Americore Trustee Carol Fox sat for an interview with the Oversight Committee on Monday, as Republicans charge full steam ahead with their impeachment inquiry less than a week after a House vote to authorize it.
The interview is part of Republicans' probe into whether President Joe Biden profited off his son and brother's business dealings - and came in connection to their allegation that Biden got a $200,000 payment from his brother James shortly after a lucrative business deal.
Despite not being a public health consultant or medical expert, James Biden was hired by Americore as the health care startup trying to build hospitals in rural America as his brother was leaving the vice presidency.
But unfortunately for Americore, James Biden and his connections fell flat. The company imploded in 2019, filing for bankruptcy amid a pile of lawsuits and a federal investigation into fraud allegations. Americore also accused Jim Biden of failing to repay $600,000 in loans.
Americore Trustee Carol Fox sat for an interview with the Oversight Committee on Monday, as Republicans charge full steam ahead with their impeachment inquiry one week after a House vote to authorize it
Fox has sued James Biden claiming James 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.'
Fox alleged James Biden 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.
Jim Biden last year repaid Americore $350,000 to settle the lawsuit - though his lawyers said he played no role in the company's demise and that he had received the money for consulting work, not loans, as the Fox had alleged as the trustee.
According to one source familiar with the interview, Fox identified no services rendered by James Biden to Americore - and that Americore provided a “loan” to James Biden with no documentation in return for a promise of funding from the Middle East that never came.
Another source with direct knowledge of the interview insisted Fox said she had no evidence of Jo Biden being involved in his brother's business and she said she believed the settlement was fair and equitable.
According to bankruptcy court documents, James Biden took money from his health care business Americore and sent it directly to his brother Joe Biden.
Despite not being a public health consultant or medical expert, James Biden was hired by Americore as the health care startup was trying to build hospitals in rural America as his brother was leaving the vice presidency.
The documents show that in 2018, James Biden obtained $600,000 in loans from Americore. James was able to receive the loans based upon 'representations' that his last name, 'Biden,' could 'open doors.'
On March 1, 2018, Americore wired a $200,000 loan into the personal bank account of James and Sara Biden.
That same day, James Biden wrote a $200,000 check to 'Joseph R. Biden' from his personal account for a 'loan repayment.' At the time, Joe had already left the vice presidency position.
Democrats point to bank records showing that weeks earlier Joe had lent James the exact same amount.
Republicans leading the investigation into the Biden family's 'influence peddling scheme' that is the center of their impeachment inquiry into the president, say this personal check directly shows Joe was aware of - and included in - his family's dealings.