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Democrat Congressman Vicente Gonzalez Reports Thousands in Questionable Interest Income from Bank of China Account

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Like the Democrat sleazeball Eric Swalwell, who suffered not a whit for banging a Chinese spy, on the contrary, he was richly rewarded with key appointments by Pelosi, Gonzalez will be protected by the Democrat criminal syndicate.

Democrat Congressman Vicente Gonzalez Reports Thousands in Questionable Interest Income from Bank of China Account

By: Mathew Boyle, Breitbart, march 9, 2021:

Democrat Rep. Vicente Gonzalez (D-TX) has on his three most recent financial disclosure forms filed with the clerk of the U.S. House of Representatives reported holdings worth more than $100,000 in the Bank of China, a state-owned bank run by the Chinese Communist Party.

On the second page of his calendar year 2017, 2018, and 2019 disclosure documents, Gonzalez reported the holdings valued at between $100,001 and $250,000 in the Bank of China. Each report includes a disclosure that Gonzalez earned between $2,501 and $5,000 in interest each year from the Bank of China account.

The congressman has, according to the disclosures, other holdings worth more that paid less in interest. His 2017 report, filed in 2018, for instance revealed he had between $250,001 and $500,000 in an “Everbank” account that he reported collected no interest. His 2018 disclosure report revealed an account with TIAA Bank worth between $250,001 and $500,000 that collected only between $201 and $1,000 in interest. There are others similar to these in all three reports, but the Bank of China holding seems to pay out the best for the congressman according to the financial disclosure forms. On all three reports—2017, 2018, and 2019—no other holding or account paid out as high a level of interest, or unearned income, for the congressman according to these disclosures—meaning his investment in a state-run bank in a nation that is hostile to the United States is particularly lucrative for him.

The arrangement is also beneficial to the Bank of China, and ultimately the Chinese Communist Party, as like with any other bank the deposit the congressman has placed in this account can be used by the Bank of China for other purposes and initiatives like perhaps possibly loans to other enterprises backing Beijing’s vision through things like the Belt and Road Initiative–China’s geopolitical push for global economic domination. What’s more, according to the Bank of China website, there are only three cities in the United States with branches–one in New York, one in Chicago, and one in Los Angeles–meaning that there is no Bank of China branch in Gonzalez’s Texas district.

The financial disclosure documents are reported by members of Congress in ranges in terms of the value of assets and the income earned from them. That means that this Bank of China account that Gonzalez has reported for his last three disclosure reports yields at least 1 percent annual interest—if the actual amount of unearned income, or interest, is at the lower end of the reported range at $2,501 and the actual account value is at the higher end of the reported range at $250,000. But if the inverse were true, that the account value is at the lower end of the reported range at $100,000 and the interest income were at the higher end of the reported range at $5,000 then that means the interest could be as high as close to 5 percent. Either way, between 1 and 5 percent in unearned annual interest income on any holding is unusually high for any account.

More about the account and interest rate is impossible to find out without more documents and cooperation from Gonzalez. Gonzalez’s congressional office has not replied to multiple requests for comment from Breitbart News about his Bank of China account, and has not responded to requests for an interview with the congressman.



Source: https://gellerreport.com/2021/03/democrat-congressman-vicente-gonzalez-reports-thousands-in-questionable-interest-income-from-bank-of-china-account.html/


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