The House Oversight Committee revealed this week that President Joe Biden has refused to provide any information about two alleged loan agreements he made with his brother James Biden totaling $240,000.
According to the committee, Biden’s refusal to disclose any evidence supporting past White House claims that the $240,000 in checks were simply “loan repayments” indicates this administration is not being as transparent as Biden pledged.
Upon taking office, Biden stated his administration would be the most transparent in history. But the committee says he is now stonewalling their inquiry by refusing to hand over any loan documents related to the $240,000 James Biden sent him in the form of supposed “loan repayments.”
Specifically, the committee disclosed that in 2017, James Biden and his wife sent Joe Biden $40,000 that was laundered money from a Chinese energy company, falsely labeled as a loan repayment.
Additionally, in October 2022, the committee revealed Joe Biden had also received a $200,000 personal check from James Biden in 2018, again marked as a loan repayment.
This is the second known instance of President Biden accepting sizable personal checks from his brother James, who has been a key family business associate involved in various Biden enterprises over the years.
The committee claims the accumulating evidence indicates one of the biggest political scandals in US history. Yet despite the seriousness of the allegations, the Biden administration continues stonewalling the inquiry at every turn rather than providing transparency.
Critics argue Biden’s lack of cooperation and refusal to provide records related to the alleged $240,000 in loans from his brother cast doubt on his pledge for his administration to be historically transparent.
It raises questions about what exactly the payments were for and whether Biden is attempting to hide financial dealings with his family to avoid political scandal.
Biden’s reluctance to disclose details around the $240,000 in mystery payments from James will likely increase suspicions from those arguing the administration is failing on transparency and ethical standards.
Without documentation being provided, it remains unclear whether the checks were truly just innocent loans, or represented potential influence peddling or political favors related to Biden’s position as vice president at the time.
The House Oversight Committee probe into Biden’s financial ties with his brother remains ongoing as Republicans vow to leverage their new House majority power to intensify investigations into Biden family finances.