House Democrats have confirmed that Eric Schwerin, a former business partner of Hunter Biden, was responsible for managing President Joe Biden’s finances during his time as Vice President. This information comes from a spokesperson for the Democratic minority on the House Committee on Oversight and Accountability.
The spokesperson stated, “Notably, Schwerin, who served as then-Vice President Biden’s financial advisor from 2009 to 2017, clarified that he had no knowledge of any financial transactions involving the then-Vice President’s bank account related to the business activities of any Biden family member.”
This statement was made in response to a request for a memo from the White House.
The release of this memo coincides with the White House’s efforts to address an impeachment inquiry into President Biden initiated by House Republicans. The inquiry is focused on allegations of the President’s involvement in his son’s foreign business ventures and whether the Biden family used the former Vice President’s position for personal gain.
The White House responded to these allegations by stating, “Republicans’ own witnesses, such as Eric Schwerin, a former business associate of Hunter Biden, have confirmed that President Biden was not involved in their business dealings.”
They referenced a section from a memo by Oversight Democrats in May, citing a March 2023 interview in which Schwerin stated he was unaware of any involvement by President Biden in the financial affairs of the President’s relatives’ businesses.
However, a spokesperson for the Republican majority on the House Oversight Committee disputed this claim, asserting that the Committee had never interviewed Schwerin. They clarified that there had been a meeting regarding document production but no transcribed interview or deposition.
The Democratic spokesperson countered this by stating that Eric Schwerin was indeed interviewed by committee staff for several hours on March 31, 2023. Schwerin’s attorney confirmed this but noted that while Schwerin assisted the then-Vice President with his finances, he was not technically acting as a “bookkeeper.”
Eric Schwerin’s close association with the Biden family, both personally and professionally, is well-documented. He played a significant role in Hunter Biden’s business endeavors in China. Peter Schweizer, an expert on Hunter’s business dealings, described Schwerin as “the money guy” in Hunter’s business ventures.
Schwerin’s connection to the Biden family goes beyond business, as he visited the Obama White House and Vice President Biden’s residence multiple times between 2009 and 2016. Additionally, he was a founding partner and managing director of Hunter’s now-dissolved firm, Rosemont Seneca Partners.