- Americore provided James Biden with a $600,000 'loan', without documentation, in exchange for a promise of Middle East funding that never came
- Fox has sued James Biden, claiming that James “made statements that his last name, 'Biden,' could 'open doors'…based on his political connections”
Americore Trustee Carol Fox sat down for an interview with the Oversight Committee on Monday as Republicans continue full steam ahead with their impeachment inquiry, less than a week after the House of Representatives voted to approve it.
The interview is part of Republicans' investigation into whether President Joe Biden profited from his son and brother's business dealings — and was related to their claim that Biden took a $200,000 payment from his brother James received.
Despite not being a public health consultant or medical expert, James Biden was hired by Americore as the healthcare startup trying to build hospitals in rural America when his brother left the vice presidency.
But unfortunately for Americore, James Biden and his connections fell flat. The company imploded in 2019 and filed for bankruptcy amid a pile of lawsuits and a federal investigation into fraud allegations. Americore also accused Jim Biden of defaulting on $600,000 in loans.
Americore Trustee Carol Fox was on hand Monday for an interview with the Oversight Committee as Republicans continue full steam ahead with their impeachment inquiry, a week after a vote in the House of Representatives to approve it
Fox has sued James Biden, claiming that James “made statements that his last name, 'Biden,' could 'open doors' and that he could get a major investment from the Middle East based on his political connections.”
Fox alleged that James Biden helped obtain “an ill-advised bridge loan from a hedge fund that had a damaging impact on the debtor's financial affairs and ultimately forced the debtors into bankruptcy, as (James Biden) never received the promised major investment from the Middle East has delivered. East.
Jim Biden paid Americore back $350,000 last year to settle the lawsuit — even though his lawyers said he played no role in the company's demise and that he received the money for consulting work and not for loans, as the Fox trustee had claimed .
According to a source familiar with the interview, Fox did not identify services James Biden provided to Americore — and that Americore provided a “loan” to James Biden without documentation in exchange for a promise of Middle East financing that never materialized .
Another source with direct knowledge of the interview insisted that Fox said she had no evidence that Jo Biden was involved in his brother's affairs and that she believed the settlement was fair and equitable.
According to bankruptcy court documents, James Biden took money from his healthcare company Americore and sent it directly to his brother Joe Biden.
Despite not being a public health consultant or medical expert, James Biden was hired by Americore as the healthcare startup sought to build hospitals in rural America while his brother was leaving the vice presidency.
The documents show that James Biden received $600,000 in loans from Americore in 2018. James was able to receive the loans based on “representations” 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.
Democrats point to bank records showing that Joe James had borrowed the exact same amount weeks earlier.
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.