You can’t fool an honest bank examiner. From John Solomon and Steven Richards at justthenews.com:
A money laundering investigator for a bank raised serious concerns about a $5 million loan in 2017 that the Biden family received from the arm of a Chinese energy firm, flagging the transaction as “high risk” and possibly tied to efforts by the communist government to gain influence through Hunter Biden, according to an explosive new memo released by congressional investigators Wednesday.
The unnamed investigator specifically raised concerns that the loan had no paperwork, that a Biden family firm distributed large sums of the money to a Hunter Biden law firm and that the recipient firm inside the Biden family did not appear to have any investments in need of a loan, the memo released by House Oversight Committee Chairman James Comer stated.
Comer noted Wednesday that the complex $5 million trail of transactions also resulted in a $40,000 check landing in Joe Biden’s account.
The memo shows that the bank investigator identified Hunter Biden as a Politically Exposed Person (PEP), which is a widely used term in financial industry money laundering reviews to classify a person who is either “entrusted with a prominent public function” or a family member of one who is, according to The Federal Financial Institutions Examination Council.
“We have been monitoring the subject customer due to the PEP designation and observations on the account activity as well as recent negative news indicate this entity to be high risk,” the money laundering investigator wrote bank officials as he traced the money from Northern International Capitol Holdings (HK) Limited, a firm tied to China CEFC Energy, through the Biden family’s Hudson West III firm and to Hunter Biden’s Owasco PC law firm.
“These payments were indicated as management fees and reimbursements. We find It unusual that approximately 58% of the funds were transferred to the law firm in a few months and the frequency of payments appear erratic,” the investigator’s memo noted. “It was also previously indicated Hudson West III LLC does not currently have any investment projects at this time, which raises further concerns as millions in fees are being paid but does not appear to have any services rendered by Owasco PC.”
