The White House’s defense of the $200,000 payment Joe Biden received from his brother James Biden is not supported by the House Oversight Committee’s bank records.
Rep. James Comer (R-KY), Chairman of the House Oversight Committee, sent a letter to White House Counsel Edward Siskel requesting financial documents to support the White House’s claim that James Biden was using the $200,000 check to repay a loan from Joe Biden.
Comer stated in the letter that the bank records do not indicate that Joe Biden gave his brother a sizable loan that required repayment.
“The White House has claimed Joe Biden loaned James Biden $200,000, and this check was repayment. Records obtained by the Committee do show numerous large incoming transactions into the personal account of James and Sara Biden from various entities. Some of these transaction records may have obscured the identity of the true payer, but no records in the Committee’s possession state that Joe Biden made a large loan payment to his brother,” Comer’s letter said.
Friday, Ian Sams, a spokesperson for the White House, stated on Twitter that James Biden’s $200,000 payment was a loan repayment. An image of the check sent by James Biden claims the payment is a loan repayment, as revealed by the Oversight Committee.
Jamie Comer is pretty desperate to try to distract from Republicans’ speaker mess.
It’s a loan repayment from when President Biden loaned his brother money. When he was out of office in 2018, no less. It’s right there on the check!
Matt Gaetz was right:
More “Failure Theater!” pic.twitter.com/Do0DopiX8r
— Ian Sams (@IanSams46) October 20, 2023
“If Joe Biden did personally loan James Biden an amount that was later repaid by the $200,000 check, please provide the loan documents, including the loan payment, loan agreement, and any other supporting loan documentation,” Comer’s letter stipulates, however.
In addition, he emphasizes the IRS reporting requirements for loans sent as gifts and the apparent absence of interest payments by James Biden on the alleged loan.
“The current lack of documentation leaves reason to doubt claims that this transaction was repayment for a legal loan,” he said. “We request documentation clarifying the nature of this payment and whether all applicable documentation and IRS filings were properly made.”
According to the Oversight Committee, James Biden sent Joe Biden $200,000 in March 2018 on the same day that insolvent healthcare company Americore transmitted $200,000 to James Biden.
Bankruptcy court documents show that Americore loaned James Biden $600,000 based on his indications that the Biden name could “open doors” and his assurance that he could secure a Middle East investment by leveraging political connections.
After the initial impeachment inquiry hearing, the Oversight Committee subpoenaed Hunter and James Biden’s personal and business bank records in late September.
(From Becker News - READ ORIGINAL)