In a bombshell update to the ongoing investigation into the Biden family’s business dealings, House Oversight Committee Chairman James Comer has demanded the White House provide documentation clarifying the nature of a $200,000 payment from James Biden to Joe Biden in 2018. The payment, made in the form of a personal check labeled as a “loan repayment,” has raised questions about potential financial impropriety.
The White House initially defended the payment, stating that Joe Biden had loaned his brother his own money when he needed it and that there was a record of repayment. However, Comer has requested documentation to support this claim, including loan documents, loan payment records, and any other supporting loan documentation.
Comer also highlighted that the Internal Revenue Code has specific requirements for reporting below-market loans, and if the payment is indeed a loan, there appears to have been no interest paid on it. This lack of documentation raises doubts about the transaction and whether it was a legal loan.
The investigation into the Biden family’s business dealings has been ongoing since January, with Comer leading the charge. He has been looking into whether President Biden was involved in these ventures or personally benefited from them. Comer revealed last week that James Biden had received $600,000 in loans from a financially distressed rural hospital operator, based on representations that his last name could open doors and secure investments.
Comer alleges that on March 1, 2018, James Biden received a $200,000 loan from Americore, which he then transferred to Joe Biden on the same day. The White House has dismissed the investigation as a “self-debunking wild goose chase,” asserting that President Biden did nothing wrong.
Throughout the investigation, the House Oversight Committee has uncovered significant payments made to Biden family members and their associates from individuals and companies in China, Russia, Ukraine, Kazakhstan, and Romania. These payments, totaling over $24 million between 2014 and 2019, were allegedly made in exchange for leveraging Joe Biden’s name as a brand.
The investigation led by Comer, alongside House Judiciary Committee Chairman Jim Jordan and House Ways and Means Committee Chairman Jason Smith, is part of the House impeachment inquiry against Biden. While no evidence of wrongdoing by President Biden has been found thus far, the committee continues to scrutinize the financial activities of the Biden family.
As the investigation progresses, more information is expected to come to light regarding the nature of the $200,000 payment and its implications for the Biden family’s business dealings. The House Oversight Committee’s demand for documentation underscores the need for transparency and accountability in government affairs.
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