Biden Business Received $20M From Foreign Sources

House Oversight Committee Chair James Comer (R-KY) disclosed that while Joe Biden served as vice president under the Obama administration, the Biden family business took over $20 million from Russia, Ukraine, and Kazakhstan.

The committee previously exposed two Biden business bank records, revealing that the business collected at least $10 million from China and Romania operations. Two of Joe Biden’s grandchildren and nine other members of the Biden family received payments from these foreign ventures.

Comer anticipated in June that the committee’s investigation would ultimately demonstrate that the Biden family’s foreign business dealings totaled up to $30 million. On Wednesday, the committee released the third batch of information, obtained by subpoenaing six different banks and collecting thousands of responsive records. These subpoenas specifically targeted individuals and companies involved in business activities with Biden family members and associates.

The committee has not yet subpoenaed any Biden family members themselves.
Comer stated in a press release, “Hunter Biden used the idea of ‘the brand’ of Joe Biden to garner millions from oligarchs in Kazakhstan, Russia, and Ukraine. No genuine services seem to have been provided, only access to the VP Joe Biden and the possibility of the extended Biden network.”

According to Comer, Joe Biden’s implication in the payments stems from his relationships with the family’s business associates. Comer highlighted instances such as when then-Vice President Biden shared meals at CafĂ© Milano with global oligarchs who had sent money to his son. Comer insisted that Biden was aware of his son’s business activities and let his name and position be used to increase the family’s wealth during his tenure as Vice President.

Details from the committee about the bank records include:
Devon Archer and Hunter Biden used a company, Rosemont Seneca, and its entities to draw millions from European and Asian oligarchs. They hid the source and size of these payments.
In February of 2014, Yelena Baturina, a Russian billionaire, transferred $3.5 million to Devon Archer and Hunter Biden through a shell company they were connected with.
In the Spring of 2014, a Ukrainian oligarch appointed Archer and Biden to the Burisma Board of Directors and agreed to pay them $1 million yearly.

Hunter Biden received several million dollars from Burisma, Yelena Baturina, and Kenes Rakishev and dined with them in Washington, DC, in the spring of 2014 and 2015.

In July, Comer explained that the Biden family’s business activities caused six banks to flag over 170 “large” sums in Suspicious Activity Reports (SARs) to the treasury, 20 more than previously known. These reports frequently include evidence of potential criminal activities such as money laundering and fraud.

Comer also accuses the Biden family of opening more than 20 shell companies to conceal payments and launder money, calling it racketeering. “When you create numerous shell companies solely to launder money, that’s what it’s termed,” he declared.