Written by Hudson Crozier
What happened: As vice president, Joe Biden received 10 percent of a deal with a Chinese government-linked company through his family, according to bank information released by the House Oversight Committee.
What’s new? Though email evidence has shown Biden’s cut in the deal since 2020, the bank records serve as confirmation.
- The deal: In 2017, Hunter Biden and his associates struck a deal with the CEO of an energy company with deep ties to China’s military and intelligence. Hunter’s emails show that 10 percent was slated for “the big guy” — Joe Biden’s confirmed nickname among family members and businessmen.
- Follow the money: Hunter collected $400,000 from the deal and sent a smaller amount to James and Sara Biden. Shortly after, Sara sent $40,000 — 10 percent of the $400,000 — to Joe Biden, marking it innocently as a “loan repayment.”
Why it matters: The money from China accounted for most of the balance in the bank accounts the Bidens used. This shows that the purpose of the accounts was to funnel cash from China to then-Vice President Biden. Over the span of a few weeks, they did.
- Zoom out: As the president faces possible impeachment over his foreign ties, Republicans have once again proven that he directly profited from his family’s dealings, which centered around selling Biden’s influence as the family “brand.”
But there’s more: Hunter used his father to leverage the Chinese deal, according to text messages. “I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled,” Hunter told a Chinese associate when he wasn’t paid on time. “We will cooperate with the family,” the businessman replied.