Former White House ethics lawyer Richard Painter says Joe Biden MUST provide confirmation of his $200,000 loan to his brother James after Republicans disclosed a personal check they claim is evidence of influence peddling by the Biden family.
On Friday, the House Oversight Committee published evidence that the President’s brother James Biden received a $200,000 loan from a healthcare company he was working for in March 2018 – and on the same day wrote a check for the same amount to Joe, designating it as a “loan repayment.”
It is the first evidence of significant direct payments to the President from Biden family members involved in shady international transactions, and it was obtained through a congressional subpoena of James and First Son Hunter Biden’s bank records.
In an exclusive interview with DailyMail.com, former White House ethics chief Richard Painter of the Bush administration stated that the President could face “severe consequences” if he is unable to produce proof that the alleged loan is genuine, and demanded that his subordinates produce the receipts.
Painter stated, “What is absolutely critical here is to find documentation of the original loan from the President to his brother, and the President should produce that.”
“If there was no loan, there are serious questions about whether this was income for tax purposes in 2018. That’s really a huge problem,” he continued. “I’ve seen plenty of families make short term loans. There’s absolutely nothing wrong with that. But there needs to be a loan on the other side,” he added.