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National Review
National Review
2 Mar 2024
James Lynch


NextImg:James Biden Confirms Joe Biden Received Funds Originating from Chinese Firm

Joe Biden’s brother James testified that he sent Joe a $40,000 check with funds originating from Chinese conglomerate CEFC.

James Biden testified in February for the House GOP’s impeachment inquiry into President Biden and admitted the $40,000 check he and his wife Sara wrote his brother in September 2017 used money that came from CEFC, according to a transcript released by the Oversight and Judiciary Committees.

“Where did you believe the source of the money that was going into Owasco, prior to being sent to you, was coming from?” an investigator asked him during a tense exchange about the $40,000 transaction. Owasco was Hunter Biden’s business account and CEFC sent money to both Bidens through the holding company.

“CEFC,” James Biden said.

The string of transactions resulting in the $40,000 check began in August 2017 when Hunter Biden’s Owasco account received a $400,000 payment from Hudson West III, a joint venture CEFC launched with Hunter and James Biden at the time, bank records show. Hudson West III began in August 2017 with a $5 million cash infusion from a Chinese firm and the Bidens agreed to make $165,000 per month combined from the venture.

Hunter Biden wired $150,000 of the funds to the Lion Hall Group, his uncle’s consulting firm. Next, James and Sara Biden sent $50,000 of the money to their personal account, which had a $46.88 balance prior to the deposit. Shortly thereafter, Sara Biden wrote Joe a $40,000 check classified as a loan repayment. The purpose of Hudson West III was to explore potential U.S. energy deals, and the Bidens made millions from the venture despite failing to enter any major deals, James Biden confirmed.

A memo written by IRS investigators in 2022 summarizing an interview with James Biden indicates Hunter Biden touted CEFC Chairman Ye Jianming as a “protege” of Chinese Communist Party Ruler Xi Jinping. James Biden told lawmakers he “misspoke” by doing so and said Jianming was recognized in China for his success. Chinese authorities detained Jianming in 2018 on suspicion of bribery and his whereabouts are unknown.

On March 1st 2018, James Biden wrote his brother a $200,000 check on the same day he received the funds from distressed rural hospital provider Americore. U.S. Trustee Carol Fox’s complaint against James Biden shows the company sent him $200,000 on March 1, 2018, the same day the check was written out. The second check was also classified as a loan repayment.

The supposed loans were sent through Joe Biden’s personal attorney Mel Monzack, however there is no documentation of them, James Biden testified during an exchange with Representative Matt Gaetz (R., Fla.). The short term loans were interest free and helped James Biden pay bills, he claimed.

James Biden began his testimony by denying his brother’s involvement with any of his business dealings such as the Hudson West III venture and Americore. He claimed his brother did not meet business associates including Tony Bobulinski, a business partner who was supposed to be part of a different CEFC venture that fell through.

Bobulinski and Hunter Biden testified Joe Biden met Bobulinski in May 2017 ahead of his speech at the Milken Institute conference held in California. Both Bidens accused Bobulinski of being a bully and a disgrunted former business partner, a characterization he disputed during his testimony. Hunter Biden confirmed his father met his foreign business partners on multiple occasions, but denied that his father had any involvement in his foreign business dealings.

Hunter and James Biden also gave differing accounts about a diamond Hunter Biden received at one point during the CEFC business relationship. Hunter recalled getting the diamond from Jianming in February 2017, but James said he received it earlier in the CEFC relationship from a different CEFC associate.

The younger Biden could not recall a meeting between CEFC associates and Joe Biden held around the time of a $3 million wire to business partner Rob Walker, who testified in January about the 2017 encounter. CEFC paid Walker $3 million through its State Energy HK account and Walker sent roughly $1 million of the money to the Bidens, bank records show.

The testimonies delivered by Hunter and James Biden were major steps in the House GOP’s impeachment inquiry into Joe Biden over his family’s foreign business dealings. House Oversight Committee Chairman James Comer (R., Ky.) said on Wednesday the next phase of the inquiry is public testimony from Hunter Biden.