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China gave Biden family $5 million ‘interest free’ ‘forgivable’ loan, Sen. Grassley says

President Joe Biden pauses as he delivers remarks on Protecting Access to Reproductive Health Services in the Roosevelt Room of the White House on July 8, 2022, in Washington, D.C. (Yuri Gripas/Abaca Press/TNS)
October 18, 2022

The Biden family took a $5 million interest-free, forgivable loan from a Chinese Communist Party-linked energy conglomerate in 2017, Sen. Charles Grassley (R-IO) said in a recent letter citing FBI records.

Senate Judiciary Committee Ranking Member Grassley shed light on the loan and called for transparency in the FBI’s Hunter Biden investigation in a new letter to top law enforcement officials.

Sources familiar with the investigation say that federal investigators already have a pile of evidence to charge Hunter Biden with tax fraud related to his foreign business dealings, but in his letter, Grassley wonders whether this evidence is part of that record.

He wrote that whistleblowers have shown him the FBI has “significant, impactful and voluminous” evidence of “potential criminal conduct” by President Biden’s son, Hunter, and brother, James, including material related to the Chinese loan.

The loan from CEFC China Energy, a now-bankrupt Chinese conglomerate, was supposed to pay for business deals and investments that Hunter and James Biden helped bring about while Joe Biden was vice president, according to the bureau’s summary of an FBI interview with Hunter Biden associate Tony Bobulinski.

When there was a delay in receiving the millions, President Joe Biden’s son Hunter Biden “yelled” at Chinese officials to get it done, according to a document cited by Grassley

Those dealings had been “intentionally uncompensated” while Joe Biden was vice president, according to the summary.

Documents show the money was originally intended for a joint venture between the Biden family, Bobulinski and two other associates. 

An email obtained by Just The News revealed a CEFC official said the interest-free loan was raising red flags around the company. Afterward, a $5 million wire from a CEFC-connected company came directly to firms tied to Hunter and James Biden, bypassing the joint venture, according to Grassley.

Grassley noted that other FBI documents suggest “potential criminal conduct by Hunter Biden” relating to his lucrative ties to Ukrainian energy company Burisma, some of which Joe Biden “may have been involved in.”

He wrote that the “continued silence on these matters” from the Justice Department and FBI “is deafening and further erodes their credibility.”

“Simply put, enough is enough,” he wrote. “The Justice Department and FBI must come clean to Congress and the American people with respect to the steps they have taken, or failed to take, relating to the Hunter Biden investigation.”