WASHINGTON, D.C. – Congressman James Comer (R-Ky.) recently wrote the Biden Administration and several banks and financial institutions about Hunter Biden and Biden family and associates’ suspicious foreign business transactions flagged by U.S. banks. According to media reports, more than 150 of Hunter Biden and the Biden network’s international business transactions have generated suspicious activity reports by U.S. banks for further review by the Treasury Department to determine if there is illegal activity or a threat to national security. The Treasury Department used to provide these reports to Congress, but the Biden Administration has restricted access to them, raising questions about a possible effort to hide the Biden network’s suspicious business dealings.
In a letter to Department of the Treasury Secretary Janet Yellen, Ranking Member Comer requested all suspicious activity reports generated in connection with Hunter and James Biden, their associates, and their businesses and requests all documents and communications related to the Biden Administration’s decision to restrict Congress’ access to suspicious activity reports.
“Troubling reports have recently surfaced that numerous international business transactions tied to Hunter and James Biden, the President’s brother, were flagged to the Financial Crimes Enforcement Network (FinCEN) through Suspicious Activity Reports (SARs). At the same time, the Biden Administration is restricting Congress’ access to SARs. This reversal of longstanding policy raises serious questions about the motives behind the change, including whether it is intended to protect Hunter Biden,” wrote Ranking Member Comer to Secretary Yellen. “More than 150 international business transactions tied to Hunter or James Biden were flagged by U.S. banks in SARs filed with the U.S. Department of the Treasury. The sheer number of flagged transactions in this case is highly unusual and may be indicative of serious criminal activity or a national security threat. We are particularly concerned where those transactions may involve business with firms or entities, including those with direct ties to foreign governments, hostile to the United States’ interests.”
Ranking Member Comer continued, “Given Hunter Biden’s apparent ability to continue his international business dealings notwithstanding numerous SARs filed in relation to his business transactions, we must determine the full extent to which SARs were generated by various financial institutions in these cases, and if so, whether suspicious activities or any other SARs were ignored by law enforcement and bank regulators. It is imperative that we ensure that the Biden family was not selling access to the highest levels of government to America’s adversaries. We must also determine whether the current President is compromised from a national security perspective, especially considering evidence that President Biden and Hunter Biden comingled funds during the former’s vice presidency.”
In letters to several banks where Hunter Biden and Biden family members have accounts, Ranking Member Comer requested all financial records, documents, and communications related to suspicious activity reports generated for Hunter Biden, his business partners, and other members of the Biden family.
In letters to several banks, Ranking Member Comer wrote, “Committee Republicans are investigating potential influence peddling and threats to national security. Specifically, we are investigating whether the Biden family sold access to the highest levels of government to America’s adversaries. 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 … Republicans must track the dollars to uncover whether the current President himself benefitted from these transactions and whether the payments were from nations opposed to U.S. interests…We are committed to following Hunter Biden’s money trail—consisting of many complex, international transactions worth millions of dollars—and providing answers to the American people. The American people deserve to know the President’s connections to his son’s business deals, which have occurred at the expense of American interests and may represent a national security threat.”
The letters can be found here:
- Secretary Yellen
- Bank of China
- Bank of New York Mellon
- Brown Brothers Harriman & Co.
- Cathay
- Citi Bank
- First National Bank of Omaha
- JP Morgan Chase
- Morgan Stanley
- PNC
- TD Bank
- USAA
- Wells Fargo
- Bank of America
