Biden received $40,000 from family after Chinese payments, Oversight Committee says

President Joe Biden received $40,000 from his brother’s wife shortly after a Chinese company sent money to the Biden family, according to bank documents published Wednesday by the House Oversight Committee.

The payment is the second piece of direct evidence to suggest Joe Biden profited off the business of his brother and son despite years of denials.

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James Biden had worked with Joe Biden’s son, Hunter Biden, on a business deal with Chinese energy conglomerate CEFC, forming a partnership that netted them and their partners millions of dollars. Sara Biden, James Biden’s wife, appeared to write the $40,000 check to Joe Biden, which she labeled as a loan repayment, shortly after receiving an influx of funds from CEFC in August 2017.

The Biden family members and their associates planned to enter a joint business venture with CEFC in the months after Joe Biden left the vice presidency.

Hunter Biden and James Biden, along with former associates Rob Walker and James Gilliar, would together own 50% of the new venture. Ye Jianming, the chairman of CEFC, would own the other half of the company. Tony Bobulinski, another former business associate of the group, was slated to serve as the chief executive officer of the venture.

Gilliar proposed having Hunter Biden set aside an additional 10% stake for “the big guy” in a now-infamous May 2017 email.

But the venture, SinoHawk Holdings, never came to fruition. Instead, Hunter Biden pressured CEFC executives to send money directly to his holding company.

Through various entities, CEFC paid Hunter Biden the family’s share of their earnings from the Chinese partnership. Hunter Biden would then use one of his companies, Owasco, to send James Biden his cut.

During an interview last year with investigators, James Biden acknowledged he was paid for his work for CEFC by Hunter Biden through Owasco and not by CEFC directly.

The new bank records 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 his Owasco account.

Less than a week later, he sent $150,000 of that money to James and Sara Biden’s business account, according to the bank records.

On Aug. 28, 2017, Sara Biden transferred $50,000 from the business she shared with her husband to their personal account, which, at the time, had a balance of less than $50. And on Sept. 3, 2017, she wrote the $40,000 check to Joe Biden from the personal account.

At no point did any of the Biden family accounts have enough money in them already to make that series of transactions without the Chinese funding, the Oversight Committee noted in its memo on the bank records.

Witnesses have described Joe Biden’s involvement in his family’s work with the Chinese company.

Bobulinski told FBI agents in a 2020 interview that he met with Joe Biden in early May 2017 in California, where he said the two briefly discussed the proposed joint venture that did not materialize. James Biden later told Bobulinski that the group needed to conduct the business in ways that would allow Joe Biden to maintain “plausible deniability,” including by leaving Joe Biden’s name off any written communications, Bobulinski told the FBI.

Walker told the FBI that the group had indeed discussed the possibility of Joe Biden taking a stake in their Chinese joint venture if Joe Biden had decided against a presidential run in 2020.

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Bank records released last month by the Oversight Committee showed that James Biden paid his brother $200,000 in March 2018 on the same day he received the same amount from a private business partnership.

That payment was also characterized as a loan repayment, although House Oversight Committee Chairman James Comer (R-KY) has asked the White House to provide proof that Joe Biden was owed money from his brother.