Biden’s brother used his name to promote a hospital chain. Then it collapsed.
S E E D E D C O N T E N T
In 2017, a hospital operator set out to build a rural health care empire with the help of a Philadelphia-area consultant.
The consultant, Jim Biden, had no experience running hospitals. But he did understand the federal government and had ties to labor unions. Perhaps more important, he was the younger brother of Joe Biden.
The final years of the Obama administration had cemented the former vice president’s towering stature in the world of health care, where he had made the fight against cancer a top federal priority and, then, a centerpiece of his legacy-building efforts.
For then 67-year-old Jim Biden, the third of four Biden siblings, his ties to his older brother made up much of his pitch as he pursued deals that could help Americore make money from drug rehab, lab testing and even cancer treatment.
“This would be a perfect platform to expose my Brothers team to [your] protocol,” Jim Biden wrote to the CEO of a Tampa-area company that controlled licensing rights to an experimental cancer treatment the hospital operator wanted to offer. “Could provide a great opportunity for some real exposure.”
The email, obtained by POLITICO from a person close to the company, documents one of the many ways in which Jim Biden invoked his brother’s name and clout in the course of his work with Americore, which has since gone bankrupt, wreaking havoc in rural communities in the process.
Jim Biden spoke of plans to give his brother equity in Americore, according to one former Americore executive, and install him on its board, according to a second. He also said that if Americore could find a winning business model for rural health care, his brother could promote the company in a future presidential campaign, a third former executive told POLITICO. All were granted anonymity to discuss a company mired in legal and political controversy
In order to fund Americore’s expansion, Jim Biden offered to secure capital from investors in the Middle East, according to the emails and executives. When the expected money did not arrive, it aggravated Americore’s preexisting financial issues. The company collapsed, leaving behind unpaid bills and neglected patients.
The management failures took a human toll as hospital staff went unpaid, services dwindled, and authorities were forced to intervene. At Americore’s hospital in southeastern Kentucky — ravaged by staff departures and dwindling medical supplies — a patient died of cardiac arrest in late 2018 after receiving substandard care, according to a Department of Health and Human Services report obtained by POLITICO.
Four years after its bankruptcy, federal investigators are still pursuing questions about what else happened at Americore.
In September, the Securities and Exchange Commission accused one of Jim Biden’s business partners of fraud related to loans to the company, allegations the business partner has denied.
Meanwhile, the Justice Department found that Americore’s hospital in Pennsylvania entered into sham service agreements and paid kickbacks as part of a scheme that billed the government for medically unnecessary lab tests the hospital shipped out to be performed elsewhere.
Those actions are at the center of a federal prosecution of a $100 million conspiracy to defraud Medicare that has netted a guilty plea from the recipient of the kickbacks, and, according to a person familiar with the case, remains ongoing.
Now, House Republicans pursuing an impeachment inquiry focused on the relationship between the president and his relatives’ business dealings have also homed in on Americore. The House Oversight Committee is set to interview Jim Biden on Feb. 21 as part of the inquiry.
As the layers of activity that occurred in and around Americore are peeled back in a federal prosecution in Pennsylvania, a bankruptcy court in Kentucky, and tense witness interviews on Capitol Hill, a POLITICO investigation renders the most detailed picture to date of the ways in which Joe Biden’s relatives leveraged his public stature to advance a private business venture.
The investigation — based on public records, court filings, dozens of interviews and hundreds of exclusively obtained internal documents — reveals that Jim Biden’s role at Americore was larger than previously reported: In some internal documents and investor materials his name is included among its top handful of leaders. He also helped the company seal regulatory approval to acquire the Pennsylvania hospital and personally fired Americore’s chief financial officer, according to the emails obtained by POLITICO.
The investigation also reveals that Joe Biden’s name and inner circle were more involved with the company than has been understood: In addition to the accounts provided by former executives, investor materials described Jim Biden as an adviser to his older brother. And on top of Joe Biden’s own previously reported encounter with the firm’s CEO, at least three of Joe Biden’s relatives did work with Americore. They include Jim Biden’s wife, Sara, and his son, Jamie. The president’s son, Hunter Biden also met with its CEO, and his personal doctor — current White House physician Kevin O’Connor — joined a meeting with Jim Biden and the president of a hospital being acquired by Americore, according to a former executive and emails obtained by POLITICO.
