Sworn Congressional testimony last month revealed a Chinese energy firm directly linked to the communist government paid massive monthly fees in 2017 to President Biden’s son Hunter and brother James through an infrastructure investment venture.
Now, Hunter is set to appear at a closed-door session Wednesday on Capitol Hill for a deposition with lawmakers — a crucial moment for Republican lawmaker’s impeachment inquiry into his father and their controversial family’s international business deals.
Neither Hunter nor James brought industry experience yet both received hundreds of thousands from international deals that never materialized while Biden was vice president, according to reports.
At a late January deposition, Republicans outlined how a joint business with Chinese firm CEFC was established shortly after introductory New York talks attended by executive Mervyn Yan alongside Hunter Biden, James Biden. and Chinese business partner Gongwen “Kevin” Dong.
Yan testified that their hastily constructed arrangement envisioned Chinese infrastructure investment into U.S. energy companies in exchange for mainland exports.
He admitted the Bidens were figureheads detached from operations, telling Congress: “I don’t know what he can contribute.”
“Mervyn Yan admitted on the record the Bidens had no experience in the energy and infrastructure sectors and was not sure what they brought to the table,” Rep. James Comer, R-K.Y., said in a statement after the hearing. “His testimony raises many questions about the Bidens’ dealings with the Chinese government-linked energy firm.”
Financial records presented to lawmakers show CEFC initially wired $5 million to related Hunter Biden accounts days after he separately demanded a $10 million signing fee from the chairman, insisting in writing: “The Biden’s [sic] are the best I know at doing exactly what the Chairman wants.”
Hunter Biden also drew a $500,000 retainer and a $100,000 monthly salary from the firm.
Yan said he believed James Biden was paid $65,000 monthly despite both never delivering functioning deals. A Senate investigation previously tied the Chinese firm to communist state intelligence.
Chairman James Comer contends evidence reveals President Biden’s awareness of families’ overseas business dealings as Vice President.
But Yan maintained zero contact with Joe Biden regarding the venture. Biden spokespeople defend the legality of all disclosed transactions.
On Wednesday, Hunter himself heads to Capitol Hill to answer questions about his business deals with Yan and other international corporations.
Hunter’s deposition is a decisive point for the 14-month Republican-led investigation into the Biden family, which has centered on Hunter Biden and his overseas work for clients in Ukraine, China, Romania and other countries.
Republicans have long questioned whether those business dealings were directly linked to President Biden while he was vice president.
The Horn editorial team