Comer to Provide 'Concerning' Update on Biden Family Business Probe

House Oversight Committee Chair James Comer (R-KY) announced Wednesday he will provide an official update in the coming weeks on the Biden family business investigation upon completion of reviewing the family’s suspicious activity reports (SARs) held at the Treasury Department.

Over the years, U.S. banks have flagged over 150 SARs from Hunter and James Biden that included “large” amounts of money flagged for further review. SARs “often contain evidence of potential criminal activities, such as money laundering and fraud,” according to a 2020 Senate report.

“Over the past 2 weeks, @GOPoversight has combed through Biden family bank records & suspicious activity reports filed against Hunter Biden. We also continue to gather info from whistleblowers,” Comer posted on Twitter. “It doesn’t look good for @POTUS. I will update the American people soon.”

Speaking on Fox News, Comer said the SARs have been “valuable” to his probe. Comer is investigating the Biden family for nine violations, including wire fraud and money laundering.

“We are probably going to have a press conference within the next two week to update the American people on what all we found,” Comer said. “It’s very concerning”:

In March, Comer revealed from the SARs that the Biden family received a collective $1.3 million cut in 2017 from a Biden family business associate, who was sent a $3 million wire transfer from CEFC China Energy Co. Hunter has confirmed the $1.3 million CEFC payout.

Comer believes the Biden family members received the $1.3 million payout in return for favors from Joe Biden.

“That’s not true,” Joe Biden denied the existence of the payout.

The Biden family had previously negotiated a deal with CEFC from which Joe Biden (Big Guy) would receive a ten percent equity stake in the joint venture with Hunter’s former business partner Tony Bobulinski. In 2017, Hunter earned a $1 million legal retainer from the company’s chairman, Ye Jianming. Hunter also received a large diamond from Ye worth an estimated $80,000 in February 2017.

RELATED: CNN’s Burnett: Biden Family Payment Evidence ‘Doesn’t Look Good’:

Comer has additionally uncovered that a top Biden family business associate received $179,836.86 on November 5, 2015, while Joe Biden was vice president, a previously unreported sum. Although the amount appears to be insignificant to the $31 million received by the business during Joe Biden’s reign as vice president, the new finding builds upon the previous reporting in 2022 by Breitbart News senior contributor Peter Schweizer.

The SARs are also likely to provide a money trail from Hunter and James Biden to a Ukrainian energy company. In April 2014, Hunter joined the board of Burisma, just two years before Joe Biden stated he forced the firing of prosecutor Viktor Shokin investigating Burisma. Despite Hunter’s lack of experience in Ukraine or the energy sector, he was paid $83,000 per month by the energy company or $1 million per year — just weeks after his father was announced “point person” on U.S. foreign policy toward Ukraine.

WATCH: White House  Spox DODGES Question About Chinese Payments to Biden Family: “I’m Just Not Going to Even Respond”:

Comer’s investigation has also encompassed subpoenaing four major U.S. banks and one individual. The subpoenaed banks are Bank of America, Cathay Bank, JPMorgan Chase, and HSBC USA N.A.

The subpoenaed individual is the Biden family’s CEFC partner, Mervyn Yan. As a former CEFC official, Yan was an integral member of the Chinese energy conglomerate with strong ties to the Chinese Communist Party. Yan appears to be one of the few top CEFC officials who has not been detained or arrested.