News/Commentary

Several banks hit with subpoenas as House Oversight Committee continues to probe Biden family finances

April 8, 2023 | | Print Article

The GOP-led House Oversight Committee has formally subpoenaed multiple banks for access to the financial records of President Joe Biden’s family members and associates.

Incidentally, this news comes courtesy of Democrat members of the committee who this week filed a public memo complaining about their Republican colleagues’ alleged lack of transparency.

“Committee Republicans’ decision to conduct this probe behind a veil of secrecy runs counter to the Committee’s traditional commitment to transparency and raises serious questions about the integrity of the investigation,” the memo reads, according to CNN.

Oversight Committee Republicans have pushed back on this accusation:

Here’s the problem: In complaining about the committee’s alleged lack of transparency, Democrats also revealed details about their Republican colleagues’ subpoenas.

“According to the Democrats’ memo, subpoenas have been sent to: Bank of America, Cathay Bank, JPMorgan Chase, HSBC USA N.A and Mervyn Yan, a former business associate of Hunter Biden,” CNN reported Friday.

“In most cases the subpoenas to the banks span 14 years and relate to six individuals and 10 different entities, House Democrats say. The business entities covered by the subpoenas include several with ties to China and the energy sector, according to those listed in the memo,” the media outlet added.

Committee chair James Comer, a Republican, was not pleased by this development. In a statement issued Friday, he slammed committee ranking member Jamie Raskin, a Democrat, for allowing this to happen.

“Ranking Member Raskin has again disclosed Committee’s subpoenas in a cheap attempt to thwart cooperation from other witnesses. No one should be fooled by Ranking Member Raskin’s games. We have the bank records, and the facts are not good for the Biden family,” he said.

Comer also published a press release accusing Raskin of acting like the Biden family’s lawyer instead of a lawmaker conducting oversight.

“Ranking Member Raskin is playing lawyer for the Biden family instead of engaging in real oversight for the American people. When the facts don’t go the Biden family’s way, Ranking Member Raskin lodges baseless accusations. But unlike Ranking Member Raskin’s distortions, bank records don’t lie,” the press release reads.

“Just a few weeks ago, when making public the Oversight Committee’s first subpoena to a bank, Ranking Member Raskin tried to brush away the documents as just purchases at Papa John’s and Starbucks, conveniently omitting, as just one example, a Chinese company’s $3 million wire to an associate of the Biden family who proceeded to transfer more than $1 million of it to various Biden family accounts,” it continues.

Comer added in the memo that, based on Raskin’s prior behavior, it seems he’s the one “trying to hide” things, not Republicans — which would explain why whistleblowers have been approaching Republican members of the committee.

“Multiple individuals have approached the Oversight Committee as whistleblowers with a desire to share information confidentially. It should be no surprise that whistleblowers do not trust Ranking Member Raskin. He has revealed himself to be untrustworthy by releasing disingenuous, misleading financial information from the Committee’s investigation,” the press release reads.

“These desperate attacks launched by the Ranking Member will undoubtedly continue, but it’s a sad display that the American people can see through. Instead of throwing a tantrum about the Committee’s oversight, Democrats’ time would be better spent continuing to coordinate with the Biden family to come up with a believable explanation for what the bank records continue to show. As we continue to work to uncover the truth, we will be undeterred by Ranking Member Raskin’s antics.”

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Vivek Saxena
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