On Thursday, after the GOP revealed a plan to look into a potential connection between President Joe Biden and the alleged finances of his son, Hunter Biden, a $2 billion Saudi deal involving Jared Kushner, Donald Trump’s son-in-law, and former adviser, reappeared.
“I had no clue Hunter Biden was on the ballot. Jared was a WH employee and secured billions from the Saudis. I love the deflection,” user @jeanvas5 tweeted.
“Hunter Biden: Does personal business deals as a private citizen. Jared Kushner: Got a $1 billion loan from the Saudis while working in the WH, and a $2 billion investment from the Saudis months after leaving the WH. GOP wants to investigate one of them. Guess which!” another user tweeted.
After leaving the White House last year, Kushner reportedly accepted a $2 billion investment from the Public Investment Fund run by Saudi Crown Prince Mohammed bin Salman. In June, the House Oversight Committee said that it would look into this transaction.
The New York Times reported that the funds were placed in Kushner’s newly founded private equity company Affinity Partners, using previously unreleased records from the fund’s advisers who expressed reservations about the agreement.
They reportedly fretted about Kushner’s lack of fund management experience, his “unsatisfactory” operations, and his “public relations risks,” among other things, but the crown prince still decided to work with Kushner’s company.
According to the Times, the Saudi fund would receive at least 28 percent ownership in Kushner’s Affinity Partners in return for the investments. The crown prince and Kushner began dating in 2016 when they first crossed paths.
Republicans declared on Thursday that they intended to initiate an inquiry into the possibility of a link between Biden and the alleged activities of his son.
They made their statement following the midterm elections, which saw Republicans win a majority in the House of Representatives.
A bank is required to submit a “suspicious activity report,” or “SAR,” to the Treasury Department if a transaction is “suspected to be related to money laundering or fraud, or other types of criminal activity.”
“According to media reports, the Biden family accumulated over 150 SARs,” Comer said.
“One SAR generated by an American bank to the Treasury Department connects Hunter Biden and his business associates to human trafficking, among other illegal activities,” Comer added.
The purpose of the investigation is to determine whether the president took part in his son’s business dealings.
Unpartisan watchdog Citizens for Ethics tweeted: “Jared Kushner received $2 billion from Saudi Arabia when he departed the White House. Trump’s faltering golf enterprise has been helped by a Saudi-sponsored tournament. The day before Trump declared his intention to run for president, his family business inked a contract with a Saudi company.”
As spokesperson Ian Sams stated to Newsweek on Thursday, “congressional Republicans’ top objective is to go after President Biden with politically driven attacks packed full of long-debunked conspiracy theories.”
The White House Counsel’s Office also slammed the GOP action.