Biden received $40K 'loan repayment' funded by China from brother's account, bank records indicate

Before becoming president, Joe Biden received a $40,000 check marked as a "loan repayment" from his brother's account, but the money may have come from a Chinese company, according to evidence released Wednesday by House Oversight and Accountability Committee Chair James Comer, R-Ky.

The money trail began when first son Hunter Biden demanded in July 2017 that Raymond Zhao, an associate linked to the Chinese Communist Party and the now-bankrupt CEFC China Energy, pay him $10 million, according to Comer. 

Northern International Capital, a Chinese company connected to CEFC, sent $5 million in August 2017 to Hunter Biden's company.

Later that month, Hunter Biden wired $150,000 to Lion Hall Group, a company owned by Biden's brother, James Biden, and his sister-in-law Sara Biden, evidence shows. Days later, Sara Biden took out $50,000 in cash from Lion Hall Group and then deposited it into her and James Biden's personal account that same day. The following week, Sara Biden sent a $40,000 check to Joe Biden marked as a "loan repayment."

"It’s certainly plausible that this payment where James and Sara used funds from China was indeed a loan repayment to Joe," Comer said. "But even if this $40,000 check was a loan repayment from James Biden, it still shows how Joe benefited from his family cashing in on his name – with money from China no less."  

Comer released records last month showing that James and Sara Biden wrote a personal check marked as a "loan repayment" to Joe Biden in 2018 for $200,000.

CNN reviewed the banking records and reported that they "provide substantial evidence in support of the Democrats’ assertions that there was indeed a $200,000 loan from Joe Biden to James Biden less than two months before the James Biden 'loan repayment ' check to Joe Biden for the same amount."

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