The Biden family’s lucrative business with CEFC China Energy Co. originated when President Joe Biden served as America’s vice president, which exposed him to blackmail as the president, Sen. Ted Cruz (R-TX) said Friday.
The timeline of the Bidens’ relationship with CEFC led critics to question if the Bidens received money on a delayed basis to conceal payments.
The Bidens began working with CEFC on December 7, 2015, according to the House Oversight Committee.
Nearly two years later, in 2017, Joe Biden received $40,000 in “laundered” CEFC China Energy Co. money from the account of his brother, James Biden, and sister-in-law, Sara Biden, in the form of a personal check labeled as a “loan repayment,” committee investigators alleged Wednesday.
“It’s also worth remembering that Biden family efforts to secure millions from this Chinese company began when Joe Biden was still vice president,” Cruz said on his podcast, the Verdict with Ted Cruz. “In taking funds sourced to a CCP-linked company that wanted to advance China’s interest, Joe Biden exposed himself to future blackmail and put America’s interests behind his own desire for money.”
“Not only did he [Joe Biden] lie about his son Hunter making money in China, but it also turns out that $40,000 in laundered China money landed in Joe Biden’s bank account in the form of a personal check, and the Oversight Committee has it,” Cruz said.
“At the end of the day, having a president of the United States whose family had a family business of making millions of dollars, selling favors from Joe Biden, that remains a serious issue of corruption,” Cruz continued. “And I think the evidence keeps getting worse.”
“Are they trying to hide this in some way in order to not pay taxes or to do X, Y, or Z? But that’s murky,” said one legal expert who asked to remain anonymous for fear of retribution. “If they’re trying to hide it [money], and that’s the key thing — there’s clear tax obligations for every American.”
“That’s probably the most straightforward legal case,” he said.
Follow Wendell Husebø on Twitter @WendellHusebø. He is the author of Politics of Slave Morality.
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