president Joe Biden received $40,000 from his brother’s wife shortly after a chinese The company sent money to the Biden family, according to bank documents released Wednesday by the House Oversight Committee.
The payment is the second piece of direct evidence suggesting Joe Biden benefited from his brother and son’s business despite years of denials.
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James Biden had worked with Joe Biden’s son, Hunter Biden, in a business deal with Chinese energy conglomerate CEFC, forming a partnership that netted them and their partners millions of dollars. Sara Biden, the wife of James Biden, appeared to write the $40,000 check to Joe Biden, which she described as loan repayment, shortly after receiving an influx of funds from CEFC in August 2017.
Members of the Biden family and their associates planned to enter into a joint venture with CEFC in the months after Joe Biden left the vice presidency.
Hunter Biden and James Biden, along with former partners Rob Walker and James Gilliar, would together own 50% of the new company. Ye Jianming, the chairman of CEFC, would own the other half of the company. Tony Bobulinski, another former business partner of the group, was to serve as the company’s CEO.
Gilliar proposed that Hunter Biden earmark an additional 10% stake for “the big one” in a now-infamous email from May 2017.
But the company, SinoHawk Holdings, never came to fruition. Instead, Hunter Biden pressured CEFC executives to send money directly to his holding company.
Through various entities, CEFC paid Hunter Biden the family’s share of his earnings from the Chinese partnership. Hunter Biden would use one of his companies, Owasco, to send James Biden his cut.
During a interview Last year with investigators, James Biden acknowledged that Hunter Biden through Owasco paid him for his work by CEFC and not directly by CEFC.
New bank records show that a company linked to CEFC sent $5 million to an entity owned in part by Hunter Biden and in part by a CEFC executive on August 8, 2017. On the same day, it appears Hunter Biden transferred $400,000 to his Owasco account. .
Less than a week later, he sent $150,000 of that money to James and Sara Biden’s business account, according to bank records.
On August 28, 2017, Sara Biden transferred $50,000 from the business she shared with her husband to her personal account, which at the time had a balance of less than $50. And on September 3, 2017, he wrote the $40,000 check to Joe Biden from the personal account.
At no time did any of the Biden family accounts have enough money to make this series of transactions without the Chinese financing, the Oversight Committee noted in its memo on bank records.
Witnesses have described Joe Biden’s involvement in his family’s work with the Chinese company.
Bobulinski told FBI agents in 2020 interview who met with Joe Biden in early May 2017 in California, where he said the two briefly discussed the joint venture proposal that never materialized. James Biden later told Bobulinski that the group should conduct business in ways that would allow Joe Biden to maintain “plausible deniability,” including leaving Joe Biden’s name out of any written communications, Bobulinski told the ‘FBI.
Walker he said the FBI that the group had discussed the possibility of Joe Biden taking a stake in its Chinese joint venture if Joe Biden had decided not to run for president in 2020.
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Bank records released last month of the Oversight Committee showed that James Biden paid his brother $200,000 in March 2018 on the same day he received the same amount from a private business partnership.
This payment was also characterized as repayment of the loan, although the chairman of the House Oversight Committee James Comer (R-KY) has asked the White House to provide evidence that Joe Biden is owed money from his brother.
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