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 November 7, 2023

Joe Biden refuses to share details about loans with his brother

President Joe Biden is refusing to share details about loans with his brother Jim Biden with the House Oversight Committee.

The dispute involves $240,000 in checks from his brother that he claims were repayments for past loans.

The committee speaks

“The White House today made clear to us that President Biden is refusing to hand over loan documents for any ‘loans’ he provided to his brother, James Biden,” the committee posted Friday on X.

“We’ve exposed nearly a quarter of a million of dollars that James Biden sent to Joe Biden as ‘loan repayments’ that were funded by laundered China money and influence peddling schemes,” it added. “Is this what ‘the most transparent administration in history’ is supposed to look like?”

A Chinese connection

"Before becoming president, Joe Biden received a $40,000 check marked as a 'loan repayment' from his brother's account, but the money may have come from a Chinese company, according to evidence released Wednesday by House Oversight and Accountability Committee Chair James Comer, R-Ky," Just the News reported.

"The money trail began when first son Hunter Biden demanded in July 2017 that Raymond Zhao, an associate linked to the Chinese Communist Party and the now-bankrupt CEFC China Energy, pay him $10 million, according to Comer," it continued.

The $200k check documentation

“If Joe Biden did personally loan James Biden an amount that was later repaid by the $200,000 check, please provide the loan documents, including the loan payment, loan agreement, and any other supporting loan documentation," Comer wrote.

"As you may know, the Internal Revenue Code has specific requirements for delineating and reporting ‘below-market [rate] loans” from gifts. While there are some exceptions, for example loans of $10,000 or less, the payment in question would not appear exempt from such requirements if it is a loan," he explained.

The two payments add to the mystery of many allegations regarding bribery involving the Biden family during the president's years as vice president under then-President Barack Obama.

Many are now calling for the committee to subpoena his brother to explain the payments after the president's refusal to do so.

The matter could further complicate the president's path to winning a second term in the White House as the evidence continues to grow in the concerning investigation.

Written By:
Dillon Burroughs

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