Reports of potential financial wrongdoing in the Biden family have escalated with the revelation of 170 suspicious activity reports (SARs) submitted by six major banks to the United States Treasury Department. This evidence, brought to light by Senator Ted Cruz (R-TX) and House Oversight Chairman James Comer (R-KY) in a recent podcast discussion, has spurred further inquiries into the Biden family’s financial activities.
SARs, rarely submitted documents that indicate strong suspicions of financial crimes, are potentially damning indicators of illegality. As former bank director Comer explains, “a large transaction that comes out of the blue” can trigger an SAR, a process that effectively invites regulatory scrutiny.
Having more than one or two SARs against one’s name makes it challenging to open a new bank account, making the 170 reports against the Bidens alarmingly significant.
Prominent banks like JP Morgan, Bank of America, and Wells Fargo have implicated the Bidens in allegations ranging from money laundering and human trafficking to tax fraud. More worryingly, the reports suggest that the Bidens received suspicious wire transfers from foreign state-owned entities, particularly the Chinese government, ostensibly for money laundering and tax evasion.
These funds were allegedly routed through 20 shell companies associated with the Bidens before being divided among various family members. This complex trail of money, Cruz notes, suggests an intricate system designed to deceive the IRS, a hallmark of money laundering and racketeering.
Rob Walker, an associate of the Bidens, stands accused of funnelling laundered money from China and Romania into these shell companies. Comer highlights one particularly suspicious transaction involving Walker: a sudden $3 million wire from China into a previously dormant account, which was then distributed to various Biden-owned shell companies. This behavior strongly implies an intention to conceal the funds’ origin and avoid tax liabilities.
Despite their deep ties to the Democratic party, these large banks–fully aware of the legal implications–have served as whistleblowers in this situation. Ben Ferguson, legal expert and podcast co-host, expresses his shock at the audacity of the alleged activity, stating, “an American bank is writing that ‘we believe a wire transfer coming into the Biden family is coming from the Chinese Communist government, not an entity… and we’re saying it’s money laundering on top of coming from the Chinese Communist government.'”
The accusation that the Bidens employed shell companies–essentially ‘fake’ entities used to deceive the IRS and evade taxes–only intensifies these allegations. According to Comer, the money flow’s complexity signifies that “it’s like organized crime.”
Additional evidence includes hundreds of thousands of emails, texts, photos, audio recordings, and other data suggesting the Biden family’s involvement in illegal activities spanning multiple countries. Yet, despite credible accusations and substantial evidence, critics contend that the Justice Department has been obstructing the Hunter Biden investigation.
Senator Cruz has voiced strong opinions about the mounting allegations, advocating for a thorough investigation and potential impeachment if the charges are substantiated. Cruz argues, “the evidence keeps mounting up, and every day it looks worse and worse and worse for Joe Biden’s direct culpability in official corruption.”