The approximately $650,000 was originally intended to be used for Americore working capital. Asked to confirm that Langston was the source of Biden’s loan, White wouldn’t confirm or deny Langston was the source of the loan Biden wanted to pay back.

When James ran into trouble, Joe, as a senator, later complained that the bank shouldn’t have loaned James the money. HUNTER BIDEN SCANDALS EXPLAINED: UKRAINE, CHINA, DRUG HISTORY AND MORE. White says he had almost no role in these efforts to raise money overseas. A lawyer for James Biden said he could not comment on the accusations owing to laws in Tennessee, where the lawsuit originated, that limit what attorneys can say about ongoing litigation.

James Biden reportedly convinced Americore that he could use his political clout to deliver a significant influx of cash in the form of an investment from the Middle East, and even convinced the company to take on financial burdens including a six-figure loan to James that he has yet to repay. He was, however, MBNA’s greatest champion in the Senate.

A source close to Lewitt flatly denies that sanctions were ever a fundraising issue for Lewitt and Biden calling them “nonsense.”, There was, however, one notable instance where White says he did assist in raising funds for Americore. Throughout the 1990s, bankruptcies were on the rise, and MBNA began pushing hard to reform the law to make it harder for people to discharge debt. “On the same day that the impending Rosneft deal was announced, Hunter Biden and Gongwen Dong, a Chinese national who has reportedly executed transactions for limited liability companies controlled by Ye Jianming, applied to a bank and opened a line of credit under the business name Hudson West III LLC,” the report stated. Scruggs was famous for his work obtaining a $248 billion tobacco settlement on behalf of several states in 1998 – Scruggs’ cut of the settlement was was somewhere around $300 million. The lawsuit, filed by Tennessee businessman Michael Frey and his partner Dr. Mohannad Azzam, owners of Diverse Medical Management, also named Amer Rustom, another investor in Americore along with Biden and Lewitt. Hunter Biden has been facing accusations that he exploited his father’s political connections for profit, specifically that he raised large sums for his hedge fund from Chinese investors after he accompanied his father on a trip to China while the latter was vice-president. Sen. John Kerry, center, D-Mass., with daughter, Vanessa, left, stepson, Chris Heinz, second right, and wife Teresa Heinz-Kerry, right. In 2014, he was gracing the front page of the company’s website, according to web archives. He was worried about losing his vacation home, so he approached White. According to under-oath testimony, that wasn’t true. But a new opportunity was about to present itself: That same month, protesters in Kiev’s Maidan overthrew the government of Viktor Yanukovych in Ukraine, sparked by the government’s unwillingness to sign an association agreement with the European Union. Regulators in London had seized more than $20 million in cash from the firm amid claims by rivals that it had compiled its assets illegally. The efforts proved to unsuccessful, though, with James and Hunter Biden choosing to strip and sell the company off by 2010 after a number of bad decisions, including partnering with a Ponzi scheme. Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. In the weeks since the raid, two small medical firms that did business with James Biden have claimed in civil court proceedings to have obtained evidence … In addition to the damage sustained by the vacation home, White says Biden was deeply concerned about paying back a personal loan that was due, which was secured by the vacation house. “Listen, his name helps him get in the door, but it doesn’t help him get business,” he said.

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