Republican questions if James Biden’s $200,000 payment to brother Joe was a personal loan – because there was no interest
Republicans are stepping up their investigation into a $200,000 “loan repayment” check from James Biden to his brother Joe — written as the family used their last names to “cash in” on foreign deals.
Oversight Chairman James Comer — who is leading the impeachment inquiry into Joe — is pressing the White House for more information because he believes the check is the strongest evidence yet that the president was directly involved in his family’s business dealings .
According to bankruptcy court documents, James Biden took the money from his healthcare company Americore and sent it directly to his brother Joe Biden in 2018.
But Comer said based on the White House’s own records, no interest was paid on the loan — which is illegal.
It also suggests the repayment may not have been for a loan after all, he said in a letter obtained by DailyMail.com from Comer to White House counsel on Thursday.
“The current lack of documentation gives reason to doubt claims that this transaction was the repayment of a legal loan,” Comer wrote, demanding documents and IRS records.
Comer said the check is the strongest evidence yet that the president was directly involved in his family’s business dealings
“We are requesting documentation clarifying the nature of this payment and whether all applicable documentation and IRS filings have been properly filed,” he continued.
The documents show that James Biden received $600,000 in loans from Americore in 2018. James was able to receive the loans based on “statements” that his last name, “Biden,” “could open doors.”
On March 1, 2018, Americore transferred a $200,000 loan to James and Sara Biden’s personal bank account.
That same day, James Biden wrote a check for $200,000 to “Joseph R. Biden” from his personal account for “loan repayment.” At that time, Joe had already left the position of vice president.
Republicans leading the investigation into the Biden family’s “influence peddling scheme,” which is at the heart of their impeachment inquiry into the president, say this personal audit directly shows that Joe knew about — and was involved in — the actions of his family.
White House spokesman Ian Sams confirmed last week that the check was indeed for loan repayment.
“It’s a loan repayment from when President Biden lent his brother money. When he was out of office in 2018, no less. It’s right there on the check!’ he wrote on X.
However, Sams downplayed its significance, calling the Republicans’ information a “theater of failure” and a “shiny object to distract people from the fact that they are unable to carry out the basic principles of governing.”
On March 1, 2018, Americore transferred a $200,000 loan to James and Sara Biden’s personal bank account
According to court documents, James made it appear as if “he could get a major investment from the Middle East based on his political connections.”
In a video released Friday by Chairman James Comer, R-Ky., he said that “Americore – a distressed company – lent money to James Biden, who then sent it to Joe Biden.”
“Even if this were a payoff on a personal loan, it is still troubling that Joe Biden’s ability to be repaid by his brother depended on the success of his family’s shady financial dealings,” Comer said.
A spokesperson told DailyMail.com that the committee “recently” received the documents resulting from a September subpoena for Hunter and James’ business and personal banking records.
The court document reviewed by DailyMail.com states: “On March 1, 2018, Americore Health transferred the sum of $200,000.00 to Defendant’s bank account at PNC Bank, located in Philadelphia, Pennsylvania. The documentation evidencing the foregoing transfer prepared by Americore Health refers to the transfer as a “LOAN.”
The release of the check comes weeks after Republicans held their first hearing in the impeachment inquiry into Joe Biden.
In September, then-Chairman Kevin McCarthy launched the impeachment inquiry, led by Oversight.
Republicans say bank records show Biden’s family and associates have raked in more than $20 million from China, Ukraine, Kazakhstan and Romania.
There are also WhatsApp messages Hunter sent to an employee claiming Joe was in the room while they discussed cases, and damning testimony from whistleblowers from the IRS and FBI.
As part of the Republican Party-led investigation, they spoke with the president’s former business partner, Hunter, Devon Archer, who testified that President Biden had actual knowledge of his son’s actions and made at least 20 phone calls and multiple dinners with his son attended. business partners.
James Biden wrote a $200,000 check to ‘Joseph R. Biden’ for a ‘loan repayment’
In addition, Republicans have uncovered more than a dozen shell companies that Hunter and at least a dozen members of the Biden family used to funnel foreign money.
Joe Biden also used several private email addresses from which he sometimes sent, received and forwarded government correspondence, according to emails found on Hunter Biden’s now infamous laptop.
‘Robin Ware’, ‘Robert L. Peters’ and ‘JRB ware’ were three pseudonyms used in emails regarding both official and family matters.
The White House and the president himself have maintained that he was never involved in the business dealings of Hunter or the rest of his family.