James Biden testifies brother had no ‘direct or indirect financial interest’ in business ventures

James Biden testified Wednesday that his brother, President Biden, “never had any involvement or any direct or indirect financial interest” in his business ventures, countering Republican claims that the president was involved in his family’s business dealings.

The statement came during James Biden’s transcribed interview before the House Oversight and Accountability Committee, part of the GOP’s impeachment inquiry into the president. The multi-pronged probe has included allegations that the president was involved in the family’s business ventures, prompting claims of corruption and influence peddling.

“I have had a 50-year career in a variety of business ventures. Joe Biden has never had any involvement or any direct or indirect financial interest in those activities. None,” James Biden said in his opening statement, which was obtained by The Hill.

James Biden, a younger brother of the president, also said in his opening statement Wednesday that he has “always kept my professional life separate from our close personal relationship,” citing the elder Biden’s “personal integrity and character.”

“I have never asked my brother to take any official action on behalf of me, my business associates or anyone else,” he testified.

He also said he never relied on his “status as Joe Biden’s brother” when involved in various business ventures.

“Those who have said or thought otherwise were either mistaken, ill informed, or flat-out lying,” the younger Biden said.

Republicans have specifically zeroed in on two checks James Biden paid his brother — one worth $200,000 and another $40,000 — that GOP lawmakers allege played a role in a bribery scheme. No evidence, however, has been provided to prove those claims, and the Bidens have described them as loan repayments.

James Biden re-upped that sentiment on Wednesday, noting that when he faced financial hardship he turned to family, friends, financial institutions or business partners for loans.

“The Committees have asked about those loans from my brother. They were short-term loans that I received from Joe when he was a private citizen, and I repaid them within weeks. He had no information at all about the source of the funds I used to repay him,” James Biden said in his opening statement. “The complete explanation is that Joe lent me money, and I repaid him as soon as I had the funds to do so.”

Rep. Jamie Raskin (Md.), the top Democrat on the Oversight Committee, told reporters on Wednesday, as Biden’s interview was ongoing, that he had “heard nothing indicating that Joe BIden had anything to do with the business ventures of Hunter Biden or James Biden.”

“Nothing has contradicted that basic understanding that we’ve had for many, many months now,” he added.

The Bidens have described the $200,000 check from James Biden, which was written after he received a loan from Americore Health, as an unrelated loan repayment. James Biden allegedly told the company his name could “open doors” in the Middle East, but he did not end up assisting. Additionally, the loan payment does not bear any connections to foreign work.

James Biden testified on Wednesday that his brother was not involved with his work for Americore.

“Once again, my brother played no role, was not involved with, and received no benefits from my work with Americore,” Biden said in his opening statement.

The $40,000 check was also characterized as a loan repayment. It was written after Hunter Biden landed a deal with a Chinese energy company and wired money to James Biden, some of which he used to repay President Biden. Republicans have zeroed in on that payment as part of their allegation that the president took laundered money from China.

James Biden, however, beat back at that narrative on Wednesday, saying in his opening statement “My brother played no role, was not involved with, and received no benefits from my work with” the Chinese energy company.

“I have nothing to hide,” James Biden said at the end of his opening statement. “With my appearance here today, the Committees will have the information to conclude that the negative and destructive assumptions about me and my relationship with my brother Joe are wrong.”

“There is no basis for this inquiry to continue,” he added.

Mike Lillis contributed. Updated at 2:21 p.m.