Politico Uncovers Allegations Of Suspicious Business Dealings Involving Joe Biden’s Brother
It seems that former Vice President Joe Biden might have some splainin’ to do. Politico published a report on Monday revealing that his brother, James Biden, may have “fraudulently transferred funds” from a hospital and also taken funds as a “personal loan” that he has not yet repaid.
The FBI raided Americor Health hospital on January 20 amid suspicions of illegal activities involving members of Biden’s family. It appears they may have found evidence of illicit business dealings in connection to the former vice president’s career as a government official.
After the raid, two medical firms who had business relationships with James Biden stated in civil court proceedings that they possessed evidence that his transfer of funds from Americore was “outside of the ordinary course of business.” Politico reports that this case might represent, “potential pitfalls for the former vice president”
From Politico:
“The raid of an Americore Health hospital represented a deepening of the legal morass surrounding James Biden’s recent venture into healthcare 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.”
Politico points out that the reason for the raid has not yet been publicized, and the extent to which the investigation involves James Biden is unclear. But the news outlet does note that Americore’s owner “has faced legal problems and allegations of mismanagement that are unrelated to James Biden.”
But the article also indicates that legal filings that have been given to Politico show that the connection between James Biden and Americore could become an issue for the former vice president as he seeks the nomination.
Politico’s report follows its January 28 report on a 2005 land deal involving Biden’s brother James Biden and Scott Green, who was a staffer in the 1980s and 1990s for then-Senator Biden before becoming a lobbyist. Green’s clients, Politico explains, “benefited from Biden’s support and appropriations requests” both “before and after” the deal with his brother.
Legal filings and statements that former executives of Americore gave to Politico provide a more complete perspective on James Biden’s dealings with the company and how they might become a nuisance to the former vice president. “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,” the author wrote.
Tom Pritchard, a former executive for the company, told Politico that James Biden stated he could bring a significant investment from the Middle East using his political connections. He helped the company secure a bridge loan to Americore from a hedge fund, according to Pritchard. Then, James Biden obtained a six-figure personal loan from Americore. But the money from the Middle East never materialized and he has not repaid the loan. “It was all smoke and mirrors,” Pritchard told Politico.
An official with Joe Biden’s campaign claimed that he never had a conversation with his brother about Americore. Grant White, the founder of the company, did attend a September 2017 fundraiser for the Beau Biden Foundation. “If the two interacted in any way, it would have been a handshake and nothing more,” the official said.
This is not the first time James Biden has been alleged to have made promises of Middle Eastern investments to deceive a company.
From Politico:
“Last year, two medical services firms jointly sued James Biden and his business partners in federal court in Tennessee, alleging James and his partners promised to provide a large investment from the Middle East, then pushed the firms to make expensive acquisitions, as part of a scheme to drive them out of business and steal their business models.”
The plaintiffs allege that James Biden touted his family’s political connections and intimated that the former vice president would “promote their health care model as part of his 2020 presidential campaign.”
There can be no doubt that should Joe Biden win the Democratic nomination, his brother’s business dealings could become a pesky thorn in his side. The scandal regarding his son, Hunter Biden, is already under scrutiny, and President Donald Trump will not hesitate to draw attention to the candidate’s family dealings.
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