Oversight Chair Comer reveals banks have complied with subpoenas in Biden family investigation

April 19, 2023
Ben Marquis

As part of the ongoing investigation into the dubious foreign business dealings and alleged influence-peddling of President Joe Biden's family, recent reports indicated that House Oversight Committee Chair James Comer (R-KY) had subpoenaed relevant bank records from a few major financial institutions.

Now comes word that at least four of those major financial institutions have complied with the subpoenas and turned over to the committee the requested bank records related to Biden family members, their businesses, and their associates, according to Breitbart, which cited an unnamed source "familiar" with the investigation.

Those four institutions are Bank of America, Cathay Bank, JPMorgan Chase, and HSBC USA N.A.

"Thousands" of Suspicious Activity Reports reviewed

Meanwhile, on Monday, it was announced in a press release that members of the Oversight Committee had finally been granted an opportunity to come to the Treasury Department to view in-person "thousands" of so-called SARs, or suspicious activity reports, linked to the Biden family members that financial institutions are required to file in regard to potentially criminal transactions.

"Thousands of pages of financial records related to the Biden family, their companies, and associates’ business schemes were made available to members of the House Committee on Oversight and Accountability, which confirm the importance of this investigation," Comer said in a statement.

"The Biden family enterprise is centered on Joe Biden’s political career and connections, and it has generated an exorbitant amount of money for the Biden family," he continued. "We’ve identified six additional members of Joe Biden’s family who may have benefited from the Biden family’s businesses that we are investigating, bringing the total number of those involved or benefiting to nine."

"The Oversight Committee will continue to pursue additional bank records to follow the Bidens’ tangled web of financial transactions to determine if the Biden family has been targeted by foreign actors and if there is a national security threat," Comer added. "We will soon provide the public with more information about what we’ve uncovered to date. The American people need transparency and accountability, and the Oversight Committee will deliver much-needed answers."

Investigation reveals new family members, new bank accounts, and new LLCs

That same day, Chairman Comer spoke with Fox Business host Larry Kudlow and was asked if he'd learned "anything new" in his review of the Treasury's SARs, to which Comer replied, "We learned a lot that was new," as he further revealed that his staff has been quietly reviewing those reports for the past few weeks.

"Let me be very clear: This isn't just about the president's son or the president's brother," he continued. "We've identified six new Biden family members involved in shady foreign transactions that we believe were a direct result of influence-peddling. That brings the number of Biden family members now to nine that were involved in the Biden family influence-peddling, and we still have more family members that we suspect were involved."

"So this was a family affair," Comer said. "This is something that should be troubling to every American, and what we've learned from going through these records is there are a lot of additional LLCs, a lot of additional bank accounts that we didn't know prior to going to the Treasury."

"This investigation is ongoing but I can tell you without hesitation -- it is very serious and the president of the United States is going to have a very hard time explaining how so many of his family members have received so much money from our adversaries around the world," he added.

Biden family LLCs appear purposed to "launder" deposits from foreign adversaries

Later, when asked about subpoenas, Chairman Comer said, "I've already issued six subpoenas to banks and already have those bank records in hand. Now we're looking at additional banks because we've learned of new accounts and new LLCs that we didn't know existed," and went on to suggest that the large number of Biden family LLCs, or limited liability corporations, had no clear purpose other than to "launder deposits from our adversaries around the world back to the Bidens."

Asked if he was considering subpoenas for any Biden family members, Comer demurred, but noted, "This is going to get to a point very soon where the mainstream media, as well as [Attorney General] Merrick Garland, cannot continue to turn a blind eye to this. It’s strange. It’s illegal. There’s no laws that allow family members to profit from a high-ranking government official to the tune of what this family has done."

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