James Biden’s ‘forgiven’ $225K debt was assumed by secret third party: creditor

[mystery-ak]

 James Biden’s ‘forgiven’ $225K debt was assumed by secret third party: creditor
By Social Links for Steven Nelson
Published March 4, 2024, 1:03 p.m. ET

WASHINGTON — President Biden’s brother James repeatedly told Congress in recent impeachment inquiry testimony that a Florida hedge fund owner forgave a $225,000 loan to him — when in fact a secret third party allegedly assumed and will repay the debt, according to a new report.

James, 74, told House investigators on Feb. 21 that businessman Michael Lewitt, whose fund provided money to financially distressed rural hospital provider Americore — which James was representing — loaned him $225,000 in 2019 and that the amount was later “forgiven by Michael Lewitt.”

But Lewitt, who was charged with stealing from his investors by the Securities and Exchange Commission in September, told Politico Friday: “I can confirm my fund made those loans, but they were not forgiven they were assumed by a third party and will be repaid to my fund.”

Lewitt told Politico he believed the third party, which he refused to identify, assumed the debt in early 2020.

Lewitt is accused by the SEC of diverting $4.7 million from investors for “his personal use” as well as pumping nearly $20 million into Americore without notifying his stakeholders. He did not provide an on-record response to The Post.

more
https://nypost.com/2024/03/04/us-news/james-bidens-forgiven-225k-debt-was-assumed-by-secret-third-party-creditor/?utm_medium=social&utm_campaign=nypost&utm_source=twitter

[DefiantMassRINO]

1.) Isn't forgiven debt taxed as income?
2.) Isn't what James Biden received called a "kickback" or "bribe" by the FBI?  (Not to mention the obvious of interest)
3.) Isn't such an "arrangement" grounds for a money laundering investigation?
4.) Hedge Funds are not charities.  They forgive nothing.
5.) Who is holding James Biden's chit?
6.) If Americore was the recipient of Federal Funds, aren't GAO and IRS audits warranted?
7.) Were either Americore or the hedge fund acting as corrupt enterprises, subject to RICO prosecution?

Every private and public entity that gave mone, in whatever form, to James Biden should be audited immediately for fraud and other financial crimes.

If you can't get to Hunter Biden or James Biden, then you chase after those who did business with them.  For every dollar that is income or loan forgiveness on the Biden ledger, there should be a corresponding "accounts payable" entry on the counter-parties' ledgers.

[Hoodat]

Either repay Lewitt the $225k you allegedly borrowed, or go to prison for tax fraud.  Your choice.