In the latest twist in the ongoing GOP probe into President Joe Biden’s financial dealings, Republicans claimed on Friday to have unearthed a “bombshell” involving a “direct payment” to the President. The announcement raised expectations of a potential link to Biden’s family’s foreign business transactions, a topic the MAGA wing of the Republican party have been investigating.
However, the touted bombshell turned out to be a dud, as the payment, dating back to March 2018, was revealed to be a $200,000 check from Joe Biden’s brother, James. Contrary to expectations, the check was marked as a “loan repayment,” not originating from a Ukrainian oligarch or a Chinese tycoon, as Republicans had suggested.
House Oversight Committee Chair James Comer, a Republican from Kentucky leading the investigation, expressed skepticism about the transaction, raising questions about the legitimacy of such a large sum being characterized as a loan. Despite obtaining records through a subpoena, Comer remains unconvinced and demands more information about the financial arrangement.
Democrats on the Oversight Committee countered these claims, arguing that the personal bank records actually indicate President Biden provided financial support to his family members, including short-term loans to his brother. They emphasized that the extensive records, comprising 1,400 pages, revealed no evidence of wrongdoing but rather depicted payments for routine expenses like groceries, vet visits, and plumbing repairs.
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Check images and wire transfer records obtained by multiple media outlets support the Democrats’ narrative. The documents suggested that President Biden sent $40,000 in July 2017 and $200,000 in January 2018 to James Biden, who repaid the amounts without interest. While the wire transfer records did not explicitly label the payments as loans, they aligned with the Democrats’ defense.
James Biden’s attorney, Paul Fishman, countered the Oversight Committee’s portrayal of the $200,000 repayment check, asserting that bank documents confirmed the loan from Joe Biden in January 2018 and its subsequent repayment.
Despite the clarification, Comer maintained his suspicion, suggesting that even if it were a personal loan repayment, he found it troubling that Joe Biden’s brother was involved in financial dealings that could benefit his brother, who was not in office at the time of the loan and its subsequent repayment.
On the same day that James Biden repaid his brother, he reportedly received a $200,000 payment from Americore Health, a for-profit hospital chain. The company claimed it had loaned James Biden $600,000 based on the belief that his last name could open doors and secure Middle Eastern investments. However, the promised investment never materialized, and the loans remained unpaid.
Despite ethical concerns about the Biden brothers leveraging their family name, there is no direct evidence of illegal or corrupt activities. Republicans have focused their inquiries on allegations related to Joe Biden’s actions as vice president, particularly regarding Ukraine, but State Department officials have testified to the lack of evidence supporting these claims.
The White House responded to the latest revelations by suggesting that Republicans should focus on choosing a House speaker instead of targeting the president’s family members, emphasizing the absence of evidence of wrongdoing by President Biden.
“After rummaging through thousands of pages of a private citizen’s bank records, they have again turned up zero evidence of wrongdoing by President Biden — and that’s because there is none,” White House spokesperson Ian Sams said.
