The House Oversight Committee has uncovered no records or documents from the Internal Revenue Service (IRS) to confirm that Jim Biden’s $200,000 check to his brother Joe Biden in 2018 was a ‘loan repayment.’
In response, Chairman James Comer is now demanding evidence from the IRS and any applicable loan documents which prove Joe Biden lent money to his brother.
Previous financial activity conducted by the Bidens suggests they often structure their income as ‘loans’ in order to avoid paying taxes.
This was seen with a $5 million wire described as an ‘interest-free loan’ from a Chinese firm, which enabled Hunter Biden to evade taxation. Subsequently, this money was transferred between them as ‘loan repayments.’
If true, this would constitute tax evasion, money laundering, and influence-peddling offenses.
Last Friday Comer discovered a $200,000 payment made directly to Joe Biden. Documents revealed that Jim and Sara Biden received $600,000 in loans from Americore Health LLC – a struggling hospital operator – based on representations that they could secure investment from the Middle East due to political connections related to their last name of “Biden”.
On March 1st 2018 Americore Health wired $200k into Jim and Sara’s bank account; then on the same day Jim wrote a check for the full amount out to Joe labelled “The Big Guy”.
Jim Biden wrote the check claiming it was “loan repayment” but it remains unclear if Joe has records confirming he lent such an amount of money or what terms were agreed upon.
To answer these questions Chairman Comer is actively requesting documentation proving such transactions took place.
House Oversight Chairman James Comer on Thursday issued a demand for Joe Biden to provide documents related to the $200,000 “loan repayment” that James Biden said he had made to his brother.
In a letter addressed to White House Counsel Edward Siskel, Comer noted that there appears to have been no interest paid on the loan.
He expressed concern that if it was indeed a loan agreement, then Joe Biden had personally benefited from his family’s use of the Biden name and connection with him.
Comer stated further that whether or not the transaction was part of a legal agreement, doubts remain regarding James Biden’s influence peddling and its effects on Joe.
House Oversight chairman @RepJamesComer is playing hardball. This afternoon he asked the White House to provide evidence to back their claim that the $200,000 check to Joe Biden from his brother Jim Biden was repayment of a “loan”.
“The current lack of documentation leaves reason… pic.twitter.com/CbVJgfxsF6— Miranda Devine (@mirandadevine) October 26, 2023
Comer told Sean Hannity that more “suspicious checks” from Jim Biden to Joe Biden will be released soon.
“Stay tuned,” Comer said.
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In qualifying a first time home buyer, a lender must show that the buyer has minimal liquid assets (cash or other assets such as stocks, precious metals, etc that can be simply converted to cash) at the close of escrow in compliance with government and lender down-payment regulations. Lending regulations mandated drawn up by lenders are reviewed, of are supposed to be reviewed, by federal examiners who are responsible for insuring sound practices when lenders are lending other people’s assets. Consequently, if a borrower is given funds to meet the financial qualifications, the giver is required to execute a document stating that the funds are given as a gift, NOT AS A LOAN WITH AN EXPECTATION OF REPAYMENT, INTEREST BEARING OR NOT.
I guess the implication is that any public transfer of liquid assets between private parties is presumed to be a loan with the expectation of repayment unless otherwise documented. But the caveat is that customary practices can be used for nefarious purposes. For example, did he a receive firearm from from me as a gift the give me a check for $1,000 to repay a nonexistent loan made on a gentleman’s(?) handshake? If questioned regarding the illegal transfer of a firearm, we can classify it as a temporary loan (is documentation required for lending firearms?). Regarding the $1,000 check, well that was for repayment of a payday loan made on a handshake. Bottom line,, he repaid an imaginary payday loan and I loaned him a gun with no expecting of it ever being returned, all on a gentleman ‘s handshake. Now prove what laws have been broken.
A LOAN???? LM@O!!!!