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- The HOC issued subpoenas to four major banks in the US.
- Authorities are investigating Hunter Biden’s business deals.
Amid the US banking crisis, authorities subpoenaed four major financial institutions associated with Hunter Biden’s business deals. The House Oversight Committee (HOC) is investigating US President Joe Biden’s first son for his business deals. It is being alleged that Democrats are trying to sway the witnesses away from testifying.
The Four Banks in the Cross-hairs
Subpoenas were given to Bank of America, JPMorgan, Cathay Bank and HSBC concerning the panel investigation probing the alleged global influence-peddling scheme run by the Biden family. Along with the bank, Hunter Biden’s ex-business associate, Mervyn Yan, also received a subpoena for his financial records.
This news has created ripples in Washington circles. Rep. James Comer has apparently accused a ranking Democrat of the committee, Jamie Raskin, of purposefully leaking the subpoena news to foil the cooperation from others.
A letter was sent to Comer by Raskin on April 6, 2023, asking for equal exposure to the information currently in possession of Committee Republicans regarding the high-profile investigation.
Raskin said in the letter that, for the past three months, the responsibility of the Committee is in the hands of Comer, and the efforts of hiding the information from Committee Democrats, like the details collected in the investigation of the President’s family, is alarming and worries Raskin.
Furthermore, the letter said, Comer’s supposed public misrepresentations regarding certain investigations done by Committee Republicans in this scenario, deemed a top priority in the 118th Congress, were also worrisome.f
Comer obtained the Biden family’s financial records using the committee’s subpoena power in March 2023. It was revealed from the document that Hallie BIden, the President’s daughter-in-law and the widow of Joe Biden’s late son Beau Biden, might be a new addition to the investigation.
Allegedly, a close study of the bank records revealed that Hallie Biden received $35,000 in two transfers in 2017 from Rob Walker, their family associate. Interestingly, Rob received around $3 million on March 1, 2017, from a firm affiliated with CEFC China Energy, State Energy HK Limited.
Comer cited that most of these bank records do not reveal the first names of the people involved, meaning that more Bidens could be involved Huner, James and Hallie Biden, who are already in the range. However, this is not the first time the Biden family’s financial records have been under a microscope.
Delaware US Attorney David Weiss, handling the Justice Department’s federal criminal investigation, subpoenaed JPMorgan for a supposedly 53-year-old transaction between the Bank of China and a nonprofit website Marco Polo, concerning Hunter Biden in 2019.
Weiss also sent an order demanding JPMorgan Chase to reveal any international financial transactions in the last five years, which involved James, Devon Archer Hunther’s former business partner, and Eric Schwerin.
The subpoena was issued on May 15, 2019, by Weiss, and Joe Boden was a presidential candidate. Five weeks later, Hunter Biden left his laptop in a repair shop in Delaware, revealing crucial information.
No charges are pressed on anybody for now.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
