"Where is the money?" This was President Joe Biden's response to a journalist who asked him about the ongoing investigations by the House Oversight Committee into his family's shady business dealings and the possibility that the president had benefited financially.
In an interview this Thursday, Rep. Jim Jordan, chairman of the House Judiciary Committee, said: "Where is the money? It looks like it's in Joe Biden's accounts." As the investigations progress, President Biden's challenging question appears to have an answer.
Was 10% of the money going to President Biden's account?
This week, House Oversight Committee Chairman James Comer released video and bank records revealing that Biden received $40,000 in laundered money from China. The money came to the president in the form of a personal check from his brother James Biden and sister-in-law Sara Biden.
"That's what we call money laundering in the banking business," Comer said in an interview, trying to explain the scheme. All of these business dealings started when Biden was vice president. Comer explains that the House Oversight Committee has WhatsApp messages from IRS employees in which Hunter Biden claims that his father was sitting next to him while he tried to get his Chinese partner from CEFC, a company linked to the Chinese Communist Party, into paying him $10 million, threatening him with the loyalty of the Biden family network.
Five days after that text message, $5,000,000 went into an account at a company set up by Hunter and one of his partners, which is when the money laundering process begins, Comer claims. Some $400,000 went to Hunter Biden's shell company. Then, through a series of transfers, $40,000 ended up in Joe Biden's account.
"$40,000 just happens to be 10% of $400,000, which if you go back to the laptop (Hunter's laptop) this particular deal was the deal Joe Biden was supposed to be involved in, and he was supposed to have a 10% ownership stake in," Comer said.
Representative Jordan also stated that when you look at all of this, As Hunter Biden's partner Devin Archer said, "the brand was Joe Biden." Jordan continued: "The 20 different companies, the multiple family members getting paid, how this money is routed through all these various entities. It sure starts to look funny."
This new finding by the committee comes in addition to the direct payment of $200,000 that Joe Biden also received from James and Sara Biden, which was made public at the end of October. In 2018, James Biden received $600,000 in loans from Americore, a financially distressed and bankrupt rural hospital operator. "According to bankruptcy court documents, James Biden received these loans based upon representations that his last name Biden, could open doors," Comer stated.
"On March 1, 2018, Americore wired a $200,000 loan into James and Sara Biden’s personal bank account, not their business bank account ... And then, on the very same day, James Biden wrote a $200,000 check from this same personal bank account to Joe Biden," the chairman of the House Oversight Committee revealed a few weeks ago.
The questions that the House Oversight Committee will have to resolve
This new finding is further proof that President Biden did receive money from his family's businesses. The House Oversight Committee will have to advance its investigations to clarify whether the president was aware of the business his family did using the surname "Biden" as a brand, as stated by Devin Archer, partner of Hunter Biden. The investigation also aims to discover if then Vice President Biden actively participated in these business dealings, providing benefits in exchange for millions of dollars.
Representative Comer has said that even assuming that President Biden had no knowledge of this entire corruption scheme, and that this truly involved payments of alleged personal loans made by President Biden to his family, "It’s still troubling that Joe Biden’s ability to be paid back by his brother depended on the success of his family’s shady financial dealings."
