Who did Biden buy the house FROM?
The article implies that there is no explanation of where the $2.75 million in cash came from — no evidence of selling investments, cashing in savings bonds, withdrawing it from a bank account etc.
Seems possible that no cash was gathered because Joe didn’t actually pay any. What stops some briber from buying a house Joe wanted, deeding it to him for nothing, then recording paperwork pretending Joe ponied up $2.75 million?
Bribes could be laundered by having entities “invest” in some of Hunter’s ventures and 20 shell corporations. After some kiting, a proxy buys and “sells” the house to Joe. The county will record a deed and a sales agreement, so long as they are fully executed and in proper form. Recorders never see the physical checks or cash — it’s not their job.
Comer needs to look into the chain of title on Joe’s Beach House, and scrutinize the Buyers & Sellers, going back multiple sales if there was much turnover.
Fake real estate deals and repayments for fake loans seem like perfect mechanisms for building Biden’s mysterious wealth.
Faked “cash” real estate deals and a “Repayment for Fake Loans Act”
are perfect cover-ups for Biden’s get-rich-quick schemes. Comer needs to:
<><>look into the chain of title on Joe’s Beach House,
<><>scrutinize the Buyers & Sellers,
<><>go back over multiple sales to check turnover.
ProPublica Feb 14, 2020-——Joe’s brother Jim Biden was in a bind. An investor had put up $1 million to help Jim and his nephew Hunter buy a hedge fund. Then it turned out that the fund’s assets were worth less than the Bidens had thought. Now the investor wanted its money back.
It was December 2006, not long before Jim’s older brother and Hunter’s father, Joe Biden, then a Delaware US Senator, would announce his second campaign for president.
Jim and Hunter Biden got a loan from a bank founded by one of Joe’s political backers — William Oldaker, an attorney for the senator’s presidential campaign and Hunter’s partner at a Washington law and lobbying firm.
Oldaker had strong ties to Joe Biden’s political operation, and at the time, the bank, WashingtonFirst, had nearly half a million dollars in deposits from a Joe Biden political committee Oldaker had helped set up
But Washington First was less than three years old, and a $1 million loan was large for its size. The bank required that loans be well secured by borrowers’ assets.
<><>Jim Biden put up his house in Merion Station, Pa, as collateral, but he already had $1.5 million in three mortgages against the property, then roughly valued at just over $1.1 million.
<><>Hunter offered as security his recently purchased Washington home, for which he had borrowed almost the entire purchase price.
Oldaker did not return phone calls, and a source close to Jim and Sara Biden said all of their loans were properly secured.
It was not the first time — or the last — during his long career that Jim Biden turned to Joe’s political network for the kind of assistance that would have been almost unimaginable for someone with a different last name.
Campaign donors helped Jim face a series of financial problems, including a series of IRS liens totaling more than $1 million that made it harder to get bank financing. Jim Biden took out two more loans from Washington First before its sale in 2018.
These transactions illuminate the well-synchronized tango that the Biden brothers have danced for half a century. They have pursued overlapping careers — one a presidential aspirant with an expansive network of well-heeled Democratic donors; the other an entrepreneur who helped his brother raise political money and cultivated the same network to help finance his own business deals.
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