James Biden received $40K and $200K loans from his brother for a Chinese company
OAN’s Sophia Flores
5:50 PM – Friday, March 1, 2024
James Biden, brother of President Joe Biden, confirmed that his older brother gave him a couple of loans that purportedly went to the CCP-linked energy firm CEFC China Energy.
During his impeachment inquiry testimony released by the House Oversight Committee on Friday, the younger Biden admitted that his brother gave him a $200,000 and $40,000 loan in 2017 and in 2018.
James claimed that he needed the money to pay “outstanding bills.” However, he also claims that he used the money to invest in the Chinese energy business. The reason remains unknown.
Subpoenaed bank records revealed that James Biden had a balance of $46.88 in his bank account prior to receiving the first check from his brother. James asserted that he paid back the interest loans without filling out additional documentation, emphasizing that they came from a family member.
“I repaid two loans that I secured from my brother,” James Biden said.
He received the $40,000 wire on July 28th, 2017 and paid back Joe less than two months later on September 3rd. He received the second wire of $200,000 on January 12th 2018, which was repaid to his big brother on March 1st.
When asked where he got the $200,000 to pay back his brother in such a short time span, James said that he received it though his work with Americore, but he refused to state the specific source of the funds.
“It came from money that I earned at Americore,” he said.
While the Biden family’s relationship with CEFC ended in 2018, James, Hunter Biden, and Hunter’s associates made millions-of-dollars through the lucrative deal.
Joe Biden has adamantly denied that he had any involvement in the business deals, however, a May 2017 email sent by James Gilliar, the Biden family’s associate, stated that the president was penciled in as “the big guy.”
The email also revealed that Joe Biden wanted a 10% cut in a proposed joint venture with CEFC.
Within 10 days after the email was sent, Hunter and James Biden received $5.1 million in their accounts. This testimony is a part of House Republicans’ impeachment inquiry into the 46th president.
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What steps should be taken to ensure a thorough and impartial investigation into the financial activities of the Biden family and their potential impact on national security and the integrity of the office of the President
Allegations of corruption surrounding President Joe Biden and his family. The revelation by James Biden that he received loans from his brother, which were potentially used for investment in a Chinese energy company linked to the CCP, adds further fuel to the fire.
The impeachment inquiry testimony released by the House Oversight Committee sheds light on the financial dealings of the Biden family. James Biden admitted to receiving a $200,000 loan in 2017 and a $40,000 loan in 2018 from his older brother. He claimed that the money was needed to pay outstanding bills but also acknowledged using it to invest in the Chinese energy business.
The timing of these loans is questionable. Subpoenaed bank records revealed that James Biden had a balance of only $46.88 in his bank account prior to receiving the first check from his brother. He repaid the loans in a short time span, without filling out additional documentation. James emphasized that the loans were from a family member, implying that they did not require the same level of scrutiny as loans from other sources.
When questioned about the source of the $200,000 used to repay his brother, James Biden claimed it came from his work with Americore but refused to provide specific details. This lack of transparency raises further concerns about the origins and legitimacy of the funds.
The Biden family’s association with the Chinese energy company CEFC became lucrative, with millions of dollars being made through the deal. While Joe Biden has denied any involvement in these business deals, an email sent by James Gilliar, a Biden family associate, referred to the president as “the big guy” and revealed his interest in a 10% cut of a proposed joint venture with CEFC.
Within 10 days of the email being sent, Hunter and James Biden received $5.1 million in their accounts. This revelation raises serious questions about the potential influence and financial gain that the Biden family may have obtained through their connections with foreign entities.
House Republicans’ impeachment inquiry aims to investigate these allegations of corruption and determine the level of involvement and accountability of President Joe Biden and his family. The testimony provided by James Biden highlights the need for a thorough investigation into the financial dealings of the Biden family and their potential connections to foreign entities.
The American people deserve transparency and accountability from their elected officials. It is essential that these allegations are properly investigated and the truth is uncovered. The impeachment inquiry provides an opportunity for a comprehensive examination of the Biden family’s financial activities and their potential impact on national security and the integrity of the office of the President. Only through a thorough and impartial investigation can the American people regain trust and confidence in their government.
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