Thursday, March 21, 2024

No Sign of $40K Loan from Joe Biden to Brother James, First Family’s Moneyman Says — Undercutting White House Story; Testimony From Biden Bookkeeper Eric Schwerin Challenges James Biden’s ‘Loan Repayment’ Coverup

No sign of $40K loan from Joe Biden to brother James, first family’s moneyman says — undercutting White House story:
Hunter Biden business associate Eric Schwerin never noted a purported $40,000 loan from President Biden to his younger brother James — despite having access to the now-president’s checking and corporate accounts as his bookkeeper and tax preparer, a congressional interview transcript released Monday shows.
Schwerin, 54, said during the Jan. 30 deposition with House impeachment investigators that “I don’t recall” Joe Biden having loaned out any money between 2009 and 2016, during which Schwerin helped the then-vice president prepare tax and financial disclosure forms.
“Certainly through the 2016 tax period, I don’t recall any loans that he made,” said Schwerin, who added that he “potentially” did not see any loans Biden made in 2017, when Schwerin was “still was helping [Biden] with his household finances … as he was becoming a private citizen.”
James Biden and his wife Sara wrote a $40,000 check to Joe on Sept. 3, 2017, after James and Hunter received $5.1 million from Chinese-state linked energy firm CEFC, the first brother confirmed to the House committees in a Feb. 21 deposition. The check was marked as a “loan repayment” from a July 28, 2017, wire.
Schwerin noted in his interview that he had “some access” to Biden’s corporate account post-vice presidency, which he gave up “towards the end of 2017 when I stopped this role with him”
James Biden also wrote a “loan repayment” check for $200,000 to Joe Biden on March 1, 2018. That same day, the same amount in the form of a loan was wired to James from now-defunct rural hospital chain Americore, for which he had been seeking Qatari investors.
James Biden told the House committees that there was no documents memorializing either “loan” and he was not charged interest by his brother. The second wire of $200,000 to James Biden came on Jan. 12, 2018.
At the time the “loan repayments” were first revealed in November, White House Counsel’s office spokesman Ian Sams said: “The President, when he was a private citizen, loaned his brother money, and his brother promptly paid him back. [Oversight Committee] Chairman [James] Comer [R-Ky.] is concealing those records as part of his politically-motivated effort to attack the President with baseless lies.”
James Biden further claimed that he had requested the money from Joe’s account to pay for “outstanding bills” through the Wilmington, Del.-based law firm Monzack Mersky and Browder — and did not know if the money came from the now-president’s personal bank account or Joe Biden’s so-called “S-corporation” CelticCapri, which has received money for his speaking and writing engagements. --->READ MORE HERE
Image Credit: White House/Flickr
Testimony From Biden Bookkeeper Eric Schwerin Challenges James Biden’s ‘Loan Repayment’ Coverup:
Hunter Biden’s former business manager, Eric Schwerin, spent years pouring over Vice President Joe Biden’s finances, but, contrary to James Biden’s claims to House investigators last month, Schwerin never saw a dime of the patriarch’s money get loaned out to his brother.
In a sitdown with House investigators this month documented in a 164-page transcript, Schwerin explained that he assumed an informal role as former Vice President Joe Biden’s bookkeeper, often dealing with the head of the First Family’s Biden’s finances in “tax season and financial disclosure statement time” all the way through 2017.
Despite maintaining years-long easy access to Biden’s monies, Schwerin said he never saw any indication that Biden handed out loans to anyone.
When asked specifically about loans to Biden’s younger brother, Schwerin said he did not “recall” seeing any outgoing transaction to James and Sarah Biden’s bank account. Schwerin’s admission calls into question James’ contradictory testimony last month, in which he claimed the $40,000 CEFC check he sent Joe in 2017 and the $20,000 Americore cash he passed on to his elder brother in 2018 amounted to personal loan repayments.
Despite dropping by the White House at least 30 times for what Schwerin claimed were mostly visits about bills, Hunter’s business associate was not paid for his services. Instead, Schwerin insisted he “looked at it as doing a favor for a friend.” --->READ MORE HERE
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