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James Biden, the brother of the Democratic frontrunner Joe Biden, was just linked to a healthcare firm that was raided by the FBI.
While CNN and the media were quick to cover the nighttime raid of Trump confidant Roger Stone, hardly any media attention has been given to the allegations leveled at James Biden.
James has been accused of transfering funds to himself through the company.
Federal investigators are looking into a $650,000 loan and transfer. They’re also investigating claims that James used his brother Joe as leverage to get the funds.
That leads us to ask… where exactly is the nonstop media coverage on the FBI raid?
No wonder President Trump calls them, “Fake news!”
More details below:
James Biden has been accused of intentionally foraying into healthcare investing, using his brother Joe's name as leverage.
When making promises to potential partners, James said that working with him could open doors to the former vice president.
Politico has more on the FBI raid as well as the federal investigation into James Biden:
The Federal Bureau of Investigation raided a health care business linked to Joe Biden’s brother in late January, seizing boxes of documents.
The raid of an Americore Health hospital represented a deepening of the legal morass surrounding James Biden’s recent venture into health care investing at a time when questions about the business dealings of Joe Biden’s relatives, and their alleged connection to the former vice president’s public service, continue to dog his presidential campaign.
In the weeks since the raid, two small medical firms that did business with James Biden have claimed in civil court proceedings to have obtained evidence that he may have fraudulently transferred funds from Americore “outside of the ordinary course of business,” and a former Americore executive has told POLITICO that James Biden had more than half a million dollars transferred to him from the firm as a personal loan that has not yet been repaid.
The purpose of the Jan. 30 raid of an Ellwood City, Pa., hospital remains unclear, and there is no indication it was related to the actions of Biden’s younger brother, who has not been accused of criminal wrongdoing. Its owner, Americore, has faced legal problems and allegations of mismanagement that are unrelated to James Biden.
But recent filings in ongoing legal proceedings, along with new accounts provided to POLITICO by former executives of Americore and others, point to potential pitfalls for the former vice president, painting the fullest picture to date of James Biden’s health care dealings and the ways in which they allegedly related to his older brother. In 2017 and 2018, James Biden was embarking on a foray into health care investing, telling potential partners, including at Americore, that his last name could open doors and that Joe Biden was excited about the public policy implications of their business models, according to court filings and interviews with James' former business contacts.
Tom Pritchard, a former Americore executive familiar with the business' finances, told POLITICO that James Biden’s arrival exacerbated Americore’s financial problems. Holding out the promise of a large investment from the Middle East based on his political connections, James Biden introduced Americore’s founder to his older brother and helped land a bridge loan to Americore from a hedge fund, Pritchard said. But then, Pritchard said, James Biden received a six-figure personal loan out of Americore’s coffers while encouraging the firm to take on greater financial liabilities. The cash infusion from the Middle East never arrived, and, Pritchard says, James Biden has not paid back the loan, the terms of which are unknown.
Accusations against Joe Biden's younger brother claims that he secured a $650,000 loan from a health care company using the family name.
However, James can no longer afford to pay the loan back and is facing potential bankruptcy.
This certainly isn't a good look for the Biden family.
Joe's son, Hunter Biden, was notoriously at the center of the Burisma scandal, where he was placed on the boards of companies and paid exuberate sums of money despite a substantial lack of experience.
Now, the federal investigation into potential fraud by James Biden threatens to further rock Joe Biden's campaign.
Fox News has more insight into the specific healthcare companies involved as well as reports of what Joe was doing at the time:
A new report reveals legal problems and allegations of possible fraud involving former Vice President Joe Biden’s brother James, in the latest instance of the Democratic primary front-runner’s family members’ dealings drawing scrutiny amid his presidential bid.
According to Politico, James Biden’s business with medical companies – including Americore Health – has led to allegations that he potentially engaged in fraud and traded on his brother’s name, by claiming Joe was interested in the venture and the family name could provide opportunities.
“It was all smoke and mirrors,” former Americore Health executive Tom Pritchard told Politico. James Biden reportedly convinced Americore that he could use his political clout to deliver a significant influx of cash in the form of an investment from the Middle East, and even convinced the company to take on financial burdens including a six-figure loan to James that he has yet to repay.
James Biden, Americore and Americore founder Grant White are among those now facing a lawsuit from medical companies in Tennessee federal court accusing them of fraud over alleged promises made. Biden and the other defendants have denied any wrongdoing, but the plaintiffs last month reportedly said in a court filing that they were willing to drop their claims against White, who had provided exculpatory evidence as well as information that further implicated Biden and others.
James Biden’s attorney George Mesires did not immediately respond to a request from Fox News for comment.
Americore is also in bankruptcy court after financial woes that, Pritchard said, James Biden only made worse. In January, the FBI also raided an Americore hospital in Pennsylvania, one of a series of legal complications the company has faced. As noted by Politico, there's no indication the raid was linked to James Biden's actions and he has not been accused of criminal wrongdoing.
According to the report, James Biden introduced White to his brother. The Biden campaign did not immediately respond to Fox News’ request for comment but had confirmed to Politico that White had bought a ticket to a Beau Biden Foundation event in 2017. Any meeting between White and the former vice president “would have been a handshake and nothing more,” they said. The campaign also claimed that Joe Biden never showed support for Americore or even discussed it with his brother.
The President weighed in on Twitter this morning, though he didn't specifically mention James Biden by name.
He simply tweeted about corruption, implying that he will continue to clean the swamp.
Godspeed, Mr. President!