While the extent to which Joe Biden’s relatives have invoked their ties to him to advance their business careers has been a subject of ongoing controversy, the documents obtained by POLITICO demonstrate that Joe Biden was a central element of Jim Biden’s pitch to potential partners and investors during this period.
None of these Biden family members would answer specific questions related to Ameriore. The White House did not respond to detailed requests for comment.
Jim Biden has not been accused of criminal wrongdoing. His attorney, Paul Fishman, said in a statement that he “conducted himself ethically and honorably in all his business dealings.” A spokesman for Jim Biden declined to answer detailed follow-up questions, writing, “We are not able to participate in this story at this time.”
POLITICO’s investigation did not find that Joe Biden involved himself in the firm or took actions on its behalf . However, Joe Biden did benefit indirectly from his brother’s work with the firm. On the same day Jim Biden received a $200,000 payment from Americore, he made out a check for his brother Joe. The White House has said the check was for repayment of a loan, but did not respond to questions about the circumstances of the loan, including whether Joe Biden was aware of his brother’s income from Americore.
Otherwise, Joe Biden remained on the sidelines as his name and relatives became intertwined with a company that was pitched as a vehicle for his legacy, but stands accused of defrauding taxpayers instead.
“I was sold that Americore was going to be the salvation of rural hospitals,” said one of the former executives. “The whole thing was a scam, and it didn’t take that long to figure it out.”
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It's a well done article detailing how corruption works, with access being the hook the Bidens rely on. But this is fraud with actual victims, so I don't expect Democrats to care.
And that James Biden took a $40,000 disbursement from the soon to be bankrupt Americore and passed it on to Joe Biden will be fine and dandy with the same people who think a bank relying on its own valuation of collateral before agreeing to move forward on a successful loan is the crime of the century.
Meaning it fits your preconceptions? It reads like a four year old investigation with unnamed sources, again.
No, just smeared because of his last name.
Lol. Try reading again. It's based on "public records, court filings, dozens of interviews and hundreds of exclusively obtained internal documents" and prepared by a left wing news organization.
No, just smeared because of his last name.
Right. Imagine actually reading this and claiming that. Someday we will find out just what it takes for the Biden cult to criticize Biden. He could shoot someone in the middle of 5th avenue and the responses would be the exact same from the Bidenestas.
too funny u r
and if it was condemning Trump, Bush or Reagan you would be trashing it as hearsay and incomplete.
Come on Sean, it's not as if you are a stranger to the members here.
Stop embarrassing yourself.
It's like putting your name on a university, or a bottle of vodka, or an airline, or a casino that goes bankrupt, or an NFT.
he should change partys and find a red state to run for governor, and then when he term limits, run for the senate. but not in florida, it's already been done there...
hile the extent to which Joe Biden’s relatives have invoked their ties to him to advance their business careers has been a subject of ongoing controversy, the documents obtained by POLITICO demonstrate that Joe Biden was a central element of Jim Biden’s pitch to potential partners and investors during this period.
From Ukraine to rural America, the Biden grift had a similar MO.
But Ivanka ( Chinese patents ) and Jared ( $2billion start up gift from the Saudis ) are all geniuses that never, ever played up the
fact that their last name is Trump and they WORKED IN THE WHITE HOUSE OF THE USA ?
Really Sean?
Eric and Donny would be valets if not for their last name.
But Trump! But Trump! I forgot that the Trumps are the Progressives moral compass. Trump's principles are their principles.
t Ivanka ( Chinese patents ) and Jared ( $2billion start up gift from the Saudis
Did they take money from companies going bankrupt and give it to their Dad? Compare apples to apples.
