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James Biden admits $40K check to brother Joe was paid out of China deal profits

By Mandy Donalds
|
March 2, 2024

James Biden, the younger sibling of President Joe Biden, during recent congressional testimony revealed that he repaid a loan to his brother using funds derived from foreign dealings.

The president's brother specifically highlighted a transaction with a Chinese energy company known to have governmental ties in Beijing.

This information emerged from a closed-door deposition with the House Oversight and Judiciary Committees.

The panels were diving deep into potential connections between the Biden family's international business ventures and the president himself, as the Daily Mail reported.

Over $20 million in foreign transactions are currently under scrutiny, with allegations suggesting that the Biden surname may have been leveraged to secure lucrative deals abroad.

Testimony Revelations

During his extensive testimony, James Biden admitted to making significant payments to his brother.

The disbursements were classified as "loan repayments," including one notable $40,000 payment financed through dealings with the Chinese energy conglomerate CEFC.

These payments are part of a broader investigation into whether these financial interactions indicated a more profound, potentially compromising relationship with foreign entities.

James insisted that these were straightforward family loans, lacking formal documentation or interest, which he attributed to the familial bond rather than any business arrangement.

Contradictions and Clarifications

Amid these financial disclosures, James Biden also addressed allegations regarding Joe Biden's direct involvement with his and Hunter Biden's Chinese business partners.

Contrary to claims made by Hunter Biden's former associate and evidence suggested by communications found on Hunter's laptop, James maintained that his brother had never met with high-ranking Chinese businessmen or attended meetings with CEFC officials.

This stance starkly contrasts with previous accusations and revelations.

The conflicting accounts add layers of complexity to the ongoing inquiry into the Biden family's foreign dealings.

 The Biden Family and Foreign Business Deals

Further complicating the narrative, James Biden delved into his motivations for engaging with CEFC.

He said his actions were driven by assurances from Hunter Biden that the company was not affiliated with the Chinese government.

Despite these reassurances and a lucrative role that netted him over $1 million, the revelations have cast a shadow over the Biden family's financial integrity.

The questions that remain are especially thorny considering Hunter Biden's acknowledged substance abuse issues and the varied personal anecdotes shared about the family dynamics.