A bank investigator responsible for detecting and combating money laundering warned in 2018 of "unusual" and "erratic" activity related to more than a dozen wire transfers of large sums of money to accounts belonging to Hunter Biden.
In an email released by the House Oversight Committee Wednesday, a Bank Secrecy Act manager raised concerns that the payments did not appear to correspond to "any services rendered," as well as Chinese efforts to target children of politicians. The investigator suggested the bank re-evaluate its relationship with the client.
The payments from China ultimately funded a $40,000check to Joe Biden from his brother that had been labeled loan repayment, according to House Oversight Committee Chairman James Comer, R-Ky. Comer is co-leading the impeachment inquiry against President Biden and has been investigating the Biden family’s business dealings for months.
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 investigator writes in the email.
A "PEP designation" is short for a "Politically Exposed Person," meaning the individual, through their prominent position or relationships, could be more susceptible to being involved in bribery or corruption, according to LexisNexis Risk Solutions.
"Since the initial funding of $5,000,000.00 from Northern International Capital Holdings (HK) Limited on 08/08/17 as a business loan, it was noted that there was no loan agreement document submitted," the investigator wrote in the email.
www.foxnews.com
In an email released by the House Oversight Committee Wednesday, a Bank Secrecy Act manager raised concerns that the payments did not appear to correspond to "any services rendered," as well as Chinese efforts to target children of politicians. The investigator suggested the bank re-evaluate its relationship with the client.
The payments from China ultimately funded a $40,000check to Joe Biden from his brother that had been labeled loan repayment, according to House Oversight Committee Chairman James Comer, R-Ky. Comer is co-leading the impeachment inquiry against President Biden and has been investigating the Biden family’s business dealings for months.
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 investigator writes in the email.
A "PEP designation" is short for a "Politically Exposed Person," meaning the individual, through their prominent position or relationships, could be more susceptible to being involved in bribery or corruption, according to LexisNexis Risk Solutions.
"Since the initial funding of $5,000,000.00 from Northern International Capital Holdings (HK) Limited on 08/08/17 as a business loan, it was noted that there was no loan agreement document submitted," the investigator wrote in the email.
Money laundering investigator warned of Hunter Biden's 'unusual,' 'erratic' payments from China in 2018
A bank investigator responsible for detecting and combating money laundering warned in 2018 of “unusual" and “erratic" activity related to wire transfers to Hunter Biden from China.
