WASHINGTON — His eldest son, James Biden, said in testimony in the impeachment inquiry that a $40,000 check written to former Vice President Joe Biden in 2017 was received by James from a Chinese government-linked company. While admitting that the funds had been spent, Mr James also revealed that until recently he had been earning money overseas. Year.
Mr. James, 74, insisted he did not believe the company, CEFC China Energy, was controlled by the Chinese government and that he “just misspoke” when he spoke to the IRS. In an interview in 2022 His eldest son, Hunter Biden, who was partnered with his uncle, reportedly referred to CEFC Chairman Ye Jianming as a “disciple” of Chinese President Xi Jinping.
“Where did you believe the money came from?” [Hunter Biden’s company] Where did Owasco come from before it was sent to you? ” investigators asked James during a Feb. 21 interview.
“CEFC,” James admitted — after an extended exchange in which his eldest brother’s lawyer, Paul Fishman, tried to argue that “money is fungible,” a House staffer told James that he had no idea how to make “CEFC” a reality. “We didn’t have enough funds,” he said. He allegedly repaid the $40,000 loan himself and is “traceable.”
In this interview, it was revealed that James Biden received $840,000 from Argentine businessman Jose Luis Manzano in four transfers between November 2022 and July 2023. , the eldest son said, the amount was due to the sale of half of Manzano’s stake in Argentine natural gas company Metrogas.
“It was mainly about fairness in dealing with him regarding other business ventures,” James told investigators, adding that Manzano solicited Mexican billionaire Carlos Slim to invest in Argentina’s 4G. He said he asked them to do so, but was unsuccessful.
James also confirmed that Manzano had “talked” about working with CEFC at one point.
The first brother revealed other international business efforts that he said were in vain, and the financially troubled rural hospital company Amecor to repay funds from another alleged loan to Joe Biden in 2018. “I was looking for an investment,” he said, when he took out a $200,000 loan. From Qatar again for infrastructure projects. They were building a hotel in Miami. ”
Democrats have defended the alleged loan repayments as proof that Joe Biden is nothing more than a supportive brother. But Republicans argue it is clear the president repeatedly interacted with and benefited from his relatives’ business dealings, including in the CEFC business.
According to subpoenaed bank records, James Biden’s bank account to which the $40,000 check to Joe Biden was wired remained unbalanced until it received a $50,000 infusion days earlier, on August 28, 2017. was only $46.88.
Officials said the $50,000 was money withdrawn from James’ business, Lion Hall Group, which received a $150,000 wire from Owasco on Aug. 14 (the balance at the time was less than $2,000). It is said that they were received on the same day. bank record memo The House Oversight Committee made the announcement in November.
The Biden family’s relationship with CEFC has been one of the most lucrative yet controversial, with Ye making headlines in the international market with his own company in 2018 amid corruption allegations in China. It ended with him disappearing. Although the company described itself as private, it was widely considered to be part of the Chinese government. “One Belt, One Road” foreign influence initiative.
Mr. James testified that he scouted natural gas investments for CEFC along the Gulf Coast, but major proposals fell through. However, James and Hunter Biden still made millions of dollars from the partnership.
The first brother said he was repaying a personal loan to Joe when James’ wife Sarah Biden wrote a $40,000 check to the future president on September 3, 2017. . He had no loan documents or interest, she said.
Republicans have pointed out that the initial money transfer to James several weeks ago came from a law firm that worked with several Biden family members and business associates. They claim that it is clouding the situation.
Joe Biden reportedly interacted with multiple CEFC business partners.
Rob Walker, a former business partner of the Biden family, revealed on January 26 that shortly after Joe Biden met with Ye at the Four Seasons Hotel in Washington, D.C., he received $3 million in funding from CEFC in March 2017. He testified that about one-third of the money went to the Biden family.
Hunter Biden testified Wednesday that he could not remember the date in question.
Walker said the money, sent weeks after Joe Biden left office as vice president, was a “thank you” for preliminary services to procure business opportunities in a relationship that began in 2015.
A May 2017 email written by Biden family associate James Gillier asked “big man” Joe Biden for a 10% interest in a proposed joint venture with CEFC. was.
According to records provided to Congress by IRS case officer Joseph Ziegler, the future president later told a China-based official in July 2017, “Sit here with my father.” He was summoned by his son with a threatening text message warning him, “I’m here.” – Identified a Democratic lawmaker who claimed his team was repeatedly blocked from pursuing leads about President Biden.
Within 10 days of the message, $5.1 million flowed into accounts associated with Hunter and James Biden, according to information in a 2020 report by a Republican-led Senate committee.
