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A witness in the impeachment investigation voiced to the House Oversight Committee that there is no documented evidence of the tasks carried out against a loan received by James Biden, a brother of the president, before a substantial payment was forwarded to his brother.
This information comes from a report by Just the News, derived from the transcript of the testimony. Carol Fox, a leading character in the matter, declared she ‘was not able to discern the role [he] occupied or locate any paperwork validating the loans issued to him by the financially distressed company back in 2018.’
Fox further detailed to the committee that Biden supposedly provided advisory services via his business, Lion Hall, to the involved company. However, during her financial review, it remained unclear as to the specifics of these services or Biden’s capacity within Americore, in spite of his identification as a ‘Principal’ on his business card.
When pressed by investigators about James Biden’s actual involvement in Americore, Fox’s answer was plain, ‘I don’t believe we truly know.’ She went on to explain her knowledge was limited to what his business card claimed, further stating, ‘The extent of his responsibilities during his tenure with the company, that occurred before my interaction with the company.’ She continued, admitting to the existence of a business card which outlined his stated role, but fell short of establishing what his daily duties were, stating, ‘I do not know.’
Moving the timeline to July 2022, in the role of trustee for the bankruptcy estate, Fox moved forward with legal action against James Biden due to his failure to settle the $600,000 in loans. The lawsuit also addressed the lack of clarity around the services he purportedly provided.
When Fox was questioned on whether it was fair to say that she wasn’t able to uncover any services provided by James to Americore, her reply was a bare admission, ‘That was the reason I sued him, yes…I did not believe that he rendered services to the debtors.’ This was a remarkable finding in Fox’s financial investigation.
Interestingly, Fox’s intensive financial probe could not unearth any tangible documentation that could back up the ‘consulting & marketing’ services that Americore paid James Biden a total of $10,000 for, apart from the loan amount. As reported by the outlet, ‘The volume of paperwork for the consulting and marketing contract equates to that of the loans — none,’ Fox disclosed to the committee.
It wasn’t just a matter of the missing documentation of the services James Biden purportedly offered to Americore; Fox’s probing also failed to unearth any recorded evidence of the loans the company supposedly dispatched to him. All this despite the existence of bank records which painted a picture of the transfers being definitely conducted.
During Fox’s scrutinization, a $400,000 wire transfer marked as a ‘loan’ to Biden’s bank account was discovered. However, there were no accompanying formal promissory notes or official loan documentation. Beyond this, Fox was unable to locate paperwork demonstrating the security for the loan or a motivation behind issuing it.
In the course of the inquiry, investigators probed further, ‘Were there any contracts or promissory notes or anything documenting the loan?’ To this, Fox responded, ‘No. There was one thing that indicated ‘loan,’ and that’s why it was classified as a loan, due to the exhibits associated with this complaint [the lawsuit against James Biden].’
Later, Fox was questioned, ‘Do you have knowledge of any paperwork elucidating what the loan was possibly secured by?’ Fox did not mince words and was upfront with her answer, ‘I didn’t locate any paperwork supporting that.’
She was further asked, ‘Did you come across any documentation where James Biden gave the reason for wanting to secure this loan from Americore?’ Fox’s response was a succinct ‘No.’
The Oversight Committee had initially traced several loans to James, with Americore being the origin. It’s the committee’s claim that a portion of these funds was utilized to facilitate a payment to his brother, Joe Biden.
In total, the committee discovered $600,000 in loans from the healthcare company Americore, which operated in rural hospitals, directed to James. A related observation was regarding the transfer of a specific loan amounting to $200,000 to James Biden’s personal bank account by Americore.
Notably, on the same day the transfer occurred, he processed a payment of a similar amount to his brother, categorizing it as a loan repayment. The committee suggests that despite Americore’s precarious financial situation, this transfer from the company aided the eventual payment to Joe Biden.
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Evidentiary Gaps in Transactions Between Americore and James Biden Sparks Inquiry appeared first on Real News Now.
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