at the top of the mountain, they were, till they fell into the valet parking lotta business, where they and pop, lowered the valet standard so much, that it required bridges to reach and span the tunnels dug underground till surfaces were reached around buy a pussy grabbin clown finally going down like two dollar hookerz in Chinatown, seekin an aging non-Asian possibly Caucasian wit a knarley frown fronting asz an orange clown juggling courtz and other minerals on his weigh further down that many could knot weight 4, or possibly love to hate for, and so deserved it, as too long has preserved it, bout time we were through wit knit witt twit X buffoon goon gone lune e tune he can't carry either way awards sons either, he'd rather seether, cause then she told me, she had a gun, it sounded like she used it once before", cuz when brotherz can't relate cuz pops a perpetual perp as of late,and they're fantasizing bout being out with mom, out on a date, cause due to a clause, scratched into a Trump itch, Trump is on top of that ditch, pornstar bitch with dimly lit boyz knot two men, tied up again, jugglin quartz drugged out from toys in the attic automatic lee played, like perfect valet parkerz ore not, cux trumP reefers valet drivers at his urban country club, sandwiched, b tween his dispicabull spawn, and a wood b king, F not a Pawn
He sounds more like Rick Scott's brother
Team Biden is Perfect is going to have to come up with a better deflection than that.
Can you even articulate what President Biden supposedly did wrong? I ask because Joe and Jill Biden's taxes are public going back for decades with not even a hint of graft or corruption...
Doesn't matter, apparently Dark Brandon is a mastermind of corruption going back to his Corn Pop days
charging people 25 cents to enter a public pool.
Jim Biden also settled the claim again him in this instance...
It doesn't matter to Republicans
They are still going after Hunter for the two years of taxes he skipped on but eventually repaid with all of the interest and penalties which the IRS accepted and declined to charge him for, as is the norm.
His name is Biden he must be as guilty of something as Trump is innocent of everything.
Tunnel vision.
His family sells influence to him (that's called corruption) and the lemmings pretend Biden just didn't know.
It's comical. The same people who think Trump committed some massive crime (despite having to resort to lies to try and make up a victim) are perfectly with the Bidens literally destroying a hospital chain. How progressives brains don't explode from the dissonance is beyond me.
No, comical is the people whose hair is on fire about a Biden doing business, which is perfectly legal, who give Supreme Court wives, gop Senator's kids and especially Trump's spawn a total pass...
Since 1776 the family and friends of rich and powerful Americans legally profited from their access to power. Don't like it? Fix it...
This "instance" has NOTHING to do with this seed. This instance was a $600,000 loan that James received from Americore Health LLC back in 2018, that was never repaid. This "instance" brought about a lawsuit where the trustees of the bankruptcy of Americore Health LLC sued James for that money. The settlement is for $350,000 to be repaid to settle the lawsuit. Which means the trustees are still out a quarter million dollars that will not be repaid. Wonder if James will file an updated 1040 showing that additional income.
How about that $48 million loan to himself that the former 'president' took out?
Also, I didn't vote for James or Hunter, I voted for Joe.
WTF does that have to do with my post? Or even this seed?
If all you have is poor deflection.....
A wee bit of overdramatization?
Such sweeping generalizations are often revealing of your own dissonance aren't they?
Is ripping off a hospital chain, causing hospitals to shut and deprive Americans of access to health "doing business" in your world?
A wee bit of overdramatization?
So you didn't read the article?
ng generalizations are often revealing of your own dissonance aren't they?
I'm not the one having to make up facts to justify my positions.
Can you articulate what Joe Biden did that upsets you?
Because, his brother doing business is perfectly legal...
Unlike Trump in New York after Judge Engoron's riling!
I did but I don't know your level of deciphering schmear from facts.
Fact, little Jimmy Biden was an outside consultant for a very small hospital that tried to become a chain, overextended itself, dipped into Medicare fraud and other forms of fraud and collapsed when Biden and others could not find anyone crazy enough to invest in rural hospitals which were closing all over the country.
Fact, Biden settled with Americore and returned $350,000 in "consulting fees".
Fact, the article says he hasn't been accused of criminal wrongdoing.
Opinion, you jumped at the chance to publish a cheap smear with no substance. You will get over it.
Back in the day we used to tease a certain member with a meme of a proper Southern Lady on her fainting couch.
I think it's yours now.
Joe has done a lot of things that I don't agree with, add to that he's just showing too many signs of cognitive impairment that I cannot vote for him in November. But that has nothing to do with what I posted in 3.1.7.
Perfectly legal like taking a loan and not paying it back? Can you show me where Trump did that? Would love to see that if you can find the evidence. Trump has stiffed professionals like lawyers and contractors by not paying them, but as far as I know he's repaid all bank loans and banks are in fact (as shown from the New York trial) very willing to continue to do business with Trump.
