According to reports, Hunter Biden received a retainer of $1 million as an attorney for a CEFC official, a Chinese energy company. The company also negotiated with the Bidens for a joint venture, in which Joe Biden, referred to as the “Big Guy,” would receive a ten percent equity stake. The payments were to be made to Hudson West III LLC, an entity controlled by James and Hunter Biden.

Yan, a former associate of Hunter Biden, demanded the legal services payment for CEFC and provided wiring instructions to transfer the funds. The wire transfer was processed the next day. However, Yan later questioned Hunter’s lack of transparency concerning additional business expenses and demanded receipts. In retaliation, Hunter threatened Yan with a lawsuit for non-payment. Eventually, Yan signed a document dissolving Hudson West III LLC in November 2018.

Due to Yan’s possession of specific financial information on the Biden family, he is now at the center of a probe initiated by Congressman James Comer. Comer has already subpoenaed Bank of America for all financial records on three Biden family business associates linked to the CEFC China Energy Co. deal, covering a period of 14 years beginning in 2009. In his efforts to gather evidence, Comer has also gained access to Suspicious Activity Reports (SARs) from the U.S. Treasury, which often contain evidence of potential criminal activities, such as fraud and money laundering. The SARs reveal that 13 banks, including Bank of America, were involved in the CEFC China Energy Co. deal.

In March 2021, the committee investigating the Biden family’s financial dealings released a report stating that the family received a collective $1.3 million cut in 2017 from a Biden family business associate. The associate was reportedly sent a $3 million wire transfer from CEFC. While Hunter Biden confirmed the $1.3 million payout, Joe Biden denied it.

Peter Schweizer, a senior contributor for Breitbart and the President of the Government Accountability Institute, published two books, Secret Empires and Profiles in Corruption, that exposed the Biden family’s lucrative foreign deals and cronyism, including how Hunter Biden and Joe Biden flew to China in 2013 before Hunter’s firm inked a $1.5 billion deal with a subsidiary of the Chinese government’s Bank of China less than two weeks after the trip. Breitbart Political Editor Emma-Jo Morris and Miranda Devine also revealed how Joe Biden was intimately involved in Hunter’s businesses, potentially even having a stake in a company he formed with officials at the highest levels of the Chinese Communist Party, through their investigative work on the Hunter Biden “laptop from hell.”