A witness interviewed earlier this week by the House Oversight Committee alleged that one of President Joe Biden’s family members and closest confidants bilked her company out of $600,000, a third of which was later forwarded directly to the president himself.
Carol Fox, a trustee for the now-bankrupt hospital operator Americore, told the shocked Capitol Hill committee about her dealings with James Biden, the president’s younger brother who promised to leverage his family name to “open doors” and make “political connections” that could bring in new business for the struggling company.
According to Fox and a lawsuit previously filed by Americore, James Biden was fronted a loan of $600,000 in advance of work he promised to perform connecting Middle Eastern investors with company executives. Those meetings never materialized, Fox claimed, adding in court filings that the Biden brother made “representations that his last name, ‘Biden,’ could ‘open doors’ and that he could obtain a large investment from the Middle East based on his political connections.”
The lawsuit sought to claw back the $600,000 paid to James Biden, though Fox said she couldn’t account for the loan in any company records.
The payments began on March 1st, 2018 with a $200,000 partial payment sent to the bank account of James Biden and his wife Sara. That same day, the couple transferred an equal sum to President Biden’s bank account, marking the transfer as a “loan repayment.”
“Some immediate questions President Biden must answer for the American people: Does he have documents proving he lent such a large sum of money to his brother and what were the terms of such financial arrangement?” House Oversight Committee Chairman James Comer said in October. “Did he have similar financial arrangements with other family members that led them to make similar large payments to him?”
Even if the $200,000 sum was a “a personal loan repayment, it’s still troubling that Joe Biden’s ability to be paid back by his brother depended on the success of his family’s shady financial dealings,” Comer added.
A source who spoke with Fox News said that Fox was unaware that any of her company’s proceeds would be forwarded to President Biden, adding that she was content at the time to receive a $350,000 settlement as part of the lawsuit.
House Republicans have issued a subpoena to James Biden demanding he explain a $40,000 “loan repayment” made to the president several years later and which originated from overseas money earned by Hunter Biden and business associates while representing a company tied to the Chinese communist government. A similar subpoena was issued to Hunter Biden who this week unlawfully defied the request, instead appearing for a press conference where he excoriated Republican congressmen for posting naked photos of him and tarring his reputation. The daughter of President Biden was recently found to owe thousands of dollars in back taxes, another sign of the family’s financial difficulties and at-all-costs approach to profiting off his official positions.