“What Were These Family Members Doing to Receive This Money?” – Rep. James Comer with Maria Bartiromo on the Biden Family Money Laundering Schemes

 

Representative James Comer was on Sunday Morning Futures with Maria Bartiromo to discuss his recent revelations about the Biden family.

Rep. James Comer shared today with Maria Bartiroma that there are many more LLCs and many more countries involved in the Biden family money laundering schemes.

China is probably the most reputable country that the Biden family was dealing with.  The question remains, what were these family members doing to receive this money?

There’s no rhyme or reason for some of these Biden family members to receive any type of payment from our adversaries around the world not including the number that we’ve uncovered and we’re still digging through these pay violations.

Then Maria discussed a possible reason for the payments the Biden family was receiving.  Something that we discussed at the TGP for some time.  Joe Biden gave Chinese firms easy access to US markets where they wouldn’t have to comply with the rigorous Sarbanes-Oxley regulation that US companies had to comply with.

In 2013, Vice President Joe Biden brokered a deal with China that gave the country access to US markets without having to comply with US compliance regulations that US companies had to comply with.  John Solomon at Just the News reported:

 

Since 2013, Chinese companies have been allowed to participate in U.S. stock and bond exchanges without having to fully comply with the same Sarbanes-Oxley Act accounting practices and risk disclosure required of American companies.

The concession was made in a little-noticed Memorandum of Understanding executed seven years ago by the Public Company Accounting Oversight Board (PCAOB), a nonprofit regulator empowered by the Sarbanes-Oxley law to ensure U.S. investors are protected from making bad investments because of faulty audits or financial information.

The agreement was reached in May 2013 after Chinese leaders pleaded for improved access to American capital markets in multiple meetings with then-Vice President Joe Biden, transcripts from the Obama administration’s archives show.

The Sarbanes-Oxley legislation cost US companies millions, if not billions, in compliance costs since put in place after the Enron collapse.  For some reason, Biden thought Chinese companies should not have to comply with these requirements that are required of American companies to ensure accurate financials and key controls throughout company operations worldwide.  These controls are audited at least annually and at a significant cost to the entity.  There are also significant costs to prepare for these audits.

Rather than ensure China’s companies were at least as accurate in their reporting and as well-controlled, Biden gave Chinese companies a pass on the same requirements mandated of US companies.  This deal allowed Chinese companies to obtain billions, if not trillions, in capital not available in China.

Here is Maria’s interview with James Comer.

The Biden family business model is built on Joe Biden’s political career.

We now know at least 9 Biden family members sold access for profit around the world. What were our foreign adversaries paying for?@GOPoversight will deliver transparency & accountability. @MariaBartiromo pic.twitter.com/VnJ6Oa7f3G

— Rep. James Comer (@RepJamesComer) April 23, 2023