Biden Business Paid $20M While Joe Biden was VP

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Facts

  • On Wednesday, the US House Oversight Committee revealed that the Biden family, including current President Joe Biden and first son Hunter Biden, has brought in at least $20M of personal wealth from foreign entities.1
  • The newly released "Third Bank Records Memorandum" follows two prior bank memos published by the Republican-majority committee. The latest release shows that Yelena Baturina, the widow of Moscow's former Mayor Yury Luzhkov, wired millions to a firm co-owned by Hunter.2
  • In February 2014, Baturina sent $3.5M to Rosemont Seneca Thornton, where Biden's business partner — Devon Archer — and partners of the company are listed as beneficiaries. A month later, $750K was sent to Archer, and approximately $2.7M went to a second company of Archer and Hunter's — Rosemont Seneca Bohai.3
  • Republicans have argued that the payment was connected to a 2014 dinner at Café Milano involving Baturina, Joe Biden, and Hunter Biden. The $3.5M had previously been revealed in a 2020 Senate report.4
  • The 19-page memo also shows payments from Ukrainian energy company Burisma Holdings, as well as Kazakhstani oligarch Kenes Rakishev. Committee chairman Rep. James Comer (R-Ky.), accused Pres. Biden of having his "brand" sold by his son while he was VP in order to "reap" millions of dollars in return.2
  • This follows Archer's testimony to the committee last week, which claimed Pres. Biden sat in during at least 20 business calls with foreign associates. Meanwhile, Jamie Raskin — leading Democrat Rep. on the committee — argued the memo was merely a rehash of the same deals declared "three years ago."5

Sources: 1New York Post, 2FOX News, 3Colorado Springs Gazette, 4CNN, and 5Daily Mail.

Narratives

  • Republican narrative, as provided by New York Post. Despite the left's dismissive attitude, when Biden's relatives receive money, Biden is receiving money. If such behavior were exercised by the relatives of a Republican VP, Americans wouldn't hear the end of it. The Biden admin. has been obscuring the truth for years — both Joe and Hunter should be subpoenaed, and full bank records released, so that we can finally get to the crux of the Biden family's business dealings.
  • Democratic narrative, as provided by CNN. House Republicans are showing their intent to smear the President with accusations of corruption, despite a lack of evidence that he financially benefitted from the business transactions of his son. It seems that Republicans are fixated upon impeaching Joe Biden even without a clear establishment of the facts. This is a storm over a plethora of baseless conspiracy claims.

Predictions