James Biden Accused of Failing to Deliver on Promises After Receiving $600,000 Loan

Carol Fox, bankruptcy trustee for Americore, testifies to Congress that James Biden did not deliver on his promise to secure funding for the company, leading to its financial ruin.

James Biden, brother of President Joe Biden, reportedly received a $600,000 loan from healthcare company Americore in 2018, promising to use his political connections to secure funding from the Middle East, which never materialized.
Carol Fox, a bankruptcy trustee for Americore, testified to Congress that there were no documents to back up this agreement and that James Biden did not deliver on his promise, leading to the company's financial ruin.
On the same day James Biden received a $200,000 wire transfer from Americore, he wrote a check to Joe Biden for $200,000 with the description 'loan repayment', raising questions about the president's potential involvement in his brother's business dealings.
Democrats argue that the $200,000 payment to Joe Biden was a short-term, interest-free loan between brothers, while Republicans suggest the origin and purpose of the loan remain unclear.
Fox stated that she has no evidence of Joe Biden being involved in any of James Biden’s business dealings.