WASHINGTON—Today, House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) and Committee Republican lawmakers held a press conference detailing evidence uncovered during the committee’s investigation into the Biden family’s influence peddling schemes. During his remarks, Chairman Comer pointed to financial records tracing at least $10 million from foreign nationals and related companies to the Biden family, their associates, and their companies, and outlined how the Bidens took steps to hide payments they received from foreign nationals, including a CCP-linked associate. Chairman Comer revealed that in addition to China, the Biden family received money from Romania in an influence peddling scheme from 2015 to 2017. He concluded by warning that the Biden family’s unethical influence peddling coincided with Joe Biden’s work as Vice President. The Oversight Committee is crafting legislative solutions to prevent this corruption.

Click here to watch the full press conference.

Below are Chairman Comer’s remarks as prepared for delivery.

Thank you all for coming.

Since taking the gavel in January, the Committee on Oversight and Accountability has accelerated its investigation of the Biden family’s domestic and international business practices that we began last Congress.

I want to be clear: this Committee is investigating President Biden and his family’s shady business deals that capitalized on Joe Biden’s public office and risked our country’s national security.

This Committee has a duty to ask questions and pursue the facts no matter where they take us.  Through the Committee’s investigation, we intend to provide transparency to the American people and reach legislative solutions.

In only four months since obtaining subpoena authority, we have made astonishing progress.  Today we’ll talk about that progress.

First, we want to discuss information the Committee has learned since our last press conference in November: new information investigators have uncovered regarding the transfer of money from foreign entities to the Biden family.

Many of the wire payments occurred while Joe Biden was Vice President and leading the United States’ efforts in those countries.

For instance, while Vice President Biden was lecturing Romania on anti-corruption policies, in reality he was a walking billboard for his son and family to collect money.

Hunter Biden and his associates capitalized on a lucrative financial relationship with a Romanian national who was under investigation for—and later convicted of—corruption in Romania.

The Bidens received over $1 million for the deal, and 16 of the 17 payments to their associate’s account that funneled the Bidens money occurred while Joe Biden was Vice President.

In fact, the money stops flowing from the Romanian national soon after Joe Biden leaves office.

This is a pattern of influence peddling.

This appears separate from any payment Hunter received from his work connecting this individual to a U.S. law firm.

We’ll also provide further information regarding the Bidens’ relationship with China.

This includes two individuals the Committee is particularly concerned about. One of them— Ye Jianming—had close ties to the highest levels of the Chinese Communist Party and operated a multi-billion-dollar energy company with access to huge sums of money.

We’ll discuss how the Bidens received millions of dollars from this individual through the use of shell companies and money transfers.

In March, the Committee released its First Bank Records Memorandum that showed a Biden associate—Rob Walker—had used his company to funnel money from the Chinese to various Biden family members.

Democrats dismissed the evidence, even though it was based on bank records received directly from the banks.  The Democrats on this Committee received the same records as the Republicans, and they were able to verify the information.

Democrats said all the bank records showed were Papa Johns and Starbucks receipts. They deliberately chose to misconstrue and deny what was clearly in front of them.

Hunter Biden’s representatives claimed the money was “good faith seed funds” but could not explain why those funds had to go through an intermediary in what appears to be an attempt to hide the transfers from the Chinese. 

They also couldn’t explain why the Bidens received over $1 million in 16 different wire transfers over a period of three months to at least five different bank accounts.

The President, when confronted with this information, said it wasn’t true. 

Instead of being honest with the American people, President Biden has claimed since the 2020 election that his family has not received money from China.

That was a lie in 2020, and he continues to lie to the American people now. 

The Bidens have received millions of dollars from China.  It is inconceivable the President didn’t know about it.

The White House refuses to correct the President’s statements, showing the President is now using the federal government to run interference for his family’s and his own role in these schemes.

Now, I want to say a few remarks about the developments last week.

A week ago, I sent a subpoena to the FBI for a form that a whistleblower has alleged is in the FBI’s possession.

