Skip to main content
Press Release Published: Nov 17, 2022

ICYMI: Comer Reveals Evidence of President Biden’s Involvement in His Family’s Business Schemes

Raises troubling questions about whether President Biden is compromised or swayed by foreign dollars and influence

WASHINGTON—Today, House Committee on Oversight and Reform Ranking Member James Comer (R-Ky.) and Republican lawmakers held a press conference revealing evidence of President Biden’s involvement in his family business schemes and several federal crimes that may have been committed by members of the President’s family. During his remarks, Ranking Member Comer pointed to documents, communications, and information revealing the extent of the Biden family’s influence peddling to enrich themselves to the detriment of U.S. interests. Ranking Member Comer emphasized that the evidence raises troubling questions about whether President Biden is compromised or swayed by foreign dollars and influence. He concluded by emphasizing the Oversight Committee will continue to pursue this investigation next Congress to provide the American people with answers, transparency, and accountability. 

Click here to watch the full press conference.
Below are Ranking Member Comer’s remarks as prepared for delivery.

Today we are going to provide something you all haven’t had in a long time when it comes to congressional investigations: evidence.

Committee Republicans have spoken with multiple whistleblowers from numerous business schemes involving the Biden family, reviewed Hunter Biden’s laptop, and received documents of previously unknown transactions. 

What we found are business plans aimed at targets around the world based on influence peddling, including with people closely tied to foreign governments like China and Russia. We also found plans based in the United States where the Biden family swindled investors of hundreds of thousands of dollars. All with Joe Biden’s participation or knowledge.

In 2019, shortly after announcing his campaign for president, Joe Biden told the American people he had nothing to do with and never had conversations with his family about their business deals.

That was a lie.

Whistleblowers describe President Biden as “chairman of the board” for these businesses. He personally participated in meetings and phone calls. 

Documents show that he was a “partner” with access to an office. 

To be clear: Joe Biden is the “Big Guy.”

This evidence raises troubling questions about whether President Biden is a national security risk. And about whether he is compromised by foreign governments.

Despite the President’s claim that he wasn’t involved in Biden family business schemes, these photos show Joe Biden meeting with his family’s business associates while Vice President.

Committee Republicans have identified over 50 countries the Biden family sought business in. On the international side of the Biden family business, the deals were often led by Hunter Biden. 

The investigation reveals a family that engaged with some of America’s most powerful adversaries—planning to sell one of the largest sources of cobalt for electric vehicles in the world to the Chinese, for example.

The Bidens flourished and became millionaires by simply offering access to “The Family.”

Among the dozens of shell companies the Bidens set up, there were millions of dollars of wire transfers, flights on Air Force Two to conduct personal business, and meetings with heads of state all while Joe Biden was aware of what was happening. All the while he turned a blind eye.

Many transactions related to these businesses have raised red flags at U.S. banks. A Suspicious Activity Report or SAR is a document a bank must file with the Treasury Department when a transaction is suspected to be related to money laundering or fraud.

According to media reports, the Biden family accumulated over 150 SARs. One SAR generated by an American bank to the Treasury Department connects Hunter Biden and his business associates to international human trafficking, among other illegal activities.

The money that was being made from getting foreign principals in the same room as Joe Biden was increasingly spent on furthering illegal activity.

The SARs show that Hunter Biden was conducting business with suspected human traffickers. The money gained through influence peddling was funneled to a suspected criminal enterprise—one linked to human trafficking.

We have repeatedly called on Biden’s Treasury Department to release additional financial documents to Committee Republicans, but Treasury refuses. We want to know what the Biden Administration is trying to hide from the American people and why they are not being transparent.

We also found evidence Hunter Biden sought to evade these SARs, using his financial advisor, coincidentally a former Clinton Administration official.

We will continue to pursue all evidence and specifically the SARS and bank records in the new Congress.

As part of our investigation, we have evidence that the finances, credit cards, and bank accounts of Hunter and Joe Biden were commingled if not shared. And on some accounts at least, red flags were raised by banks to the account owner or owners indicating suspicious or illegal activity.

One of Hunter’s closest associates—Eric Schwerin—was accessing Joe Biden’s money and writing checks to reimburse Hunter.

Schwerin arranged the Biden’s international deals around the world. At the same time, he was a frequent visitor to the White House and Joe Biden during the Obama Administration, visiting close to 30 times and sometimes with international business partners and Hunter, according to Hunter’s calendar.

Schwerin was also the president of Hunter’s company and was appointed by President Obama to a position in the administration.

After an apparent falling out with Schwerin, Hunter began coordinating business himself, and increasingly the deals brought in Joe Biden as a direct equity holder.

One of these deals involved the sale of American natural gas to China. Evidence suggests Joe Biden held a 10 percent equity stake in secret through his son.

Hunter brought in millions of dollars from this deal from entities tied to the Chinese government.

In e-mails obtained by Committee Republicans, Hunter wanted keys made for Joe Biden (and Jim Biden)—his “office mate.” He provided Joe Biden’s personal cell phone number and called him his “partner.” The other partners in that deal were two people closely tied to the Chinese Communist Party.

Domestically, Jim Biden—Joe Biden’s brother—used the Biden name to enrich himself in return for the promise that when Joe Biden became President in 2020, business partners would get rich by having access to a future Biden Administration.

By promising access to financing through Middle Eastern, Russian, and Chinese connections he had made through Joe Biden, and by bringing his brother Joe Biden onto phone calls, Jim Biden was able to convince companies to give him loans of hundreds of thousands of dollars he never repaid.

The Biden Administration has answered none of our requests for information regarding the Biden family or the financial transactions that they engaged in. Instead, the Biden Administration has spent over a quarter of a million dollars on staff to “deflect Hunter stories.”

Protecting the President’s son who has committed crimes with Americans’ tax dollars is waste.

The domestic and international schemes that promised access or wealth in a future Biden Administration constitute fraud.

And the President’s participation in enriching his family is, in a word, abuse of the highest order.

Rooting out waste, fraud, and abuse in the federal government is the primary mission of the Oversight Committee. As such, this investigation is a top priority.

We are releasing a report today that details what we have uncovered.

We are also sending letters to Biden Administration officials and Biden family associates renewing our requests for voluntary productions of documents relevant to this investigation.

This is an investigation of Joe Biden, the President of the United States and why he lied to the American people about his knowledge and participation in his family’s international business schemes.

National security interests require the Committee conduct this investigation and we will pursue all avenues—avenues that have long been ignored.

Committee Republicans have uncovered evidence of federal crimes committed by—and to the benefit of—members of the President’s family. These include:

·     Conspiracy or defrauding the United States

·     Wire fraud

·     Conspiracy to commit wire fraud

·     Violations of the Foreign Agents Registration Act

·     Violations of the Foreign Corrupt Practices Act

·     Violations of the Trafficking Victims Protection Act

·     Tax evasion

·     Money laundering; and

·     Conspiracy to commit money laundering

The Biden family’s business dealings implicate a wide range of criminality from human trafficking to potential violations of the Constitution.

In the 118th Congress, this Committee will evaluate the status of Joe Biden’s relationship with his family’s foreign partners and whether he is a President who is compromised or swayed by foreign dollars and influence.

I want to be clear: This is an investigation of Joe Biden, and that’s where our focus will be next Congress.