Bank flagged $5M loan from Chinese firm to influence-peddlar Hunter Biden,
Proceeds ended up in Joe Biden’s account, suggesting money laundering
justthenews ^ | 11/19/2023 | john Solomon
FR Posted on 11/29/2023, 11:00:30 PM by bitt
Some of the proceeds from 2017 Chinese loan, flagged by a bank investigator for potentially money laundering and political influence, ended up in Joe Biden’s account, congressional investigators say.
A bank investigator trained to spot money laundering raised serious concerns in 2017 about a $5 million loan that the Biden family received from the arm of a Chinese energy firm, flagging the transaction as “high risk” and possibly tied to efforts by the communist government to gain influence through Hunter Biden, according to an explosive new memo released by congressional investigators Wednesday.
The memo released by House Oversight Committee Chairman James Comer stated that the unnamed examiner specifically raised concerns
<><>that the loan had no paperwork,
<><>that a Biden family firm distributed large sums to a Hunter Biden law firm
<><>the recipient firm was inside the Biden family apparat
<><>and did not appear to have investments requiring a loan.
The bank examiner identifies Hunter Biden as a Politically Exposed Person (PEP), which is a widely used term in financial industry money laundering cases to classify a person who is either “entrusted with a prominent public function” or a family member of one who is, according to The Federal Financial Institutions Examination Council.
“We have been monitoring the subject customer due to the PEP designation and observations on the account activity as well as recent negative news Indicate this entity to be high risk,” the money laundering investigator wrote bank official as he traced the money from Northern International Capitol Holdings (HK) Limited, a firm tied to China CEFC Energy, through the Biden family’s Hudson West III firm and to Hunter Biden’s Owasco PC law firm
(Excerpt) Read more at justthenews.com ...
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