Seems all you are doing here is trying to distract from the truth and muddy the waters.
Imagine thinking that vindicates him. He admitted trying to take hundreds of thousands of dollars from a failing company that he had no right to and got caught.
According to the WSJ post as provided by JBB back in 3.1.3, the settlement with Americore is for them suing Jim Biden for the $600,000 loan they gave him in 2018. It was not consulting fees. Jim has returned $350,000 as per the settlement for the lawsuit, but did he show the remaining $250,000 that was forgiven as income on his taxes? One sure hopes so.
It does go to show how the Bidens accumulated so much wealth with Joe Biden's Congressional salary the supposed source of their income:
Not a bad deal!
Also doesn't explain why a struggling corporation was "loaning" hundreds of thousands of dollars to someone who was supposed to be raising revenue for the company. Americore wasn't in the business of personal loans, yet Jim Biden got one.
So, I shouldn't mention that half a billion he owes now?
Well it is firewalled
All I could see was this which indicate multiple payments, not one loan.
As for his tax filings, I am pretty sure they will be handled according to IRS rules as he is under a microscope now.
And another deflection rather than comment on the actual seed.
He says it was financial and consulting services and the trustees filed suit over a loan that was not paid back.
Here's another article on the lawsuit, this one is not firewalled.
Another source that states it was a loan contingent on if he were to bring in Middle East funding which he did not.
That's why I asked it as a question and not a statement. One can only hope that the IRS is as non-partisan as they should be but to be honest I have little hope that is true.
Then again he could have claimed it as income that year and now gets to claim a refund for the loss,
who knows.
So, let me get this straight. Clarence Thomas can be bought off by a billionaire and Jared can borrow two billion from the Saudis, but if you are Fani Willis or merely named Biden you cannot earn a legal living or even split a $100 dinner check? Gotcha!
Lenders forgave $287 million in unpaid debt by Trump: report - MarketWatch
It's also hard to believe no one was hurt financially in all of his failed businesses or 4 admitted bankruptcies.
Brandon is both a master criminal mind and has dementia at the same time, what an amazing situation, I'll have to have a righties explain to me how that works.
Was he on trial for his past bankruptcies?
You’re trying to intimate it was only about splitting a $100 dinner check? Ridiculous. First of all I doubt she’s seen a $100 dinner check for a long time. More like a $1000 dinner check. Second of all are you forgetting luxury vacations etc?
Yes, yes you are but no worries. She paid cash for everything. I hear black folk hide a lot of cash at home for just such “emergencies.”
You being ridiculous does not advance your argument. Can you even articulate a crime President Biden is accused of?
Another deflection from the seed?
Oh, were you talking about Biden? …… squirrel!
22 million reasons black America doesn’t trust banks (theconversation.com)
Black People's Mistrust of Banks Goes All The Way Back to the 1800s (atlantablackstar.com)
How the Freedman's Bank failure still impacts Black Americans (marketplace.org)
Yep, financial genius.
Actually thinking back my Moms Irish family kept all of their money in the basement in a safe and some clever hidy holes because of their experience during the great depression.
My father's family never had money. My mother had to handle every thing and basically kept her envelope system in a dining room drawer and her savings somewhere in her bedroom until her brother became a local banker after his tour of VN, then he convinced most of the families to invest in a Savings bank and CDs
Wasn't talking about Clarence Thomas, Jared or Fani Willis in 3.1.24. The entirety of the comment was about James Biden. Care to talk about what I actually posted or do you wish to continue to deflect?
or Billy Carter
The Biden business model:
So please share with us your outrage when Trump University went under.
Trump casinos, Vodka, Airlines, frozen foods, countless real estate deals
the game, the magazine, the travel search engine, the mortgage company etc
All of which depended on the Trump name
and hurt the little people who bought in or invested.
and you offer opinions from Twitter as proof?
that's just too pathetic for me, sorry.
The Biden crime syndicate. Guido city ….
I read the whole article and did not see where Jim Biden did anything outside the norm. He tried to secure funding and that funding never materialized. It looks like he departed once it became clear to him that the company was defrauding the government and investors.
Once again, I see no "there" there.
All they ever have.
now,
it will be ok, if your last name isn't Trump,
or you're just Biden your time with such a sir name