Bank Records Show Biden Family Received $10 Million in Payments From China, Foreign Interests: House Oversight

House Oversight and Accountability Committee Chairman James Comer (R-Ky.) and other Republican members of the committee hold a news conference to present preliminary findings into their investigation into President Joe Biden's family on May 10, 2023 in Washington. Chip Somodevilla/Getty Images

A host of banking and other records made public on May 10 by House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) depict a complex money laundering scheme involving millions of dollars from foreign entities that investigators contend went to President Joe Biden and nearly a dozen members of his family.

In a 36-page memorandum summarizing the committee’s findings to date, investigators described examining thousands of bank records and legal documents depicting nearly two dozen limited liability corporations (LLCs) established by Biden family members to receive payments from private clients, corporations, and foreign governments, including China and Romania.

“Biden family members and business associates created a web of over 20 companies—most were limited liability companies formed during Joe Biden’s vice presidency,” the memorandum reads. “Bank records show the Biden family, their business associates, and their companies received over $10 million from foreign nationals’ companies. The Committee has identified payments to Biden family members from foreign companies while Joe Biden served as Vice President and after he left public office.