U.S. banks flagged over 150 suspicious financial transactions from Hunter and James Biden, according to CBS News on Wednesday.
The great number of wire transfers included “large” amounts of money tripped for further review by American banks, CBS News reported about the Biden family business operations.
For years, wire transfers have been the tool of choice for money launderers. To mitigate the risks to the financial institutions, suspicious wire transfers over $10,000 are flagged for review. Wire transactions involving more than $10,000 are also to be reported to the Internal Revenue Service.
Moreover, international wire payments, such as those to James and Hunter, are monitored by the Office of Foreign Assets Control to ensure the money is not a part of corrupt business schemes.
A grand jury is currently investigating the Biden family for tax fraud, money laundering, and the violation of lobbying laws in relation to corrupt business deals undertaken while President Joe Biden was in top positions in the U.S. government.
James and Hunter Biden were both directly paid by Chinese entities and promised retainer fees for their China work, totaling $165,000, Sen. Chuck Grassley (R-IA) told CBS News.
The wire transfers could be the intake component of a greater payout mechanism. In 2019, Hunter revealed in texts the Biden family’s payout vehicle. The detailed mechanism indicates a collection of 50 percent of familial salaries for 30 years.
“I hope you all can do what I did and pay for everything for this entire family for 30 years,” Hunter described in texts to his daughter. “It’s really hard. But don’t worry, unlike Pop [Joe], I won’t make you give me half your salary.”
According to emails from Hunter’s laptop, Hunter paid Joe Biden’s phone bill and various expenses while Joe Biden served as vice president, the New York Post reported:
[W]hile Joe was vice president, Hunter routinely paid at least some of his father’s household expenses, including AT&T bills of around $190 a month.
We know from an e-mail on June 5, 2010, with the subject “JRB bills” to Hunter from Eric Schwerin, his business partner at Rosemont Seneca, that he was expected to foot hefty bills to Wilmington contractors for maintenance and upkeep of his father’s palatial lakefront property. Joe’s initials are JRB, for Joseph Robinette Biden.
The bills that June included $2,600 to contractor Earle Downing for a “stone retaining wall” at Joe’s Wilmington estate, $1,475 to painter Ronald Peacock to paint the “back wall and columns” of the house, and $1,239 to builder Mike Christopher for repairs to the air conditioning at the cottage of Joe’s late mother, Jean “Mom-Mom” Biden, which was on his property and which he would later rent to the Secret Service for $2,200 a month.
According to former Utah U.S. attorney Brett Tolman, the Biden family’s payment mechanism may reveal the core of an entrenched business enterprise, which could involve legal “predicates” for racketeering charges.
Reports indicate Hunter and Joe shared bank accounts.
Constitutional scholar Jonathan Turley believes a special counsel should be appointed by Attorney General Merrick Garland to study Hunter’s corruption. Turley noted Joe Biden has denied any wrongdoing by Hunter and may have influenced the ongoing investigation.
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