Quick Hit

James Biden, brother of President Joe Biden, has admitted that the President received $40,000 from China funds in 2017, contradicting previous claims that the Biden family had not profited from China. The funds were allegedly part of a loan repayment from a deal with CEFC China Energy Co., a company linked to the Chinese Communist Party (CCP).

Key Details

• James Biden admitted to the House impeachment inquiry on February 21 that Joe Biden received $40,000 from China funds in 2017.
• The funds were allegedly part of a loan repayment from a deal with CEFC China Energy Co., a company linked to the CCP.
• This admission contradicts Joe Biden's previous claims that his family had not profited from China.

Diving Deeper

The admission by James Biden raises serious questions about the veracity of Joe Biden's previous statements regarding his family's financial dealings with China. "Remember when Joe Biden told the American people that his son didn't make money in China?" House Oversight Committee Chairman James Comer (R-KY) asked. "Well, not only did he lie about his son Hunter making money in China, but it also turns out that $40,000 in laundered China money landed in Joe Biden's bank account in the form of a personal check."

Comer further added, "Even if this $40,000 check was a loan repayment from James Biden, it still shows how Joe benefited from his family cashing in on his name … with money from China no less." This revelation could potentially have significant implications for the ongoing impeachment inquiry into Joe Biden, who has denied involvement in his family's business dealings at least nine times.

Hunter and James Biden are material witnesses in the impeachment inquiry. The House investigation has uncovered a complex network of wire transfers, 20 shell companies, and associates who allegedly helped the Biden business amass at least $24 million from foreign nationals over approximately five years.

The evidence against Joe Biden continues to mount, raising questions about the extent of his involvement in his family's business dealings and the potential implications for his presidency.