House Oversight Committee To Review Hunter Biden Treasury Reports

The U.S. Treasury Department has agreed to allow the House Oversight Committee access to review suspicious activity reports (SARs) related to Hunter Biden and his associates’ business transactions, according to a statement by committee Chairman Rep. James Comer (R-KY). The decision comes after a two-month standoff between the committee and the Treasury Department.

In January, Comer sent a letter to Treasury Secretary Janet Yellen requesting information about the Biden family’s finances, including access to SARs associated with their business transactions flagged by U.S. banks. The Treasury has now granted the committee “in camera access” to the requested reports, ending the impasse.

Comer has been urging the Treasury to comply with his request since January. In early March, he called on Treasury Department official Jonathan Davidson, the assistant secretary for legislative affairs, to appear before the committee in a transcribed interview explaining the delay in providing the requested information. The interview has been postponed now that the Treasury has officially agreed to cooperate.

According to Comer, Congress “has had access to these reports, but the Biden administration changed the rules out of the blue to restrict our ability to conduct oversight.” Davidson had sent a letter to Comer on March 3rd, outlining the Treasury’s process for ensuring that sensitive law enforcement material is identified and handled correctly.

The SARs in question are related to Hunter Biden’s foreign transactions, which have been under federal investigation since 2018. The transactions involved financial dealings from “China and other foreign nations.”

In addition to the Treasury Department’s request, the committee has collected documents and records on the Biden family’s questionable business dealings. For example, the committee subpoenaed the Bank of America for over a decade of records of Hunter Biden’s business associates, including Rob Walker. Walker had worked with Hunter, President Biden’s brother Jim, and their associates James Gillar and Tony Bobulinksi in a joint venture called Sinohawk Holdings, intended as a partnership between the Biden family, their business associates, and Chinese energy firm CEFC.

Comer revealed that bank documents already obtained indicate that a company owned by a Biden associate received a $3 million wire from a Chinese energy company two months after Joe Biden left the vice presidency, with hundreds of thousands of dollars in payouts subsequently going to Biden family members.

The House Oversight Committee chairman has vowed to “follow the money trail” to determine the extent of the Biden family’s business schemes, whether these deals compromise Joe Biden, and if there is a national security threat. Comer warned that if the Treasury attempts to stonewall the investigation again, the committee will continue to use the tools at its disposal to compel compliance.

With the Treasury Department now providing access to the suspicious activity reports, the Oversight Committee’s investigation into the Biden family’s business transactions is expected to proceed, although the outcomes and potential implications of the inquiry remain uncertain.