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Press Release Published: Jun 18, 2024

Comer & Jordan Press SEC After Hunter Biden Invoked Then-VP Biden’s Name in Response to Federal Securities Fraud Investigation

WASHINGTON—As part of the impeachment inquiry of President Joe Biden, House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) and House Committee on the Judiciary Chairman Jim Jordan (R-Ohio) today are pressing the U.S. Securities and Exchange Commission (SEC) for information about its handling of a federal securities investigation involving Hunter Biden’s business associates and inter-connected entities. As part of the federal investigation, Hunter Biden was subpoenaed for information and his attorney invoked his father’s position as Vice President in what appears to be an attempt to discourage further scrutiny from the SEC.

“In 2016, attorneys within the SEC’s Enforcement Division were investigating a tribal bond scheme in which several individuals were charged with violating federal securities laws. As part of this investigation, several of Hunter Biden’s business associates and inter-connected entities were implicated by the alleged conduct. As a result, the SEC subpoenaed individuals and entities for documents, communications, and testimony, including Devon Archer—a former business partner of Hunter Biden—on March 14, 2016 and, on March 11, Rosemont Seneca Bohai (RSB), an entity utilized by Hunter Biden and Mr. Archer,” wrote the Chairmen. “On March 16, two days after the SEC issued the Archer Subpoena, the SEC issued a subpoena to Hunter Biden, requiring Hunter Biden to produce documents regarding, among other items, all documents and communications ‘concerning Rosemont Seneca Bohai, LLC[.]’”

According to documents obtained as part of the impeachment inquiry, Hunter Biden represented that he was corporate secretary of Rosemont Seneca Bohai. Rosemont Seneca Bohai was directly implicated in the tribal bond scheme. During his deposition, Hunter Biden made false statements about holding a position at Rosemont Seneca Bohai, which was used to receive millions of dollars from foreign individuals and entities who met with then-Vice President Biden before and after transmitting money to the RSB account that then transferred funds to Hunter Biden. Earlier this month, Chairmen Comer and Jordan, along with Ways and Means Committee Chairman Jason Smith, referred Hunter Biden to the Justice Department for making false statements about his affiliation with RSB, and other false statements, that implicate his father’s role in the Bidens’ influence peddling schemes. 

“The Committees have obtained Hunter Biden’s response, dated April 20, 2016, to the SEC subpoena. Mr. Biden’s attorneys provided 1,749 responsive documents to the SEC.  Concerningly, however, Mr. Biden’s counsel wrote: ‘As a threshold matter, we request that you treat this matter with the highest degree of confidentiality, consistent with Commission policy and applicable law. The confidential nature of this investigation is very important to our client and it would be unfair, not just to our client, but also to his father, the Vice President of the United States, if his involvement in an SEC investigation and parallel criminal probe were to become the subject of any media attention.’  Mr. Biden’s response gratuitously invoked his father’s position as the Vice President in what could be interpreted as an effort to discourage further SEC scrutiny.  And on May 11, 2016, the SEC published a press release—announcing the charging of seven individuals—with no mention or charging of Hunter Biden,” continued the Chairmen.

Read the letter to SEC Chair Gensler here.