OAN’s Sophia Flores
5:50 PM – Friday, March 1, 2024
James Biden, brother of President Joe Biden, confirmed that his older brother gave him a couple of loans that purportedly went to the CCP-linked energy firm CEFC China Energy.
During his impeachment inquiry testimony released by the House Oversight Committee on Friday, the younger Biden admitted that his brother gave him a $200,000 and $40,000 loan in 2017 and in 2018.
James claimed that he needed the money to pay “outstanding bills.” However, he also claims that he used the money to invest in the Chinese energy business. The reason remains unknown.
Subpoenaed bank records revealed that James Biden had a balance of $46.88 in his bank account prior to receiving the first check from his brother. James asserted that he paid back the interest loans without filling out additional documentation, emphasizing that they came from a family member.
“I repaid two loans that I secured from my brother,” James Biden said.
He received the $40,000 wire on July 28th, 2017 and paid back Joe less than two months later on September 3rd. He received the second wire of $200,000 on January 12th 2018, which was repaid to his big brother on March 1st.
When asked where he got the $200,000 to pay back his brother in such a short time span, James said that he received it though his work with Americore, but he refused to state the specific source of the funds.
“It came from money that I earned at Americore,” he said.
While the Biden family’s relationship with CEFC ended in 2018, James, Hunter Biden, and Hunter’s associates made millions-of-dollars through the lucrative deal.
Joe Biden has adamantly denied that he had any involvement in the business deals, however, a May 2017 email sent by James Gilliar, the Biden family’s associate, stated that the president was penciled in as “the big guy.”
The email also revealed that Joe Biden wanted a 10% cut in a proposed joint venture with CEFC.
Within 10 days after the email was sent, Hunter and James Biden received $5.1 million in their accounts. This testimony is a part of House Republicans’ impeachment inquiry into the 46th president.
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