At a press conference on Thursday, Republican Representatives Jim Jordan and James Comer claimed that President Biden had been actively involved in international business dealings.
Comer, noting whistleblowers, announced that the Biden family "flourished and became millionaires by simply offering access to the family."
"Was Joe Biden directly involved with Hunter Biden's business deals, and is he compromised? That's our investigation," Comer declared.
Jordan is slated to take over as chair of the Judiciary Committee soon, and Comer will serve as the new chair of the House Oversight Committee.
The representatives claimed that Joe and Hunter Biden engaged in "waste, fraud, and abuse" in their dealings with foreign companies.
On Thursday, the Republicans published a report outlining their conclusions.
The Republicans claim to have found evidence of crimes such as money laundering, tax evasion, wire fraud, conspiracy to defraud the United States, and violations of the Foreign Agents Registration Act.
Comer claimed during the press conference that California Rep. Adam Schiff is to blame for the Oversight Committee's recent decline in credibility.
The committee promised on Thursday to keep the media and general public informed of its specific findings.