While reports said that "flagged" transactions do not necessarily mean they were improper or illegal, it does mean that they are being reviewed. One of the reasons for doing this is to determine whether or not there has been an effort to hide the source of the transactions. The amounts of various transactions and their frequency can also make a bank want to ask questions to the account holder to determine what is going on.
However, there are no details yet regarding the results of the review.
Republican Senator Chuck Grassley of Iowa said he believes James Biden to be "instrumental" in Hunter's business activities in China. Moreover, James Biden's company, the Lion Hall Group, was said to have received money from what the reports said was a Chinese-financed group in 2018.
Grassley noted the monthly retainer fees from a Chinese group amounted to $100,000 for Hunter Biden and $65,000 for James Biden. Grassley also agreed that the records they have been reviewing came directly from the banks, with no third parties involved.
However, CBS News noted that the federal subpoena sought bank records from the two Bidens going back to 2014.
Robert Weissman of the advocacy group Public Citizen said Hunter and James should not have entered into relationships with the Chinese. "In the best case, those things look really bad. In the worst case, the consequences can be quite serious, to the extent those occurred while Joe Biden was the vice president, there's a worry that they hope to get something direct from the Obama administration," he said.
He also noted that the concerns do not end when Joe left the vice presidency, because there was a concern about investing in his family members to get future benefits in the possibility that he will become president later on.
Grassley also said new records show Hunter and an executive of a Chinese firm applying jointly for a $99,000 line of credit in 2017 – the first records that have ever been made public on the issue.
In the September 2020 report with Senator Ron Johnson of Wisconsin, Grassley said Hunter, James and his wife Sara tapped into the line of credit to purchase over $100,000 in airline tickets, hotels and restaurants.
"These years of records show that Hunter Biden and James Biden were more connected to the communist regime’s elements than had been previously known," Grassley said. (Related: Hunter Biden's laptop reveals Biden family's ties to "secret biological projects" in Ukraine.)
Political scrutiny of First Family not unusual
The Bidens were not the first to be scrutinized for their bank transactions. In 2019, a bank handling business for members of the Trump family was also flagged for similar reviews. However, a spokesperson for the Trump Organization said at the time that company officials were not aware of such flagged transactions.
James Biden's name, however, surfaced last year in connection with a separate international business venture, which he abandoned after a White House ethics review flagged it for potentially involving conflicts of interest.
Family members of the president are also required to notify the White House counsel's office regarding business engagements, which are then reviewed for conflicts of interest or the appearance of conflicts. The office then advises them on their findings and makes decisions about how to proceed. (Related: There's a reason the media are suddenly reporting on Hunter Biden's corruption.)
James was reported to have been involved with a number of finance and business ventures, including insurance and political consulting jobs, as well as an interest in a nightclub.
Hunter's and James' attorneys did not respond to requests for comment. The White House chief of staff did say the actions of Hunter and James are private matters that do not involve the president, although federal officials have confirmed that Hunter is the focus of an ongoing investigation out of the U.S. Attorneys' office in Delaware regarding tax and other financial issues.
The president also said he was not involved in his son's and brother's business dealings.
Follow Corruption.news for more updates about the Bidens' dealings with foreign companies.
Watch the video below for more information about the investigation on Hunter Biden's finances.
This video is from the In Search Of Truth channel on Brighteon.com.
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