the communist Chinese regime,” Grassley said in a March 2022 floor speech.
What the GOP Is Worried About
Republicans worry that the payments have compromised President Joe Biden and influenced him to undermine U.S. national security toward China. Johnson noted that the Biden administration cancelled the Trump administration’s China Initiative aimed at stopping Chinese industrial espionage. The Biden administration also ended U.S. tariffs on Chinese solar panels.
They also want to see Cathay Bank records included into the record being used by the federal investigators looking into Hunter Biden’s tax records.
Comer wrote Cathay Bank President Chang M. Liu last May expressing concern about “whether these activities compromise U.S. national security and President Biden’s ability to lead with impartiality.”
“Since there is also evidence of comingling of funds between President Biden and Hunter Biden during the former’s vice presidency, Republicans must ask whether the current President is compromised from a national security perspective,” Comer asked.
Former CIA Station Chief and Intelligence Sam Faddis told Newsmax last month that if Hunter’s name was not Biden a counterintelligence investigation would have been opened on him and on his family would have been opened without any question.
“Where is the ambiguity here?” Faddis said. “My number one job was to recruit spies and recruit sources, and so I did this to other people for a really long time. So, to me, it’s just going back to ‘it’s obvious.’
Faddis continued:
“Because why else all of the sudden are all of these individuals with all of the connections given all of this money and spending all of this time with Hunter? I never understood the alternate thesis.”
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