James Biden: China Repays President $40K

March 1, 2024 TruthUSA

James Biden testified last week that he reimbursed his brother, President Joe Biden, with $40,000 in funds that came from China, according to a transcript released by House Republicans on Friday.

James Biden made the revelation on Feb. 21 in a closed-door deposition in front of members of the House Oversight and Judiciary committees.

The admission is an important piece of the impeachment inquiry into the president because it connects him as a beneficiary to the alleged influence-peddling schemes being run by James Biden and Hunter Biden. Republicans have said the fact the money was labeled as a loan repayment is irrelevant.

Further, Republicans have been waiting months to get a firsthand accounting of the $40,000 that Sara Biden, James Biden’s wife, paid to Joe Biden from her husband’s checking account on Sept. 3, 2017.

The question from a House investigator during James Biden’s deposition: “Where did you believe the source of the money that was going into Owasco, prior to being sent to you, was coming from?”

James Biden: “CEFC.”

CEFC is a now-defunct Chinese Energy company with links to the Chinese Communist Party, although the Bidens insist it was independent of Beijing.

A transcript of Hunter Biden’s congressional testimony Wednesday showed him getting irate when asked whether he was aware that a portion of the $5.1 million wired to him from a CEFC official ended up in a bank account of his father’s, conflicting with the president’s claim that he never benefited from his family’s business dealings.

“This is the most ridiculous thing that — I mean, so far. Are you saying to me, do I understand the fungibility of dollars?” Hunter Biden said. “You’re acting as if there’s, like, a dollar here that somehow was traced all the way down to here to repay a loan that you guys say that my father made to him.”

Hunter Biden admitted to writing a WhatsApp message that Republicans claim was an attempt to shake down a foreign business client with his demand for a $5.1 million payment in July 2017 as his father was seated next to him. He said he was “high or drunk” when he sent the text he now regrets.

Still, House Republicans claim CEFC affiliate Northern International Capital wired $5 million days later to Hudson West III, a Hunter Biden shell company he owned with CEFC agent Gongwen Dong.

From that $5 million, Biden testified, he sent $150,000 days later to a company called Lion Hall Group, an entity owned by James and Sara Biden, who withdrew $50,000 in cash at the end of August 2017. From there came the $40,000 check to Joe Biden titled, “loan repayment” dated Sept. 3.

House Republicans have shown that James and Sara Biden had a balance of $46.88 before withdrawing the $50,000, making the payment “traceable.”

House Oversight Committee Chair James Comer, R-Ky., has been saying for months that the shell games played by the Bidens — loan repayments etc. — add up to the same thing: Joe Biden was on the receiving end of more than $250,000, fruit derived “directly from his family’s influence-peddling scheme.”

Of that, $240,000 came from James Biden as repayment of loans, for “outstanding bills that I had,” James Biden testified, adding there was no loan paperwork and no interest paid.

“[Joe Biden] got paid back from China. So it doesn’t matter whether all this money we’re showing that’s going into Joe Biden’s back pocket was a loan or not, which it wasn’t. He got paid back from the influence-peddling scheme,” Comer told Newsmax in December.

Hunter Biden testified, after a combative back-and-forth Wednesday, that his father met CEFC Chair Ye Jianming at a Washington, D.C., restaurant. However, Hunter Biden said he didn’t remember the occasion.

Ye has been in detention in China since March 2018 on charges of bribery.