In 2017, revelations emerged during a House impeachment inquiry that Joe Biden, the former Vice President, had received a $40,000 check originating from China.
This financial transaction was tied to a business deal involving CEFC China Energy Co., a company with links to the Chinese Communist Party (CCP).
And there it is. https://t.co/WH6mrV0zIo
— Breitbart News (@BreitbartNews) March 3, 2024
James Biden, the brother of Joe Biden, admitted to the House inquiry on February 21, as reported by Breitbart News.
The disclosure raised significant questions about Joe Biden's previous statements regarding his family's financial dealings with China.
Despite James Biden's assertion that the $40,000 represented repayment for a previous loan, Paul Fishman, his lawyer, emphasized the concept of money's fungibility, highlighting the opacity surrounding the Biden family's business operations.
Investigations into the matter revealed discrepancies in James Biden's financial records. It was noted that his bank account did not contain sufficient funds to independently execute the $40,000 loan repayment.
Subpoenaed bank records indicated that James Biden's account balance was approximately $50 before receiving funds from various entities shortly before the transaction.
During his deposition, Hunter Biden, the son of Joe Biden, offered conflicting statements, denying that his father had received any money from the CEFC China deal. However, investigators were able to trace funds used to pay Joe Biden the $40,000 in September 2017.
The House Oversight Committee, chaired by James Comer (R-KY), scrutinized these revelations. Comer highlighted the contradiction between Joe Biden's previous denials of his son's involvement in profit-making ventures in China and the evidence suggesting otherwise.
“Remember when Joe Biden told the American people that his son didn’t make money in China?” House Oversight Committee Chairman James Comer (R-KY) asked on X. “Well, not only did he lie about his son Hunter making money in China, but it also turns out that $40,000 in laundered China money landed in Joe Biden’s bank account in the form of a personal check.”
The discovery that $40,000 in funds from China allegedly ended up in Joe Biden's bank account cast doubt on his assertions.
Moreover, the House investigation uncovered a complex network of financial transactions involving 20 shell companies and associates, facilitating the Biden family's accumulation of at least $24 million from foreign nationals over a span of approximately five years.
Comer underscored the significance of the $40,000 check, even if deemed a loan repayment from James Biden. It highlighted Joe Biden's benefit from his family's business ventures, particularly from funds originating in China.
Despite Joe Biden's repeated denial of involvement in his family's business dealings, the evidence presented during the House inquiry raised serious concerns about the transparency and integrity of the Biden family's financial affairs.
