Bank records show millions in transactions between Hunter Biden, China firms: Sen. Johnson

Senator Johnson says the records show the Biden family was involved with the now-defunct CEFC China Energy, which had connections to the Chinese Communist Party.  

Published: April 12, 2023 12:27pm

Updated: April 13, 2023 2:35pm

Wisconsin GOP Sen. Ron Johnson says the financial institution Cathay Bank has given Senate Republicans records showing millions of dollars going from Chinese companies to President Biden's son Hunter Biden.

Republicans and others started raising concerns during President Biden's successful 2020 White House campaign, if not earlier, that Hunter Biden used the family name and influence while his father was vice president to make millions in overseas business deals, which also could have compromised U.S. national security.

Johnson told The Washington Times the records show the Biden family involved with the now-defunct CEFC China Energy, which had connections to the Chinese Communist Party. 

The firm reportedly gave $1 million to Hudson West III, which was a joint venture owned by Hunter Biden and Gongwen Dong, a business associate of CEFC's founder and chairman, Ye Jianming, according to the bank records. 

"In my mind," said Johnson, "it's the Chinese government telling Joe Biden, 'We got the goods on you, buddy. And we’re willing to dish it up.'"

The records provided by the bank also include those from the president's brother, James Biden.

Cathy Bank has come out and said these allegations are false and that the bank is an American bank.

“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," a spokesperson told Just the News in an email.

"The bank intends to continue to cooperate with the committee," the statement continued. "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.”

Johnson says the bank turned over the records to him and Iowa GOP Sen. Chuck Grassley. Other banks have denied the senators' requests for the records. 

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