The bank records reviewed by CBS News revealed that the financial transfers involving James and Hunter were flagged by American banks as "concerning." The concerns include large wire transfers that were escalated for further review. The news outlet was unable to determine the outcome of the banking reviews.
The records were released as part of a probe by Republican senators. Sen. Chuck Grassley (R-IA), the ranking member of the Senate Judiciary Committee, told Catherine Herridge of CBS News: "We have people with the Biden name dealing with Chinese business people that have a relationship [with] the [Chinese] Communist Party. I think James Biden was very much a part of this."
According to the documents obtained by the GOP senator, James' firm Lion Hall Group received payments from another Chinese-financed consultancy in 2018. The payments were issued in 2018, before his older brother – incumbent President Joe Biden – announced his intent to run for president.
Grassley added that in the same year, both James and Hunter received monthly retainers that amounted to $165,000 in all. Of this total, $100,000 went to the presidential son while $65,000 went to James.
The Iowa senator said his team obtained the records directly from the bank where the Chinese consultancy did business. Grassley has spent three years scrutinizing the business deals of the two Biden family members, describing them as "very concerning." (Related: Hunter Biden had links with questionable personalities during his father's tenure.)
A September 2020 report penned by Grassley and Sen. Ron Johnson (R-WI) stated that Hunter and Chinese businessman Gongwen Dong set up a credit line – with credit cards issued to Hunter, James and James' wife Sara. Using this credit line, they purchased airline tickets, hotel accommodations and food amounting to $100,000.
The 2017 application for this credit line bearing the signatures of both Hunter and Dong was also part of the bank records made public by the GOP inquiry. "These records we got are the first [ones] that have ever been made public on this issue. Nobody else has them," said the Iowa senator.
Members of the Biden family refused to comment on the bank records released by the GOP senators.
Hunter's attorney and two lawyers who have represented James did not respond to requests for comment sent by CBS News. Meanwhile, White House Chief of Staff Ron Klain said during an April 3 interview with ABC News that the actions of the two are private matters that do not involve the president.
The 72-year-old James – the incumbent president's younger brother – has been involved in a number of finance and business ventures over the years. However, his name was mentioned in the news in 2021 after he abandoned a British renewable energy venture he was involved in. James let go of his plans for the 2BT firm after a White House ethics review flagged it for potential conflicts of interests.
Members of the First Family are required to disclose their business ventures with the White House Counsel's office of business engagements. These ventures are then reviewed for potential or actual conflicts of interests, after which the office advises on its findings and the next steps.
Robert Weissman, president of the Washington, D.C.-based advocacy group Public Citizen, criticized Hunter and James' dealings with Chinese business entities.
"I think Hunter and James should not have entered into those relationships, full stop. To the extent that those occurred while Joe was the vice president, there's a worry that they hope to get something direct from the Obama administration," he said.
Weissman continued that even after the former vice president's term ended, there should still have been concerns about the potential for "investing in these family members to get future benefits in the possibility that Joe would become president later on."
Head over to BidenCrimeFamily.news to read more about the shady dealings of Hunter and James Biden.
Watch Iowa Sen. Chuck Grassley expounding on the bank records of Hunter and James Biden below.
This video is from the In Search Of Truth channel on Brighteon.com.