New Report Reveals Deeper Business Connections Between Jim Biden and Qatar
The summary of the article reveals new information about Jim Biden’s alleged business connections with the Qatari government. Testimony from fund manager Michael Lewitt suggests that two companies, Platinum Group USA and Obermeyer Engineering Consulting, owned by Qatari government members, were involved in funding Jim Biden’s healthcare ventures in the US. This sheds light on previously undisclosed financial ties between Jim Biden and Qatar.
A new report detailed new information about the alleged business ties between Jim Biden, brother to President Joe Biden, and the Qatari government.
According to recent testimony obtained by Politico in a Kentucky bankruptcy court from fund manager Michael Lewitt, a former business partner of Jim Biden’s, two companies, the Platinum Group USA and Obermeyer Engineering Consulting, involved with Jim Biden’s efforts to find money for U.S. healthcare ventures were part-owned by “members of the Qatari government.” If true, these alleged arrangements would be the closest ties financially between a relative of the president and a foreign government.
The first company named during Lewitt’s testimony directly partnered with Jim Biden for his efforts in fundraising. The second company “provided financial backing for a series of loans that a hospital chain paid Jim Biden to arrange.”
Jim Biden allegedly courted money from Qatari sources for ventures in the United States, a few months after Biden left the vice presidency in the Obama administration. Public records and emails indicate Jim Biden searched for a way to work around restrictions for moving money internationally, according to the outlet.
In February, Jim Biden implied to congressional investigators he stopped his efforts “for lack of viable projects to back.” Lewitt’s testimony suggests that Jim Biden’s ties to the Qatari government are deeper than previously known. Lewitt is scheduled for a planned interview with House impeachment inquiry investigators, but a date has not been set.
When Jim Biden began recruiting fundraising for his healthcare business, where he worked closely with Americore, Qatar was in a time of diplomatic unease. In 2017, neighboring nations cut their diplomatic ties with the Middle Eastern country due to its alleged support of terrorism. Because of that, Qatar began strengthening its ties to the US and countries in Europe.
Jim Biden teamed up with Platinum Group’s CEO Amer Rustom, who had ties to the Middle East and Lewitt. Then, Jim Biden and Rustom wrote a draft letter to the Qatar Investment Authority, the country’s sovereign wealth fund, boasting about his family’s connections.
“My family could provide a wealth of introductions and business opportunities at the highest levels that I believe would be worthy of the interest of His Excellency,” and, “On behalf of the Biden family, I welcome your interest here.”
In 2018, fundraising efforts began gaining more traction as Sara Biden, Jim’s wife, got in contact with a Platinum Group executive, Julie Lander, in an email with a draft presentation to a potential investor.
“I am following up from the meeting we had with the Minister,” wrote Lander. “Your approach with him was flawless. He requested more information on Americore.”
In the presentation, she said Americore was looking for “$30 million in financing to acquire hospitals” She also described Jim Biden as “Brother and Campaign Finance Chair of former Vice President Joe Biden.”
Lewitt’s investment fund, Third Friday, made a series of loans to Americore to keep the company alive until the $30 million arrived.
Americore’s fundraising efforts hit roadblocks, however, as legal troubles amounted to moving investments over country borders. Jim Biden said Rustom and Lewitt “are waiting on World Bank approval.”
He later expressed frustration with the roadblocks to Rustom.
“The $30 million was committed to over two months ago and we made moves predicated on that available line of credit,” he wrote. ”Things have happened in the interim that are completely understandable, but the fact remains that the $5 million at this point in time is critical in order to get by for the big picture. ”
According to Politico, “Jim Biden and Lewitt traveled to Qatar in mid-2018 as part of the fundraising efforts, but it is not clear whether any meeting between Jim Biden and Qatar’s then-finance minister, Ali Sharif Al Emadi, took place.”
Lewitt expressed confidence that loans to Americore would be repaid soon via funds from Dubai.
“Nothing else changes in terms of what I will be doing re Americore,” Lewitt wrote, “since I will be just as responsible for the Dubai$$$ with the added worry of being driven around the desert….LOL.”
The fundraising efforts have become the target of various legal controversies.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
In 2022, investors from Lewitt’s company sued him, claiming he embezzled their money through Americore to Jim Biden and others. In a federal court in Florida, Third Friday’s loans to Americore were being investigated including other dealings that involved Jim Biden, Lewitt, Rustom and the Platinum Group. Lewitt and the Rustom brothers are also involved in a commercial dispute.
The Washington Examiner reached out to the White House and Jim Biden’s lawyer for comment.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
