President Joe Biden is at the center of a highly lucrative “blackmail plot” between members of his family and foreign actors – including China – that Republicans accuse.
Chairman James Comer, R-Ky., revealed the existence of a $40,000 direct payment to Joe from 2017 called a “loan repayment,” which he said was “laundered money.” , which can be traced back to the Chinese.
Comer’s Oversight Committee is leading the investigation into the Biden family’s “influence peddling” operation as part of the broader impeachment inquiry into the president.
According to new bank records obtained through recent subpoenas for James and Hunter Biden’s financial records, a trail of money from Chinese oil giant CEFC – one of Hunter’s joint ventures – snaked its way into Joe’s account starting in July 2017.
In August 2017 WhatsApp messages previously published by DailyMail.com, Hunter demanded $10 million from CEFC, claiming his father was “sitting here next to him” during the exchange.
After initially investing $5 million in the joint venture from CEFC on August 8, 2017, a transfer of $400,000 was made to Hunter Biden’s Owasco, PC on the same day. Then on August 14, 2017, $150,000 was transferred directly from Owasco to the bank account of James and Sara Biden – Joe’s sister-in-law.
Then, on September 3, 2017, Sara wrote a check for $40,000 directly to Joe — just six days after she withdrew $50,000 in cash, according to documents obtained.
This is the fourth Bank Records Memorandum the Committee has issued this year to inform members of its ongoing investigation.
Joe Biden has previously stated that Hunter never made money from China, and the White House has maintained that the president never benefited from his family’s business ventures.
Last month, Republicans unveiled a separate $200,000 personal check from James Biden to Joe Biden.
According to bankruptcy court documents obtained by the House Oversight Committee, James Biden took money from his healthcare company Americore and sent it directly to his brother Joe Biden.
The documents show that James Biden received $600,000 in loans from Americore in 2018. James was able to get the loans based on “assurances” 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.
On the same day, James Biden wrote a $200,000 check from his personal account to “Joseph R. Biden” for “loan repayment.” By this time, Joe had already left the office of vice president.
Republicans leading the investigation into the Biden family’s “influence scheme” that is at the heart of their impeachment inquiry into the president say this personal review directly shows that Joe was aware of and involved in his family’s business dealings.
On March 1, 2018, Americore transferred a $200,000 loan to James and Sara Biden’s personal bank account
James Biden wrote a $200,000 check to “Joseph R. Biden” for “loan repayment.”
According to court documents, James made it appear as if he “could receive a large investment from the Middle East because of his political connections.”
A video released Friday by Chairman James Comer, R-Ky., said: “Americore — a distressed company — lent money to James Biden, who then sent it to Joe Biden.”
“Even if it was a personal loan repayment, it is still concerning that Joe Biden’s ability to be repaid by his brother depended on the success of his family’s shady financial dealings,” Comer explains.
White House oversight and investigations spokesman Ian Sams called the information released by Republicans “a theater of failure” and a “shiny object to distract people from their inability to understand the basics of governing.” command”.
“It is no coincidence that they created a new distraction just minutes after another failed speaker vote,” Sams continued.
He continued that there was “no evidence of wrongdoing by President Biden.”
In September, then-Speaker Kevin McCarthy launched the impeachment inquiry under Oversight’s direction.
Republicans say bank records show Biden’s family and associates collected more than $20 million from China, Ukraine, Kazakhstan and Romania.
As part of the Republican Party-led investigation, they spoke with the president’s son Hunter’s former business partner, Devon Archer, who testified that President Biden had actual knowledge of his son’s business dealings and was present on at least 20 calls and several dinners with his business partner .