Representative James Comer (R-KY), who is the chairman of the House Oversight Committee, discovered this week that Joe Biden had yet again obtained $40,000 in funneled CEFC China Energy Co. funds in 2017 from the accounts of James Biden, his brother as well as Sara Biden who is his sister-in-law. The money came in the form of a personal check that was marked as a “loan repayment.”
In two separate incidents, Joe Biden directly took a suspicious personal check coming from his brother James, who had been involved in the family’s business dealings in other countries. At least nine times, Joe Biden has said that he had nothing to do with Biden family businesses.
The finding backs up what Republicans said they thought about the Biden business: it hurt Joe Biden. It also gives the impeachment investigation into the president more weight.
On July 30, 2017, Hunter Biden asked Raymond Zhao, who works for CEFC China Energy Co., to pay him $10 million. This was the start of the $40,000 money trail. There were strong links between CEFC and the Chinese Communist Party. During his tenure as vice president, the Bidens established a collaborative partnership with CEFC.
“The plan to get money worked,” Comer stated in a statement. “Hunter Biden wrote a message to his CEFC colleague in the summer of 2017 requesting a $10 million capital contribution, and that was the beginning of it all.”
“By taking money sourced to a company with ties to the CCP that wanted to promote China’s interests, Biden essentially opened himself up to possible future blackmail as well as put his own greed for money ahead of the country’s interests,” said Comer, a former financial institutions board member.
Comer earlier said that Joe Biden got a $200,000 check from James Biden in the year 2018, which was also marked as a loan. Comer thinks the $200,000 payment is odd because it was handled by Americore, a company that was having financial problems and lent $600,000 to James Biden. The White House along with James Biden say the check wasn’t given because of a business connection that already existed. It was James Biden’s claim that the money had been a payment for the cash Joe Biden loaned him.
Comer stated, “Like the payment made to Joe from Americore funds, it’s very likely that this payment in which James and Sara utilized funds from China was in fact a loan payback to Joe. That $40,000 check, however, could just be James Biden paying back a loan. It nevertheless demonstrates how Joe’s family made money off of his name, with money coming from China.”
James Biden was subpoenaed, which led to the discovery of payments made to Joe Biden. Additionally, Comer said, “The House Oversight Committee will keep tracking the money and will ultimately hold President Biden responsible for his corruption.”