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Republican Reps. James Comer and Jim Jordan alleged at a press conference Thursday that President Biden was actively involved in overseas business dealings alongside his son Hunter.

Comer, citing whistleblowers, asserted 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 said.

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Rep. James Comer

Rep. James Comer, R-Ky., speaks during a news conference with members of the GOP Doctors Caucus after a meeting of the House Republican Conference in the U.S. Capitol in Washington, D.C., on Jan. 19, 2022. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

Comer is the incoming chair of the House Oversight Committee and Jordan is expected to soon chair the Judiciary Committee.

The representatives alleged that Hunter Biden and Joe Biden participated in "waste, fraud, and abuse" in international business dealings. 

The Republicans released a report Thursday outlining their findings.

Read the report:

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Hunter Biden laptop authenticated NBC News

The federal investigation into Hunter Biden and his tax affairs has reached a "critical stage," a source told Fox News, as officials are looking into whether to charge President Biden’s son with various tax violations, possible foreign lobbying violations and more. (Randy Holmes via Getty Images)

The Republicans say they have uncovered evidence of conspiracy to defraud the U.S., wire fraud, violation of the Foreign Agents Registration Act, money laundering, tax evasion and other crimes.

During the press conference, Comer said he believed the Oversight Committee has lost much of its credibility in recent years, which he blamed on California Rep. Adam Schiff.

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Jim Jordan

Ranking member of the House Judiciary Committee chairman Rep. Jim Jordan, R-Ohio, speaks during a hearing with Homeland Security Secretary Alejandro Mayorkas on Capitol Hill in Washington, D.C., on, April 28, 2022. (AP Photo/Evan Vucci)

The committee promised Thursday to continue to update the press and public with concrete findings.