Federal authorities are investigating financial dealings associated with Jim Biden, the brother of President Joe Biden, as part of a broader criminal inquiry.
This probe, as reported by Politico and based on information from three sources with knowledge of the matter, spans activities in South Florida and pertains to a Medicare fraud case in Pennsylvania.
Specifically, the scrutiny falls on transactions connected to Americore, a hospital chain that hired Jim Biden to attract foreign investments before it went bankrupt. A 2022 lawsuit claims that Jim Biden improperly received funds from the investors of the Third Friday Total Return Fund, accused of misappropriating $600,000 to pay him.
Jim Biden and Joe Biden (Credits: The Telegraph)
Of these funds, Jim Biden is said to have transferred $200,000 to Joe Biden, described as repayment for a personal loan. Hunter Biden, the president’s son, whose lawyer represented the lender in some of these disputed transactions, adds another layer to this complex situation.
In Pennsylvania, allegations against Americore include defrauding the government by wrongly claiming tens of millions of dollars in Medicare reimbursements.
While federal investigators have chosen not to comment on these ongoing inquiries, Jim Biden’s attorney, Paul Fishman, stated unequivocally that “Jim Biden is not being investigated by federal law enforcement in Florida or Pennsylvania.”
The financial interactions involving Jim Biden, his connections with Americore, and the resultant payments to the Biden family have also attracted congressional attention. Jim Biden was called to testify before Congress in February regarding these matters.
Interview with Michael Lewitt (Credits: Real Vision)
During his testimony, Jim Biden mentioned believing that a former business partner, Michael Lewitt, had written off $225,000 in loans to his company. Contrarily, Lewitt disclosed to Politico that he did not forgive the loans; instead, they were taken over by an unidentified third party at the beginning of 2020.
These revealing investigations into Jim Biden’s financial transactions spotlight the funding sources for the Biden family during the presidential campaign, triggering further inquiry into the economic backdrop of their political and business activities.
