(PartiallyPolitics.com) – James Comer, a Republican representative from Kentucky, is urging President Joe Biden to clarify the circumstances surrounding a $200,000 payment he received from his brother, James Biden. Marked as a ‘loan repayment’ on the check, this transaction has raised questions and is part of an ongoing inquiry led by Comer, who chairs the House Committee on Oversight and Accountability. The committee is probing alleged unethical business engagements involving the President and his relatives.
In correspondence sent last Thursday to White House Counsel Edward Siskel, Comer specifically asked for all relevant paperwork concerning the loan, including agreements and proof of appropriate IRS filings. He noted that Internal Revenue Service guidelines require detailed reporting for ‘below-market rate loans,’ and pointed out that this sizable sum of money would presumably fall under such categorization. Significantly, based on the information released by the White House, no interest seems to have been paid on the said ‘loan,’ raising further questions about its legality.
The timing of the check, written on March 1, 2018, coincides with James Biden receiving an identical amount from Americore, a financially distressed company. A press release from the Oversight Committee claims that James Biden used his family name as leverage, promising Americore access to extensive Middle Eastern investments due to his political connections. However, White House spokesperson Ian Sams vehemently denied any such Middle Eastern transaction, insisting that the funds were simply a loan between siblings.
Moreover, the committee disclosed that bank statements show multiple large deposits into the personal accounts of James Biden and his spouse, Sara Biden, but none indicate that Joe Biden himself extended a substantial loan to his brother.
In his concluding remarks, Comer emphasized that irrespective of whether the payment was a loan or not, the transaction reveals potential misuse of familial influence, putting President Biden under scrutiny for potentially benefiting financially from his brother’s exploitation of their shared last name.
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