Chairman of the House Committee on Oversight and Accountability James Comer (R-Ky.) released a third bank records memorandum Wednesday which outlined how President Joe Biden’s family members and their business associations received tens of millions of dollars from foreign oligarchs during Biden’s vice presidency.
The Committee has now identified over $20 million in payments from foreign sources to the Bidens and their associates from when Biden was vice president to former President Barack Obama, including from Russia, Kazakhstan, and Ukraine.
Devon Archer, Hunter Biden’s former business partner with whom he started the investment firm “Rosemont Seneca Partners” in 2009, recently testified that Hunter put his then-VP father on speakerphone over 20 times during business meetings in order to sell the Biden “brand,” and to send “signals” of access, power, and influence.
In his testimony, Archer said that the Ukrainian natural gas company, Burisma, was only able to survive for as long as it did because Hunter Biden was on the board, which meant “people would be intimidated to mess with them.”
Archer and Biden were placed on the board of Burisma in 2014, and received salaries of $1 million per year each, for a total of $6.5 million from the company over the course of their employment.
The third bank records memorandum outlines how in February 2014 Russian billionaire Yelena Baturina transferred $3.5 million to Rosemont Seneca Thornton, a shell company controlled by Archer and Hunter Biden.
Approximately $1 million was transferred to Archer, and the remainder was used to fund a new company account, Rosemont Seneca Bohai, which Archer and Hunter Biden also used to receive other foreign wire transfers.
In April 2014, a Kazakhstani oligarch wired the exact price of Hunter Biden’s sportscar to a bank account used by Archer and Biden.
In February of that year, Hunter Biden met with Kenes Rashikev, an oligarch who worked closely with the prime minister of Kazakhstan, Karim Massimov.
Two months later, Rashikev wired $142,300 to Rosemont Seneca Bohai — the next day, that account made a payment of $142,300 to buy a sports car for Hunter Biden.
Archer confirmed in his testimony that the payment was indeed for Hunter’s car.
Archer and Biden then set up a meeting in Kazakhstan to evaluate a three-way deal between Burisma executives, a Chinese state-owned company, and the government of Kazakhstan.
The memorandum finds that Hunter Biden received millions of of dollars in payments from Yelena Baturina, Burisma, and Kenes Rakishev, and that then-VP Joe Biden had dinner with them in the spring of 2014 and 2015 in Washington, D.C.
“During Joe Biden’s vice presidency, Hunter Biden sold him as ‘the brand’ to reap millions from oligarchs in Kazakhstan, Russia, and Ukraine. It appears no real services were provided other than access to the Biden network, including Joe Biden himself,” said Oversight Committee Chairman James Comer.
“And Hunter Biden seems to have delivered. This is made clear by meals at Café Milano where then-Vice President Joe Biden dined with oligarchs from around the world who had sent money to his son,” Comer said.
“It’s clear Joe Biden knew about his son’s business dealings and allowed himself to be ‘the brand’ sold to enrich the Biden family while he was Vice President of the United States,” he said. “The House Oversight Committee will continue to follow the money trail and obtain witness testimony to determine whether foreign actors targeted the Bidens, President Biden is compromised or corrupt, and our national security is threatened.”