President Joe Biden is at the center of an extremely lucrative 'extortion scheme' between members of his family and foreign actors - including China - charge Republicans.
Chairman James Comer, R-Ky., unveiled the existence of a $40,000 direct payment to Joe from 2017 labeled as a 'loan repayment' that he claims is 'laundered money' that can be traced back to the Chinese.
Comer's Oversight Committee is spearheading the probe into the Biden family's 'influence peddling' operation as part of the larger impeachment inquiry into the president.
According to new bank records they obtained through recent subpoenas for James and Hunter Biden's financial records, a money trail beginning in July 2017 snaked from Chinese oil giant CEFC - one of Hunter's joint ventures - into Joe's account.
In WhatsApp messages from August 2017 previously published by DailyMail.com, Hunter demanded $10 million from CEFC, and claimed his father was 'sitting here' next to him during the exchange.
After an initial $5 million from CEFC was put in the joint venture on August 8, 2017, and a transfer of $400,000 was placed into Hunter Biden entity Owasco, P.C. on the same day. Then, $150,000 was transferred directly from Owasco into the bank account of James and Sara Biden - Joe's sister-in-law - on August 14, 2017.
Then on September 3, 2017, Sara wrote a $40,000 check direct to Joe - just six days after she took out $50,000 in cash, according to the obtained documents.
This is the fourth 'Bank Records Memorandum' released by the committee so far this year to inform members of their ongoing investigation.
Joe Biden has previously stated that Hunter never made money from China, and the White House has maintained that the president never benefitted from his family's business ventures.
Last month, Republicans revealed a separate $200,000 personal check from James Biden to Joe Biden.
According to bankruptcy court documents obtained by the House Oversight Committee, James Biden took money from his health care business Americore and sent it directly to his brother Joe Biden.
The documents show that in 2018, James Biden obtained $600,000 in loans from Americore. James was able to receive the loans based upon 'representations' that his last name, 'Biden,' could 'open doors.'
On March 1, 2018, Americore wired a $200,000 loan into the personal bank account of James and Sara Biden.
