Rep. James Comer (R-Ky.) reported that banks have filed 170 Suspicious Activity Reports (SAR) against members of the Biden family, many of which include transactions involving money received from the Chinese government.
Last week, Comer discussed suspicious activity reports (SARs) in a podcast with Republican Texas Senator Ted Cruz. According to Comer, a SAR is filed when a bank notifies the Treasury Cabinet that it has reason to believe a client has engaged in criminal conduct. The banks don’t know but suspect a crime was committed. According to the SARs, members of the Biden family were involved in money laundering. They received funding from the Chinese Communist Party (CCP).
Comer insisted that SAR reports are relatively uncommon. Comer said he served on a bank board for ten years, during which time the institution issued two SARs. However, 170 SARs have been filed by banks against the Biden family. These banks include some of the largest in the world, such as JP Morgan, Bank of America, and Wells Fargo.
Comer described a suspicious activity report (SAR) regarding the deposit of $3 million into an account associated with Robinson Walker. The House Oversight Committee’s initial subpoena in their investigation was for documents related to this bank account.
Comer said the Bidens received funding via Walker, employed to launder money from China and Romania.
The subpoenaed account never exceeded more than $50,000 for a decade. Then, out of nowhere, a $3 million transfer was received from China.
Twenty-four hours after the initial transfer, according to Comer, they began wiring further money to several shell companies. Four members of the Biden family received $1.3 million of the $3 million.
Comer pointed out that this was only one of 170 SAR reports. He also revealed that Hunter and Joe Biden are the focus of an additional 100 SARs.
The Biden SARs reveal that financial institutions suspected the accounts were used for illegal activities such as wire fraud, tax fraud, and money laundering. According to Comer, the banks believed some wires originated with Chinese government agencies or monopolies.
Cruz inquired if this meant the funds were being sent from the communist government. The answer from Comer was “yes.”
According to Comer, opening an account in the banking industry with two SARs would be difficult. No bank would accept them as customers because they wouldn’t be worth the paperwork.
Comer stated the Bidens utilized twenty shell corporations to launder money.
The CCP could have effortlessly sent the money to Hunter Biden if he was conducting legitimate work for China. However, that did not happen. Instead, the funds were channeled through a series of shell companies. According to Comer, it was organized.
Some of the Biden family SARs have been posted to the website of the non-profit research organization Marco Polo. One of the SARs submitted by JP Morgan details money sent by Hunter Biden to specific accounts, some of whose beneficiaries have been linked to the adult entertainment sector or human trafficking.
Hunter Biden, appointed to the board of directors of a Ukrainian natural gas company called BURISMA in 2014, is the subject of another SAR.