Saturday, October 21, 2023
Joe Biden Paid $200K Out Of Loan From Brother’s Company Accused Of Fraud
New bank records show the president received money from his brother the same day he received a large personal loan from his struggling health care company.
According to bank records obtained by the House Committee on Oversight and Accountability, President Joe Biden received a check for $200,000 from his brother James Biden on March 1, 2018 — the same day James Biden’s health care company, Americore, wired a loan of the same amount into the personal bank account of James and his wife Sara.
In January 2020, the FBI raided the home of Americore’s CEO Grant White and a rural hospital in Pennsylvania that the company was operating. After the company declared bankruptcy, a filing from a federal trustee accused White of “improperly siphon[ing] money from the Debtors for his personal benefit.” James Biden, who had business cards listing him as a “principal” at Americore, and two business partners promised to deliver as much as $30 million in investment money to the company that never materialized, according to White.
Further, a lawsuit alleging fraud against James Biden and his business partners, notes that James Biden heavily touted his brother’s political connections as a reason he could obtain money from foreign investors. According to the lawsuit from Tennessee businessman Michael Frey and his partner Dr. Mohannad Azzam, they took out loans to invest in Americore with the assurance that they would be paid back when Biden helped secure investments from Dogan Holding — one of Turkey’s largest conglomerates.
White also affirms that James Biden was trading on his brother’s political connections. “[Biden told me] there’s not a single door in the country that we can’t open. So if I wanted to meet, you know, the head of Google, it’s a phone call,” he told The Federalist in 2020. “He always represented himself as the fundraiser for his brother’s campaigns… he was the guy raising the money and so he knew everybody.”
Despite the fact that Americore was having cash flow issues, White told The Federalist Biden pushed the company to improperly divert $650,000 from the company to him in the form of...
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Friday, October 20, 2023
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