WASHINGTON (PNN) - March 9, 2020 - Americore, a healthcare company associated with James Biden, the younger brother of 2020 presidential hopeful Joe Biden, was raided by the Federal Bureau of Investigation in January.
Now a former executive has said that the younger Biden exacerbated Americore's financial woes by trading on the ex-vice president's name and taking out a six-figure personal loan from the company's coffers.
Tom Pritchard, a former Americore executive, said that James Biden introduced the founder of Americore to his older brother Joe and helped the healthcare company get a bridge loan from a hedge fund.
At the same time, James Biden, took out the personal loan and suggested that the company take on greater financial liabilities.
The personal loan, according to Pritchard, was never paid back.
James Biden had promised Americore executives that he could bring in a large investment from the Middle East thanks to his political connections.
But the cash never came, Pritchard said. “It was all smoke and mirrors,” said Pritchard.
Americore is currently in bankruptcy court.
Additionally, two small medical firms that did business with James Biden have claimed in civil court that they have evidence that he may have fraudulently transferred funds from Americore outside the ordinary course of business.
There's no indication that the FBI raid, which occurred in January at a hospital in Ellwood City, Pennsylvania, has anything to do with James Biden.
There were already mismanagement problems dogging Americore.
But Joe Biden's family members were trying to enrich themselves using the Biden name.
Fascist Police States of Amerika President Donald Trump's impeachment revolved around a plot to have Ukrainian President Volodymyr Zelensky announce an investigation into Joe and Hunter Biden, since Hunter Biden had sat on the board of the Ukrainian oil company Burisma.
The president was accused of holding up around $400 million in military aid to Ukraine to exert his will.
Trump has continued to maintain that Hunter Biden had no business serving on the Burisma board and was only paid money because of his family name.
Senate Republicans are continuing to pursue investigations into Hunter Biden as well.
James Biden's attorney did not comment.
Joe Biden's campaign responded by saying that Joe and James never discussed Americore, and the former vice president never expressed support for his brother's business.
The founder of Americore, Grant White, attended a September 2017 fundraiser for the Beau Biden Foundation, which Joe Biden attended, the campaign divulged, but said interactions between the two men were limited.
“If the two interacted in any way, it would have been a handshake and nothing more,” the unnamed Biden campaign official said.