House Oversight Committee Chair James Comer, R-Ky., on Wednesday outlined what he called a "pattern of influence peddling" by President Joe Biden's family, revealing information the committee obtained showing that the "family, their associates, and their companies received over $10 million from foreign nationals and their companies."
"Some of that money came from a Chinese company and went to Hunter Biden's company," Comer said in a press conference, referring to the president's son. "Other transfers occurred with money from foreign entities to the Biden family, with many of the wire payments occurring while Joe Biden was vice president and leading the United States' efforts in these countries."
Comer noted that the committee has had subpoena power for just four months, and has made "astonishing progress" in uncovering information on Biden family members.
While much of the information centered around connections with China, other countries were also involved, Comer said.
"First instance, Vice President Biden was lecturing Romania on anti-corruption policies," said Comer. "In reality, he was a walking billboard for his son and family to collect money. Hunter Biden and his associates capitalized on a lucrative financial relationship with the Romanian nationals who were under investigation for and later convicted of corruption in Romania. The Bidens received over $1 million for the deal."
Comer added that 16 of 17 payments to an associate's account that "funneled" the money occurred while Biden was the vice president, and "the money stops flowing from the Romanian nationals" soon after Biden left the vice presidency.
The committee also provided information on the Biden family's relationship with China, posting its outlines on its Twitter account during the press conference.
In one chart, the trail of the money is shown coming from Chinese President Xi Jinping and heading through several levels and accounts before eventually reaching payments to Hunter Biden, the president's brother and his wife, James and Sara Biden, to Hallie Biden, the wife of the president's late son, Beau, and to an "unnamed Biden."
Comer said the committee is particularly concerned with Ye Jianming, former chair of the Shanghai-based CEFC China Energy conglomerate, who "had close ties to the highest levels of the Chinese Communist Party and operated a multibillion-dollar energy company with access to large sums of money."
“The Bidens' foreign entanglements are breathtaking and raise serious questions about why foreign actors targeted the Biden family, what they expected in return, and whether our national security is threatened," Comer said in a media statement posted to the House Oversight Committee's website, in which the new findings are outlined.
"We will continue to pursue additional bank records to follow the money trail and inform legislative solutions to prevent this type of corruption. Americans deserve answers, transparency, and accountability."
Meanwhile, Comer said the president has claimed since 2020 that his family never received money from China.
"That was a lie in 2020, and he continues to lie to the American people now," said Comer. "The Bidens have received millions of dollars from China. It is inconceivable that the president did not know it."
Comer added that he subpoenaed the FBI a week ago for a document a whistleblower says shows that Biden, as vice president, received payment in a pay-for-play scheme, but that document has not yet been turned over.
"Chinese nationals affiliated with the Bidens created limited liability companies in the United States and then in a short period of time transferred their interest to a Chinese company that sent money to the Bidens," said Comer. "This is not normal. Hunter Biden and his associates courted business in countries that correlated directly with Joe Biden's work as vice president. This is also not normal. It is not ethical. And this is why we need legislative solutions."
Meanwhile, the House Oversight Committee is crafting legislative solutions to strengthen reporting requirements related to certain foreign transactions involving senior elected officials, and evaluating the Bank Secrecy Act and money laundering laws, Comer said.
Comer said that with the information released Wednesday, the committee is moving its investigation into a new phase, and that he will issue a new round of subpoenas to banks for specific-targeted information.
Rep. Andy Biggs, R-Ariz., also speaking during the press appearance, explained in further detail some of the information the committee uncovered, including how the Bidens used an associate, Rob Walker, "to bring in millions of dollars" from China and Romania through Walker's limited liability company, Robinson Walker LLC.
Biggs said the company paid the Biden family members more than $2 million after foreign money hit his account.
"For example, on March 1, 2017, only two months after Joe Biden left office, Robinson Walker received a $3 million wire from State Energy HK," said Biggs. "The next day, one-third of that money, $1,065,000, went to the bank account in Abu Dhabi of the company, EIG, which was controlled by James Gilead, another Biden associate.
"Over the next three months, Robinson Walker LLC sent 16 incremental payments to over five different Biden accounts totaling $1,065,692."
White House spokesman Ian Sams, in a memo provided to Fox News Digital early Wednesday, accused Comer of "loudly and proudly broadcasting a press conference today to continue his long pattern of making absurd claims that President Biden has made governing decisions not in the interest of America, but of the Chinese Communist Party, using baseless claims, personal attacks, and innuendo to try to score political points."
Comer told Newsmax's "The Record with Greta Van Susteren" Tuesday night: "What we have is something no one else has ever been able to produce."
"We have bank records, we have evidence that shows that the Biden family was involved in this extensive influence peddling thing," he said. "It wasn't just the president's son — it was the entire family, so this is of the utmost concern to our committee.
"We're concerned about our national security and we're wondering whether or not this president is compromised because of the millions of dollars his family's received from our adversaries around the world."
Sams said the press conference shows that the investigation is running into problems and that the investigation into Hunter Biden's business dealings has yet to result in an indictment.
Sams also claimed House Republicans, not the Bidens, are guilty of boosting China's interests, saying they have "taken positions that benefit the PRC and its leaders, and worked to erode America's ability to compete with China," including denying legislation that would help finance semiconductor plants in the United States.
"Instead of floating evidence-free innuendo, and making absurd attacks on the President and his family to try to score political points, Chairman Comer and House Oversight Republicans should answer the question: Why have you repeatedly sided with PRC interests over American workers and the American economy, instead of joining President Biden to put in place a strong agenda to create more American jobs and make us more competitive with China?" Sams wrote.
Comer and Sen. Chuck Grassley, R-Iowa, last week subpoenaed a document from the FBI and Justice Department that a whistleblower says describes a pay-for-play scheme involving Biden, when he was vice president and a foreign national.
Democrats on the committee are also pushing back on Comer's claims.
"There's a lot of innuendo and a lot of gossip taking place and much of it is recycled from prior claims," Rep. Jamie Raskin, D-Md., the Oversight Committee's top Democrat, told Politico.
Wednesday's press conference won't be the end of Comer's investigation, as he also is reportedly planning to reveal his next actions, likely including more third-party financial records.