House Committee on Oversight and Reform Ranking Member James Comer (R-Ky.) today is pressing Hunter Biden’s financial advisor, Edward Prewitt, for information about Hunter Biden and the Biden family’s foreign business deals that have triggered suspicious activity reports (SARs). Prewitt, a former Clinton Administration political appointee, advised Hunter Biden on financial transactions when U.S. banks were flagging suspicious activity by the Biden family. Ranking Member Comer is calling on Prewitt to provide all documents, communications, and information related to SARs connected to Hunter Biden, other Biden family members, and associates.
“Information reviewed by Committee Republicans reveals you were advising Hunter Biden on financial transactions when U.S. banks were flagging suspicious activity by the Biden family. As Hunter Biden’s financial advisor, you are in a unique position to know how these transactions originated and why they were flagged by U.S. banks. As such, we request information regarding Hunter Biden’s financial transactions, including any documents related to SARs,” wrote Ranking Member Comer. “The American people deserve to know the President’s connections to his son’s business deals, which have occurred at the expense of American interests and may represent a national security threat.”
Committee on Oversight and Reform Republicans are investigating the domestic and international business dealings of the Biden family and what role President Biden played in enriching his family. More than 150 transactions from the Bidens’ business dealings have been flagged by U.S. banks through filings of SARs to the Financial Crimes Enforcement Network. Ranking Member Comer has called on U.S. Treasury Secretary Janet Yellen to provide these SARs to Congress, but the Treasury Department has changed longstanding policy and is withholding these SARs from Congress.
“Documents reviewed by Committee Republicans show you and your firm managed the financial accounts of Hunter Biden’s business entities Owasco PC, Owasco LLC, Skaneateles, and Rosemont Seneca Advisors. Your firm was also at least aware of transactions made by Hudson West—another Hunter Biden company—which has been used in transferring millions of dollars to Hunter and James Biden from CEFC, ‘a company that’s effectively an arm of the Chinese Government.’ This raises serious questions about what these transactions were for and whether money was transferred to the Biden family from America’s adversaries,” continued Ranking Member Comer. “Additionally, the records reviewed by Committee Republicans show transactions connected to Hunter Biden’s accounts were flagged by Wells Fargo Corporate Compliance for further scrutiny and you brought this fact to Hunter Biden’s attention in an email. These documents also tie Eric Schwerin—who had access to Joe Biden’s financial accounts—to the same accounts managed by your firm and tied to the Bidens. Schwerin—a longtime business associate of Hunter Biden—had multiple meetings with then-Vice President Joe Biden, Hunter Biden, as well as foreign business associates, according to records in the possession of Committee Republicans. Schwerin’s inclusion in these transactions raises questions about President Biden’s involvement in the management and knowledge of these various entities’ activities.”
The letter to Edward Prewitt can be found here.