By Steven Nelson | New York Post
WASHINGTON — A bank money laundering expert raised internal alarms in 2018 about first son Hunter Biden receiving millions of dollars from a Chinese government-linked business without “any services rendered,” an email released Wednesday by House Republicans shows.
The document was drafted by a Bank Secrecy Act manager who expressed concern about the transfer of more than $5 million by a Chinese company in 2017 within days of Hunter threatening his father’s wrath — with the expert noting that the funds were described without evidence as a “loan.”
“Since the Initial funding of $5,000,000,00 from Northern International Capital Holdings (HK) Limited on 08/08/17 as a business loan, it was noted that there was no loan agreement document submitted,” wrote the bank official, whose name and employer were redacted in the House Oversight Committee release.
“The funds in the account have primarily funded 16 wires [to a Hunter Biden-owned law firm]. These payments were Indicated as management fees and reimbursements,” the email author continued.
“We find it unusual that approximately 58% of the funds were transferred to the law firm in a few months and the frequency of payments appear erratic,” the bank expert wrote.
“It was also previously indicated that [initial funds recipient] HUDSON WEST III LLC does not currently have any investment projects at this time, which raises further concerns as millions in fees are being pald but does not appear to have any services rendered by Owasco PC.”
The email adds that Hunter Biden’s ex-wife, Kathleen Buhle, had alleged “concerns about his extravagant spending on his own interests (drugs, strip clubs, prostitutes, etc.)” and that “recent negative news indicate China targeting children of politicians and purchase of political influence through ‘sweetheart deals’.”
The anti-money laundering expert noted that Hunter Biden was part of a separate Chinese venture in 2013 — namely, the co-founding of BHR Partners, whose “purpose is to invest in companies that benefit Chinese government.”
Hunter’s China links “may require re-evaluation of relationship with the customer,” the bank official wrote, requesting feedback from colleagues — though it’s unclear what they may have said in response.
Oversight Committee chairman James Comer (R-Ky.) said the message underscores the importance of an ongoing impeachment inquiry into President Biden’s links to his family’s ventures in China, Ukraine and other countries during and immediately after his vice presidency.
“Long before our investigation into President Biden’s corruption, a bank money laundering investigator raised the exact concerns that we raised publicly about the Biden family business: ‘payments appear erratic,’ ‘does not appear to have any services rendered,’ ‘no current business purpose,’ and ‘China target[s] children of politicians and purchase of political influence through ‘sweetheart deals,’” Comer said.
“Those are the words of a bank investigator who was just doing his job. 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, himself a former bank director, alleged Nov. 1 that $40,000 of Chinese funds appear to have gone into Joe Biden’s bank account after being received by his brother James Biden, a partner of Hunter’s in the venture.
That transfer was labeled as “loan repayment.”
Experts note that describing payments as loans is sometimes done to avoid tax liability.
House Democrats say that there’s evidence of Joe Biden loaning his brother an identical amount, but Republicans say the funds came from a law firm, clouding the picture, and argue that even if there was a loan agreement, Joe Biden was repaid using Chinese government-linked funds.
The release comes as a Los Angeles grand jury considers federal charges against Hunter Biden for failing to pay about $2 million in taxes on foreign income — after Hunter in July walked away from a probation-only plea deal that critics decried as a sweetheart deal.
Hunter also could face money laundering charges or counts for allegedly violating the Foreign Agents Registration Act.
The $5 million transfer from the same deal with CEFC China Energy in which Joe Biden, referred to as the “big guy,” was penciled in for a 10% cut in May 2017.
Joe Biden also was listed as a participant in an October 2017 call about the firm’s attempt to purchase US natural gas.
Hunter invoked his father’s potential wrath in a July 2017 text message demanding that a China-based CEFC associate follow through with a business deal, writing he was “sitting here with my father.”
Within 10 days of the threat, $5.1 million flowed to Biden-linked accounts — following an initial $1 million tranche in March 2017, less than two months after Joe Biden completed his vice presidency.
The White House and Hunter Biden’s legal team did not immediately respond to The Post’s requests for comment.
