President Joe Biden’s brother, James Biden, told business partners that his last name could “open doors” and promised he could obtain a significant investment from the Middle East, bankruptcy court filings from July 2022 show.
James Biden indicated to Americore Health, a defunct healthcare company, that the Biden name and his political connections could potentially enable the company to receive a large investment from the Middle East, according to a complaint filed by a Chapter 11 trustee of the company in U.S. bankruptcy court for the Eastern District of Kentucky. (RELATED: Joe Biden Received $200,000 From James Biden Through Healthcare Firm, New House Oversight Evidence Shows)
READ THE COMPLAINT:
“By information and belief, Defendant procured the $600,000.00 in loans from Americore Health (the ‘Loans’) based upon 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 document reads.
James Biden received $610,000 from Americore across three cash disbursements laid out in the complaint. He received a $400,000 loan payment and another $200,000 loan payment, with an additional $10,000 for consulting and marketing services, according to the documents.
On March 1, 2018, Americore sent him $200,000, which he proceeded to send to his brother, Joe Biden, who was out of office at the time, the House Oversight Committee revealed Friday.
James Biden wrote on his check to his brother that it was for a “loan repayment,” according to a partially redacted image of the check released by the Oversight Committee.
🚨 BREAKING 🚨
— Oversight Committee (@GOPoversight) October 20, 2023
The bankruptcy filing was revealed by House Oversight Committee Chairman James Comer in a video he released describing the $200,000 payment James Biden sent to Joe Biden. A former Americore executive previously told Politico James Biden introduced the founder of the company to Joe Biden and promised to leverage his political connections to secure a Middle East investment. (RELATED: Here’s All The Evidence Connecting Joe Biden To Hunter Biden’s Foreign Business Dealings)
Comer subpoenaed Hunter and James Biden’s personal and business bank records in September after the first impeachment inquiry hearing into Joe Biden. The Oversight Committee is in the process of reviewing the bank records and more information will be released at a later date, Comer said in the video.
James Biden was a business partner of Hunter Biden and received payments from Chinese business associates through Rob Walker, Hunter Biden’s former business partner, according to bank records released in March by the Oversight Committee.
He also participated in Hudson West III, a business venture Hunter Biden launched with a Chinese business associate, according to House Oversight. Hudson West III brought in $3.7 million for all the parties involved, IRS whistleblower Joseph Ziegler testified in July. (RELATED: ‘On Behalf Of The Family’: Hunter Biden’s Uncle Thanked Lawyer Who Allegedly Paid $2 Million Of Hunter’s Taxes)
“Debtors even provided Defendant with business cards reflecting his position as a ‘Principal’ with Americore Health to assist his financing efforts. A redacted copy of the Defendant’s business card is attached as Exhibit B. As a result, Defendant became a fiduciary to Americore Health,” the complaint continues. The business card is visible at the bottom of the complaint.
James Biden’s promises of an investment from the Middle East failed to materialize and he never paid back the apparent $600,000 worth of loans from Americore health, the complaint states. (RELATED: Hunter Biden Portrayed Chinese Business Associate As ‘Protégé’ Of Xi Jinping, IRS Memo Shows)
“Instead, of complying with his fiduciary responsibilities, Defendant helped Debtors procure an ill-advised bridge loan from a hedge fund that had a deleterious impact on the financial affairs of the Debtor and ultimately forced Debtors into bankruptcy, as he never delivered the promised the large investment from the Middle East,” the document reads.
“And worse, Defendant never repaid the Loans to Americore Health, including during the time that Debtors were strapped for cash,” the complaint details. “Despite Trustee’s demand, Defendant has still failed and refused to return the Transfers to the Trustee.”
In September 2022, James Biden agreed to pay $350,000 to settle the Americore trustee’s lawsuit, the Wall Street Journal (WSJ) reported. The trustee had taken control of the defunct firm in February 2020 to recover funds and pay its debts.
“Jim had a vision of revitalizing failing rural hospitals,” Biden’s lawyer told the WSJ. “He provided extensive financial and consulting services to Americore.”
The Biden family and its business associates received $24 million from Ukraine, Russia, China, Romania and Kazakhstan, according to a House memo circulated prior to the first impeachment inquiry hearing. Comer said during the hearing that the figure came from suspicious activity reports sent by banks to the Treasury Department.
This is a complete lie
There was no “Middle-East related transaction”
Joe Biden loaned his brother some money. His brother paid it back a few weeks later.
Comer and @GOPoversight know this yet they shamelessly smear anyway
Anything to distract from their own Speakerless chaos pic.twitter.com/fub23feC5z
— Ian Sams (@IanSams46) October 20, 2023
“Joe Biden loaned his brother some money. His brother paid it back a few weeks later,” White House spokesman Ian Sams said on Twitter. “Comer and @GOPoversight know this yet they shamelessly smear anyway Anything to distract from their own Speakerless chaos.”