Joe Biden may have lent James Biden money to justify ‘loan’ repayments, bank records show
Bank Records Suggest President Joe Biden May Have Paid His Brother $240,000
Startling bank records have emerged, indicating that President Joe Biden may have made payments totaling $240,000 to his brother, James Biden. What’s even more intriguing is that these payments were made in two separate installments, each just weeks before James Biden wrote his brother a check for the exact same amounts.
The records, obtained by the Washington Examiner, provide support for the White House’s claim that the checks James Biden wrote to Joe Biden in 2017 and 2018 were intended to repay loans.
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Republicans on the committee initially raised concerns that these checks could be evidence of Joe Biden personally profiting from his family’s private business dealings, something he vehemently denies. However, it turns out that James Biden had received similar amounts from businesses he was involved with just before writing the checks to his brother.
However, the House Oversight Committee now possesses a pair of wire transfers that suggest Joe Biden, through an account controlled by his attorneys, was actually owed the money that James Biden sent him.
These wire transfers were sent to James Biden through an account controlled by Joe Biden’s attorneys at the prestigious law firm Monzack, Mersky, McLaughlin, and Browder.
The first wire transfer, amounting to $40,000, was made on July 28, 2017, from the account controlled by Joe Biden’s attorneys. James Biden promptly repaid the exact amount to Joe Biden on September 3, 2017, just 37 days later. The check used for repayment clearly stated “loan repayment,” and interestingly, it was deposited by the same law firm into the same bank account from which the original payment came.
The second wire transfer, this time for $200,000, was also sent to James Biden’s bank account. Two months later, James Biden sent Joe Biden a check for the same amount, which was deposited into a separate bank account.
“Comer has repeatedly denied the existence of bank records in his possession that show Joe Biden loaned money to his brother,” a senior House Democratic aide said. “This is further proof that Comer’s impeachment inquiry is based on cherry-picked facts and outright lies in order to exact political retribution on behalf of Donald Trump.”
However, an Oversight Committee aide challenges the claim that the wire transfers prove the money was a loan, pointing out that the law firm associated with the original payments represents several members of the Biden family, including James Biden’s JBSSR Inc., Hunter Biden’s Owasco LLC, Joe Biden’s CelticCapri, and Biden family associate Rob Walker’s Robinson Walker, LLC. The aide questions whether the law firm used a more generic account to mask the true identity of client transactions.
Just weeks before James Biden wrote the $40,000 check labeled as a “loan repayment” in 2017, a Chinese company working with the Biden family had paid Hunter Biden a staggering $400,000. Hunter Biden then transferred a portion of that sum to James Biden, whose wife ultimately wrote the check to Joe Biden.
In 2018, a struggling healthcare company wired James Biden $200,000 on the same day he wrote a check for the same amount to his brother. The company later admitted that it had incorrectly classified the money as a loan to James Biden.
“Contrary to the White House’s and Ranking Member [Jamie] Raskin’s claims, nothing within the Oversight Committee’s possession clearly shows that Joe Biden did indeed loan his brother large sums of money,” a spokesperson for the House Oversight Committee stated. “The White House and Democrats have peddled a false narrative instead of providing the loan documents. The inescapable reality for Joe Biden is that whether the $240,000 were loan repayments or not, it clearly came from funds generated by his family’s influence peddling and proves one of the ways he personally benefited from this unethical conduct.”
House Oversight Chair James Comer (R-KY) had previously argued that the payments from James Biden to Joe Biden were significant regardless of whether a loan was involved.
For decades, critics have accused James Biden of leveraging his powerful family name to secure lucrative business deals both domestically and internationally. Similarly, Joe Biden’s son, Hunter Biden, has faced intense scrutiny for his foreign business partnerships while his father served as vice president.
Click here to read more from the Washington Examiner.
How should accusations of improper financial dealings within political families be approached and investigated?
Es.
While these bank records provide some insight into the financial transactions between Joe Biden and his brother, they do not conclusively prove that the payments were loans. It is possible that the wire transfers were made for other reasons, such as business transactions or personal expenses. Without further evidence or clarification from the parties involved, it is difficult to ascertain the true nature of these transactions.
It is worth noting that accusations of improper financial dealings within political families are not uncommon. In recent years, there have been similar allegations made against other politicians and their relatives. However, it is essential to approach these claims with caution and thoroughly investigate the evidence before jumping to conclusions.
The timing of these payments does raise some eyebrows, as they were made just weeks before James Biden wrote checks to his brother for the exact same amounts. It is understandable why some Republicans initially raised concerns about potential personal profit from family business dealings. However, the subsequent discovery of James Biden receiving similar amounts from other businesses he was involved with suggests that these transactions may have been part of legitimate business operations.
It is crucial for the House Oversight Committee to thoroughly examine these bank records and conduct a comprehensive investigation to determine the true nature of these payments. The committee must ensure that any potential conflicts of interest, financial improprieties, or violations of ethical standards are thoroughly examined and addressed.
Regardless of the outcome of this investigation, it is crucial for politicians to maintain transparency regarding their financial affairs. Clear and open communication can help alleviate concerns and prevent the spread of baseless accusations. It is in everyone’s best interest to uphold the highest standards of integrity and accountability in public service.
As the investigation into these bank records progresses, it remains essential for the public to uphold the principles of fairness and due process. Making hasty judgments or spreading unverified information can lead to further divisions and undermine the democratic process.
Ultimately, the truth behind these bank records will emerge through a thorough and impartial investigation. It is vital for the American public to have confidence in the integrity of their elected officials. Only through rigorous inquiries can we ensure that our political system remains transparent, accountable, and free from corruption.
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