The Treasury Department will comply and release suspicious activity reports (SARs) generated by the Biden family and their associates’ business transactions to the House Oversight Committee, Breitbart News has learned.
The Treasury’s compliance to disclose the SARs is a massive development in the House Oversight Committee’s investigation into the Biden family business to determine if President Joe Biden is compromised by communist China. The committee is investigating the Biden family business for nine violations, including wire fraud and money laundering.
U.S. banks have flagged over 150 SARs from Hunter and James Biden that included “large” amounts of money tagged for further review by the Treasury. SARs “often contain evidence of potential criminal activities, such as money laundering and fraud,” according to a 2020 Senate report.
The suspicious records will provide details about how the family business operates and desired transparency on Hunter, James, and Frank’s foreign business transactions, along with knowledge of whether Joe Biden remains compromised by foreign governments through his family’s business.
On January 11, House Oversight Committee Chair James Comer (R-KY) demanded the Treasury turn over the suspicious bank records, but the Treasury had denied Comer’s request citing “improper disclosure” of relevant information that could reduce the Biden administration’s ability to “conduct of law enforcement, intelligence, and national security activities.”
The Treasury’s compliance comes after the committee’s probe has so far met resistance from Hunter Biden and from some of his associates, such as Serbian politician Vuk Jeremić and Hunter’s art dealer.
While the probe has met resistance, the committee has found a few key individuals willing to comply. The Biden family’s former top financial lieutenant Eric Schwerin is expected to “soon” provide requested documents to the committee. Schwerin, who shared bank accounts with Joe Biden and was dubbed the family’s “moneyman,” was also the president of Rosemont Seneca Partners, a fund created by Hunter Biden and several associates that spawned business deals in Russia, Ukraine, China, and Romania.