Americore Gave James Biden $600k Loan on Promise He’d Deliver Funding from Middle East, Trustee Says

Carol Fox, an Americore Chapter 11 trustee, told the House Oversight Committee on Monday that the now-bankrupt healthcare company previously provided a $600,000 loan to James Biden on the promise that he could bring in funding from the Middle East that never materialized.

On March 1, 2018, after Americore wired a $200,000 loan to James and Sara Biden’s personal bank account, James Biden sent a payment of the same amount to Joe Biden for an alleged loan repayment.

Fox previously filed a lawsuit against James Biden claiming he made “representations that his last name, ‘Biden,’ could ‘open doors’ and that he could obtain a large investment from the Middle East based on his political connections.”

The suit alleged that Americore sent $600,000 to James and Sara Biden’s personal bank accounts in total and demanded James Biden repay Americore the full amount. James Biden ultimately agreed to a settlement payment of $350,000.

Fox told the committee in a transcribed interview on Monday that she saw no records or documentation of the loan from Americore to James Biden and that the company instead chose to provide a loan with no documentation based on the promise that James Biden could bring in funding from the Middle East, a person familiar with the committee’s investigation into the Biden family’s business dealings told National Review.

Fox said the money James Biden ultimately paid to his brother could have come from two possible sources: predatory loans or senior citizens’ money fraudulently invested by James Biden’s business partner, Michael Lewitt.

In September, the Securities and Exchange Commission filed a complaint against Lewitt and his investment advisory firm, Third Friday Management. The complaint claims misrepresentations and omissions regarding a change in the investment strategy of the Third Friday Total Return Fund, L.P. to suddenly change course “without disclosing to investors, many of whom were elderly, that it had begun making loans to a distressed (now bankrupt) company that acquired and operated struggling rural hospitals.”

In the lawsuit, Fox previously alleged James Biden had helped procure “an ill-advised bridge loan from a hedge fund that had a deleterious impact on the financial affairs of the Debtor and ultimately forced Debtors into bankruptcy, as [James Biden] never delivered the promised large investment from the Middle East.” 

Fox said she had not seen the $200,000 check from James Biden to Joe Biden until her transcribed interview on Monday. She said in her experience, she would try to claw back amounts from a subsequent transferee depending on the dollar amount. She said she considers $200,000 to be a significant sum of money.

James Biden’s attorney previously dismissed Republican lawmakers’ interest in the payment.

“The Oversight Committee’s description of the $200,000 check is highly selective and misleading,” attorney Paul Fishman said. “The Committee has the bank documents that show both the loan Jim received from his brother in January 2018 and the repayment by check six weeks later. At no time did Jim involve his brother in any of his business relationships.”

The committee also previously obtained bank records showing a complicated series of money transfers that ultimately resulted in President Biden receiving $40,000 that originated with a Chinese company affiliated with CEFC China Energy.

In that case, Biden received a $40,000 personal check from an account shared by his brother, James Biden, and sister-in-law, Sara Biden, in September 2017 — money marked as a “loan repayment.” The alleged repayment was sent after funds filtered from Northern International Capital, a Chinese company affiliated with CEFC, through several accounts related to Hunter Biden and eventually down to the personal account shared by James and Sara Biden.

The committee says the series of payments establish a direct benefit Biden received from his family’s business dealings, despite Biden’s claims that he has not been involved.

“It all began with a shakedown in the summer of 2017, when Hunter Biden sent a message to his CEFC associate demanding a $10 million capital payment,” Comer explained in a video posted to X. “As Hunter Biden extorted this associate, Hunter claimed he was sitting with his father and that the Biden network would turn on his associate if he didn’t pony up the money. The extortion scheme worked.”

“Remember when Joe Biden told the American people that his son didn’t make money in China?” Comer continued. “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.”

When Joe Biden was vice president, the Bidens began working with CEFC, a Chinese energy company linked to the CCP. Later, in 2017, Hunter Biden sent a WhatsApp message to CEFC associate Raymond Zhao on July 30 of that year demanding a $10 million payment.

“I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled. I am very concerned that the Chairman has either changed his mind and broken our deal without telling me or that he is unaware of the promises and assurances that have been made have not been kept,” the message read.

“And Z if I get a call or text from anyone involved in this other than you, Zhang, or the Chairman, I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction,” he added.