House Oversight Committee chairman Rep. James Comer of Kentucky revealed the explosive information on Friday, Oct. 20, by presenting to the committee a copy of the $200,000 check the president received from his brother.
While not holding any office at the time the payment was received, Comer pointed out that the then-former vice president of the United States was acting as the head of the Biden clan whose name could "open doors" for those seeking to purchase influence. (Related: Hunter Biden received $260,000 from Chinese nationals in 2019 while his dad was running for president.)
James Biden received $600,000 in loans from Americore, a struggling rural hospital operator. According to Comer, James received the loans and provided Americore with a guarantee that the Biden family name could "open doors" and help the struggling company obtain a large investment in the Middle East "based on his political connections."
Of this $600,000 loan, Americore wired $200,000 of it straight to the personal bank account of James and his wife Sara on March 1, 2018. That same day, James wrote a check for $200,000 for the personal bank account of the president, writing "loan repayment" on the check's details.
This is not the first time that the president's brother has been accused of taking out personal loans from friends and business associates. He previously received $500,000 from John Hynansky, a Ukrainian-American businessman and donor to Joe Biden's presidential campaigns. Hynansky's loan to James was provided "as Biden's brother faced financial difficulties related to his acquisition of a multimillion-dollar vacation home."
Comer confirmed that this "raises new questions" about how Biden may have benefited from his family's long history of "shady influence peddling." The president has claimed time and again that he has never been involved in his family's business dealings, even going so far as to dare anybody questioning his integrity to find any evidence of personal financial gain.
This latest information confirms once again that multiple members of Biden's immediate family have used the Biden name to win very profitable deals.
The information was revealed by the House Oversight Committee as it continues to conduct an impeachment inquiry over Biden's involvement in his family's business deals, much of it involving foreign nations like China, Russia and Ukraine. The possible addition of a Middle Eastern nation would add to this growing list.
Comer noted that Biden must now come forward with information regarding his financial relationship with his brother and whether or not he had similar financial arrangements with other members of his family that led them to make similarly large payments.
"Did he know that the same day James Biden wrote him a check for $200,000, James Biden had just received a loan for the exact same amount from business dealings with a company that was in financial distress and failing?" asked Comer.
Learn more about the crimes potentially committed by the president and other members of his family at BidenCrimeFamily.news.
Watch this clip from Newsmax featuring Rep. James Comer discussing what the House Oversight Committee's next steps are following the revelation that the president pocketed $200,000.