Joe Biden is refusing to hand over loan documents to the House Oversight Committee proving any ‘loans’ he provided to his brother James Biden.
The House Oversight Committee has no IRS records or loan documents confirming the $200,000 check Jim Biden wrote to his brother Joe Biden in 2018 was a ‘loan repayment.’
House Oversight Chairman James Comer demanded IRS records and applicable loan documents proving Joe Biden loaned his brother James money.
The Bidens often structure their income as ‘loans’ to avoid paying taxes. We saw this with a $5 million wire described as an ‘interest-free loan’ (a way for Hunter to avoid paying taxes) from a Chinese firm. The Bidens then shuffle the dirty money around to each other as ‘loan repayments.’ This is classic tax evasion, money laundering, and influence-peddling.
James Comer recently uncovered a $200,000 direct payment to Joe Biden.
In 2018, Jim Biden received $600,000 in ‘loans’ from Americore Health LLC, a failing/bankrupt rural hospital operator. According to bankruptcy documents, Jim Biden received the loans “based upon representations that his last name Biden could open doors and that he could obtain a large investment from the Middle East based on his political connections.”
On March 1, 2018, Americore Health LLC wired a $200,000 payment to Jim and Sara Biden’s personal bank account. On that very same day, Jim Biden then wrote a $200,000 check to Joe Biden, AKA, “The Big Guy.”
Jim Biden wrote the check to Joe Biden as a so-called “loan repayment.” Does Joe Biden have documents proving he lent his brother such a large sum of money? “What were the terms?” Comer asked.
Last Thursday House Oversight Chairman James Comer demanded Joe Biden provide loan documents (loan payment, loan agreement) and IRS filings regarding the $200,000 “loan repayment” James Biden said he made to Joe “The Big Guy” Biden in 2018.
On Friday night, the Republican-led Oversight Committee said Joe Biden is refusing to provide applicable loan documentation to show he loaned his brother James Biden money.
Per the GOP Oversight Committee:
The White House today made clear to us that President Biden is refusing to hand over loan documents for any “loans” he provided to his brother, James Biden.
We’ve exposed nearly a quarter of a million of dollars that James Biden sent to Joe Biden as “loan repayments” that were funded by laundered China money and influence peddling schemes.
Is this what “the most transparent administration in history” is supposed to look like?
We won’t be stopped by the President’s stonewalling. We’ll continue to follow the money, expose President Biden’s corruption, and deliver accountability.
Friday Night News Dump
The White House today made clear to us that President Biden is refusing to hand over loan documents for any “loans” he provided to his brother, James Biden.
We’ve exposed nearly a quarter of a million of dollars that James Biden sent to Joe Biden as…
— Oversight Committee (@GOPoversight) November 3, 2023
James Comer said there appears to have been no interest paid on the “loan” based upon the White House’s own representations. “The current lack of documentation leaves reason to doubt claims that this transaction was repayment for a legal loan,” Comer wrote in a letter to White House Counsel Edward Siskel.
“Whether it was a loan or not, James Biden’s March 1, 2018, check to Joe Biden demonstrates one way he personally benefited from his family’s shady influence peddling of his name and their access to him. Even if the transaction in question was part of a loan agreement, we are troubled that Joe Biden’s ability to recoup funds depended on his brother’s cashing-in on the Biden brand,” Comer said.
