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Bank Provides Senate Republicans With Biden Family Financial Records Linked to Chinese Companies

According to a Washington Times report, a Chinese-American bank has provided Senate Republicans with financial records showing Chinese companies gave millions of dollars to Hunter Biden and James Biden, Joe Biden’s brother.

Cathay Bank reportedly provided the bank records voluntarily after Sens. Ron Johnson (R-WI) and Charles E. Grassley (R-IA) requested financial records.

The Washington Times spoke to Johnson about the financial records provided by Cathay Bank, an American bank with offices in China.

“In my mind, it’s the Chinese government telling Joe Biden, ‘We got the goods on you, buddy, and we’re willing to dish it up,’” Sen. Johnson told the outlet.

As The Washington Times explained, Cathay Bank disputed Sen. Johnson’s suggestion that it has connections to the Chinese government.

Cathay Bank spokesman Ian Campbell said the allegations are false.

“Cathay Bank, a NASDAQ-listed, U.S. financial institution for over 60 years, has cooperated with the House Committee on Oversight and Accountability’s request for information. The bank intends to continue to cooperate with the committee,” he said in a statement to The Times. “Cathay Bank was founded more than sixty years ago by a United States citizen, and serves American communities as a bank with over $20 billion in assets and more than 60 branches in 9 states. Cathay Bank is neither owned by nor affiliated with the Chinese government in any way.”

The records the bank handed over showed deep financial ties between the president’s son and brother and the now-defunct CEFC China Energy, which had ties to the Chinese Communist Party. The energy giant wired $1 million to Hudson West III, a joint venture owned by Hunter Biden and Gongwen Dong, a business associate of CEFC’s founder and chairman, Ye Jianming.

A second Chinese energy company, Northern International Capital Holdings, which is associated with the communist-backed CEFC, wired $5 million to Hudson West III, the Cathay Bank records show. The money sent from the two companies funded a $4.8 million wire transfer from Hudson West III to Hunter Biden’s companies Owasco P.C. and Owasco LLC, and Lion Hall Group, owned by the president’s brother James Biden.

The Cathay records show Owasco P.C. sent 20 wire transfers totaling nearly $1.4 million to the Lion Hall Group. Hudson West III paid Hunter Biden a $500,000 retainer fee plus $100,000 per month. James Biden was paid $65,000 per month.

No other American bank has provided financial records upon the senators’ requests.

WLTReport reported last week that the House Oversight Committee subpoenaed multiple banks for the financial records of Biden family associates.

The Republican-led committee reportedly issued subpoenas to Bank of America, Cathay Bank, JPMorgan Chase, and HSBC USA N.A.

Several Banks Subpoenaed For Biden Family Financial Records


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