


A bank investigator raised concerns internally in 2018 about payments Hunter Biden received, saying the activity on his company bank account appeared "unusual," according to House Oversight Committee Chairman James Comer (R-KY).
The investigator, who was a bank employee and Bank Secrecy Act manager, according to a source familiar, alerted colleagues in an email to what the investigator observed as "unusual" activity after a Chinese government-linked company gave $5 million to fund a joint venture between Biden and a Chinese businessman.
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"The bank investigator was so concerned about Hunter Biden’s financial transactions with the Chinese company, he wanted to re-evaluate the bank’s relationship with the customer,” Comer said in a press release.
Hunter and James Biden earned significant income from their partnership with CEFC, a Chinese government-linked company, beginning shortly after Joe Biden left office in 2017.
Bank records previously released by the Oversight Committee show that a CEFC-linked company sent $5 million to an entity owned partly by Hunter Biden and partly by a CEFC executive on Aug. 8, 2017.
The same day, Hunter Biden appears to have transferred $400,000 into Owasco, a personal entity he used to handle various overseas business dealings. In the weeks that followed, he wired some of the money to James Biden, whose wife ultimately wrote Joe Biden a $40,000 check that House Republicans touted as evidence the president benefited financially from his family’s foreign business.
Democrats cited other financial documents that supported Joe Biden’s claim the $40,000 check was repayment for a loan.
The new email shows that the bank investigator raised concerns about the initial $5 million cash influx into Hudson West, the venture jointly owned by Hunter Biden and a CEFC executive, as well as the $400,000 Hunter Biden then placed into his Owasco account.
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According to the email, Hunter Biden would go on to transfer far more than $400,000 from Hudson West into his account; more than half of the original $5 million Chinese payment would eventually make its way into Hunter Biden’s account, the bank investigator said.
"The activity on the account appears unusual with no current business purpose," the bank investigator, whose identity was redacted, wrote in June 2018, nearly a year after the CEFC-linked entity deposited the $5 million into its joint venture with Hunter Biden.
This story is developing.