Hunter Biden isn’t the only member of the Biden Mafia in the sights of the FBI and Justice Department. Another target for investigation is James Biden, Hunter’s uncle and “President-elect” Joe Biden’s brother.
The feds are looking into James Biden’s monkeyshines in the healthcare industry with particular respect to shady dealings with Americore Health, a bankrupt rural hospital outfit.
That’s isn’t to say Biden caused the bankruptcy, of course. But it is to say the Bidens are neck deep in business deals that will enrich them if the businesses don’t go belly up.
The question here is this: What was Biden’s role at Americore?
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Unpaid Loan
Just as the FBI has resurrected its probe of Hunter Biden, which began last year, the agency has also “been asking about James Biden’s dealings with … Americore Health,” Politico reported in its story about Hunter.
But as with the Hunter Biden story, this one is nothing new. Most of the leftist media have merely ignored it.
Politico offered a full report in March, having learned the FBI agents raided the company.
The raid “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,” the webzine reported.
The FBI raid was unconnected to Biden. Not so with a lawsuit against him last year, Politico reported:
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.
“It was all smoke and mirrors,” Pritchard said.
Meanwhile, Americore found itself increasingly hamstrung by high-interest loans and unable to pay employees and vendors, a situation that disrupted the operations of the rural hospitals it owns.
Now, the business is in bankruptcy court, and federal authorities are circling.
Joe Biden’s campaign handlers told Politico he never discussed Americore with James, just as he claimed he never discussed Hunter’s business in Ukraine with Hunter. The latter claim, of course, was false.
That aside, Politico reported, the lawsuit against Biden describes a man trying to get rich on his brother’s political power:
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. As previously reported, those firms alleged that James Biden cited his family’s political connections and promised his older brother would promote their health care model as part of his 2020 presidential campaign. …
The plaintiffs … described him as a principal of Americore and entered a business card identifying him as such into evidence. James Biden has disputed that he is a principal of the firm in court proceedings, though he has not detailed the precise nature of his ties to Americore.
Americore’s Pritchard and another exec said Biden presented himself as a company bigwig. “He was operating as a principal or Jim was portraying that,” Pritchard said. “Whether on paper he had any ownership, I’m not 100 percent sure.”
Biden told Americore’s people that “he could get us in front of the unions,” Pritchard told Politico. “He could get us in front of certain people in government. He could get us in front of the right people.”
An employee at a company-owned hospital thought Biden a top dog when he visited. And at Americore’s office in Fort Lauderdale, Florida, Biden set up a “little shrine” to him, his brother, and Barack Hussein Obama.
As for the loan Biden hasn’t repaid, it worked this way:
Pritchard said James Biden arranged a bridge loan to Americore via his business partner Michael Lewitt’s hedge fund, the Third Friday Total Return Fund.
But Pritchard said he learned that after Americore received the bridge loan, it made a six-figure loan to James Biden for his personal use.
The assets schedule in Americore’s federal bankruptcy documents shows $650,000 due to accounts receivable — James Biden’s “loan.”
“Pritchard said that after James Biden received his loan payment from Americore, James reduced his involvement with the firm as its financial difficulties mounted,” Politico reported.
The Bidens deny any and all wrongdoing.
And that will be just fine with the pro-Biden media.