We hope the FBI will be transparent and forthcoming and provide the Oversight Committee with the 1023 form we have subpoenaed.

If they do, the Committee will assess the form it has subpoenaed from the FBI and—as has been my practice—we will report to you only facts when they are verified and indisputable.

This Committee will not pursue witch hunts or string the American people along for years with false promises of evidence that is “beyond circumstantial evidence,” as Representative Schiff and the Democrats did for years.

I trust the whistleblower.  A subpoena from this Committee is a powerful tool that I do not take lightly. The level of detail provided to Senator Grassley led me to conclude a subpoena was warranted, and I stand by that assessment.

I will say this: When Senator Grassley approached me with the information the whistleblower provided, it was because of the information we’ve learned through the Committee’s own investigation that indicated to me the whistleblower’s allegations are consistent with our independent findings.

Those findings are what I called you here to discuss today.

The Committee has reviewed thousands of bank records from individuals and companies affiliated with the Bidens and their associates.

It has received these bank records pursuant to four subpoenas I have issued to different banks.  These were targeted and specific subpoenas, and each was different based on the information we believed the banks possessed.

Every one of those subpoenas returned valuable information that had been unreported and that contributed to the Committee’s understanding of how the Bidens conducted their business.

The Committee is concerned by the complicated, suspicious network of over 20 companies we have identified the Bidens and their associates used to enrich themselves.

Most of these companies were limited liability companies formed during Joe Biden’s vice presidency.

The bank records show the Biden family, their associates, and their companies received over $10 million from foreign nationals and their companies.

Some of that money came from a Chinese company and went to Hunter Biden’s company.

Other transfers occurred with the help of Rob Walker, who then sent it on to different Biden family members.

This is not how lawful businesses usually operate.

Chinese nationals affiliated with the Bidens created limited liability companies in the United States and then in a short period of time transferred their interests to a Chinese company that then sent money to the Bidens.

This is not normal.

Hunter Biden and his associates courted business in countries that correlated directly with Joe Biden’s work as Vice President.

This is also not normal.

It is not ethical.

And this is why we need legislative solutions.

Our purpose here is to provide legislative solutions to prevent this unethical behavior from happening again.

This investigation is about investigating allegations of corruption and fraud at the highest levels of the federal government.

This should be a bipartisan issue.

This Committee is considering legislation that would ensure these sorts of business practices do not continue for Democrats or Republicans.

Specifically, the Committee is crafting legislative solutions aimed at deficiencies it has identified in ethics laws and disclosure laws for immediate family members of Vice Presidents and President.

These deficiencies potentially place American national security and American interests at risk.

Additionally, the Committee is considering legislation that would strengthen reporting requirements related to certain foreign transactions involving senior elected officials’ family members.

Finally, the Committee is evaluating the Bank Secrecy Act and anti-money laundering laws to determine whether financial institutions have the available tools and support from federal agencies to thwart illegal money laundering and foreign corruption activity.

As I said, I am very pleased with the progress the Committee is making in this investigation.

However, due to the information we are releasing today and further developments the Committee is aware of, the investigation will enter a new phase now that it is armed with information obtained in the bank records.

Today, I am issuing a new round of subpoenas to banks for specific, targeted information.

I am issuing letters to provide one more opportunity for certain Biden associates—including his art gallerist and Rob Walker—to cooperate willingly with this investigation.

Finally, I am publicly releasing this Second Bank Accounts Memorandum to the American people so they can see for themselves the activities the Biden family has engaged in, despite the President’s statements to the contrary.

I want to thank the people and financial institutions that have cooperated with this investigation so far.

I also want to encourage more people to come forward and let them know that their information will be kept private and confidential.

To my Democrat colleagues, I want to say that this investigation will continue to move forward.

Do you want to continue covering up the Bidens’ influence peddling schemes when the evidence is being placed right in front of you?

With or without Democrats’ support, we will continue working to deliver the answers, transparency, and accountability that the American people deserve.

I now turn it over to Byron Donalds who will provide some background on the Bidens and their associates’ web of LLCs.