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A top House Republican is demanding Secretary of the Treasury Janet Yellen provide information about the Hunter Biden's suspicious foreign business dealings, while accusing the Biden administration of stonewalling Republicans as they conduct an investigation.
Biden has been under federal investigation for his tax affairs predicated by suspicious foreign transactions since 2018, and President Joe Biden has repeatedly denied discussing Hunter's business ventures with him.
Rep. James Comer, R-Ky., who serves as the ranking member on the House Oversight Committee, wrote a letter to Yellen Wednesday demanding details about shady business dealings conducted by Hunter Biden, his associates, and other Biden family members, which have been flagged and reported by U.S. banks.
Comer previously reached out to Yellen at the end of May, making a similar request for the reports by the banks, of which he says went unanswered.
Hunter Biden goes to lunch with his daughter Maisy Biden in Malibu, California, Tuesday, June 7, 2022. (RMBI/Backgrid)
"On May 25, 2022, I wrote to you requesting information regarding Hunter Biden and other Biden associates and family members’ financial transactions flagged by U.S. banks for reporting to the Financial Crimes Enforcement Network (FinCEN) through Suspicious Activity Reports (SARs)," states Comer.
"The Biden Administration is restricting Congress’ access to SARs, and Committee Republicans are investigating whether this change in longstanding policy is motivated by efforts to shield Hunter Biden and potentially President Biden from scrutiny," Comer continued, noting that the secretary did not comply with a June 8 deadline for information.
Comer also accuses the administration of thwarting congressional oversight, referencing a Wall Street Journal article that he states contains false information – that Treasury has made the requested SARs available to Republican staff.
"It is troubling that the Biden Administration is willing to provide a false story to the media to create the appearance of transparency while continuing to thwart congressional oversight," Comer fires back in the letter.
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The letter continued: "Treasury’s actions call for investigation and raise new questions about the degree to which the Biden Administration is using the federal government to provide cover for the Biden family and its associates … The American people deserve to know whether the President’s connections to his son’s business deals occurred at the expense of the United States’ interests and whether they represent a national security threat."
Rep. James Comer wrote a letter to Treasury Secretary Yellen Wednesday demanding details about business dealings conducted by Hunter Biden, his associates and other Biden family members that have been flagged and reported by U.S. banks. (Tom Williams/CQ-Roll Call, Inc via Getty Images/Pool)
Fox News Digital has reported that Hunter Biden's longtime business partner, Eric Schwerin, visited the White House at least 27 times when President Biden was serving as former President Barack Obama's vice president.
In addition, Hunter Biden and Schwerin's private equity firm had a financial stake in a company run by Francis "Fran" Person, a longtime Biden aide, and a Chinese executive with ties to officials at some of the highest levels of the Communist Party of China.
As a result, on behalf of the Oversight Committee, Comer sent letters to a handful of U.S and foreign banks in May seeking information on whether the Biden family "sold access" into the top tier of the government to enemies of the United States.
Treasury Secretary Janet Yellen attends the House Financial Services Committee hearing in Washington, Sept. 30, 2021. (Al Drago/Pool via Reuters/File)
An aide for Comer told Fox News Digital that the committee has not yet received any responses from the banks, which have said they cannot comply without a subpoena.
Fox News first reported in December 2020 that Hunter Biden was a subject/target of the grand jury investigation, a well-placed government source told Fox News. According to the source, a "target" means that there is a "high probability that person committed a crime," while a "subject" is someone you "don’t know for sure" has committed a crime."
A source familiar with the investigation said the SARs were regarding funds from "China and other foreign nations."
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A spokesperson for the Treasury Department told Fox News Digital that the agency has made SARs available after committee requests and is "not a political process"
"Treasury provides SARs to Congress in a manner that enables robust oversight and that is consistent with how other sensitive law enforcement information is often produced. It is not a political process. Since the beginning of this Administration, Treasury has made SARs available in response to authorized committee requests and continues to engage on the process with any individual members seeking information."
Fox News' Brooke Singman, Cameron Cawthorne and Joe Schoffstall contributed to this report.
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