US banks have reported more than 150 suspicious financial transactions from Hunter and James Biden, according to CBS News on Wednesday.
The large number of transfers included “Large” sums of money have been sent for further scrutiny by U.S. banks, CBS News reported of the Biden family’s business dealings.
For years, wire transfers have been the tool of choice for money launderers. To mitigate risk to financial institutions, suspicious wire transfers over $10,000 are flagged for review. Wire transactions involving more than $10,000 must also be reported to the Internal Revenue Service.
Additionally, international electronic payments, such as those to James and Hunter, are monitored by the Office of Foreign Assets Control to ensure that the money is not part of corrupt business schemes.
A grand jury is currently investigating the Biden family for tax evasion, money laundering and violation of lobbying laws in connection with corrupt business deals made while President Joe Biden held senior positions in the US government.
Both James and Hunter Biden were paid directly by Chinese entities and promised fees for their work in China, totaling $165,000, Sen. Chuck Grassley (R-IA) told CBS News.
CBS: “More than 150 transactions involving the global business affairs of Hunter or James Biden have been flagged as concerns by U.S. banks for further review.”
Meanwhile, Biden’s White House has its head in the sand: “We’re not commenting on the laptop.”pic.twitter.com/1rujiMhJGf
— Steve Guest (@SteveGuest) April 7, 2022
According to former Utah U.S. attorney Brett Tolman, the Biden family’s payout mechanism could reveal the heart of an established business enterprise, which could involve legal “predicates” for racketeering charges.
Reports indicate that Hunter and Joe share bank accounts.
Constitutional scholar Jonathan Turley believes a special advocate should be appointed by Attorney General Merrick Garland to investigate Hunter’s corruption. Turley noted that Joe Biden has denied any wrongdoing by Hunter and may have influenced the ongoing investigation.
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