James Biden says his brother ‘has never had any involvement’ or any ‘financial interest’ in business ventures

FIRST ON FOX: James Biden testified Wednesday that his brother, President Biden, “has never had any involvement or any direct or indirect financial interest” in his business ventures, Fox News Digital has learned.

The president’s brother arrived on Capitol Hill Wednesday morning for a closed-door deposition before the House Oversight and Judiciary Committees.

Fox News Digital obtained the first brother’s opening statement.

James Biden, brother of US President Joe Biden, arrives for a deposition before the House Oversight and Judiciary Committees on President Biden’s impeachment inquiry in Washington, DC, February 21, 2024. (Jim Watson)

“I have had a 50-year career in a variety of business ventures,” James Biden said in his opening statement. “Joe Biden has never had any involvement or any direct or indirect financial interest in those activities. None.”

James Biden went on to defend his brother, the president, saying that because of his “intimate knowledge of my brother’s personal integrity and character, as well as my own strong ethics, I have always kept my professional life separate from our close personal relationship.”

James Biden, brother of US President Joe Biden, arrives for a deposition before the House Oversight and Judiciary Committees on President Biden’s impeachment inquiry in Washington, DC, February 21, 2024. (Getty Images)

“I never asked my brother to take any official action on behalf of me, my business associates, or anyone else,” James Biden said. “In every business venture in which I have been involved, I have relied on my own talent, judgment, skill, and personal relationships—and never my status as Joe Biden’s brother.”

He added: “Those who have said or thought otherwise were either mistaken, ill informed, or flat-out lying.”

James Biden stressed that Joe Biden “played no role, was not involved with, and received no benefits” from his work with Chinese energy company CEFC, or the healthcare company Americore.

“With my appearance here today, the Committees will have the information to conclude that the negative and destructive assumptions about me and my relationship with my brother Joe are wrong,” James Biden said.

So far in the investigation into Biden family businesses, House Oversight Committee Chairman James Comer said he has found that Biden family members, their business associates and their “related companies” received “significant payments from individuals and companies in China, Russia, Ukraine, Kazakhstan and Romania.”

Comer said the committee has learned throughout its investigation that the Biden family and their business associates brought in more than $24 million between 2014 and 2019 by “selling Joe Biden as ‘the brand’ around the world.”

Republicans have also focused on a “$200,000 direct payment” in the form of a “personal check” from James Biden and Sara Biden. That check was labeled “loan repayment.” 

“On March 1, 2018, Americore wired a $200,000 loan into James and Sara Biden’s personal bank account — not their business bank account,” Comer continued. “And then, on the very same day, James Biden wrote a $200,000 check from this same personal bank account to Joe Biden.”

“Americore — a distressed company — loaned money to James Biden, who then sent it to Joe Biden,” Comer said.

This is a developing story. Please check back for updates.