(Luis Cornelio, Headline USA) President Joe Biden’s brother, James Biden, reportedly received a $600,000 loan from Americore with the promise of securing Middle Eastern funding for the now-bankrupt healthcare company, Fox News reported Monday.
Carol Fox, a Chapter 11 trustee for Americore, revealed to the House Oversight Committee that James Biden’s commitment to bring in future funding never materialized, giving insight into the ties between the company and Joe Biden’s scrutinized brother.
Fox told congressional investigators, who are leading an impeachment inquiry into Joe Biden, that James Biden obtained the loan without any documented agreement in exchange for future financial support.
According to Fox News, a lawsuit filed by Fox accused James Biden of making “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.”
The lawsuit sought the repayment of the $600,000 loan to Americore, but ultimately resulted in a settlement agreement of $350,000, according to the National Review.
This revealing testimony came amid allegations of Joe Biden and his siblings participating in an alleged illegal influence-peddling scheme.
House Oversight Committee Chairman James Comer, R-Ky., raised concerns regarding a $200,000 check received by Joe Biden from James Biden.
This check, dated March 1, 2018, coincided with the day James Biden acquired a $200,000 personal loan from Americore.
“Does Joe have docs proving he leant such a large amount to his brother, and what were the terms? And did he know that the same day James wrote him a check, James had just received a loan from Americore?” Comer asked in a video unveiling the discovery of the check.
Fox told investigators that she wasn’t aware of the $200,000 payment to Joe Biden but warned about the substantial amount. She also said she has not seen evidence showing the president was involved into any of James Biden’s businesses.
The Biden family largely disregarded the payment, with Paul Fishman, an attorney for James Biden, dismissing the revelations as misleading.
“The Oversight Committee’s description of the $200,000 check is highly selective and misleading,” Fishman contested. “The Committee has the bank documents that show both the loan Jim received from his brother in January 2018 and the repayment by check six weeks later. At no time did Jim involve his brother in any of his business relationships.”
