(CBrief) – Questions continue to swirl around a financial move President Joe Biden made in December, with the White House and other members of the administration failing to provide an explanation.
Biden obtained a $250,000 line of credit on his Delaware beach house, the timing and reason for which remain unclear. The development occurred as investigations into his son Hunter’s questionable business activities continue to intensify, and as concerns persist regarding his own classified document controversy.
Last month, Fox News reported that Biden signed documents on December 5th to secure a variable rate line of credit on his Rehoboth, Delaware beach house from M&T Bank, using its equity which is valued at $2.74 million. Despite the loan being publicly disclosed for almost a month, the White House communications team has declined to answer any questions from the media regarding the purpose or rationale behind the President’s decision to obtain the loan, representing another instance of limited transparency from the administration, the Western Journal noted.
While the White House acknowledged the existence of the loan, they have declined to provide any further details upon being pressed for additional information. In a recent instance, Karine Jean-Pierre, Biden’s press secretary, was asked about the loan while aboard Air Force One, but instead of providing an answer, she referred the question to another department within the administration, the report said.
"Biden secured a $250,000 line of credit against his Delaware beach house amid a probe into his son Hunter Bidens' tax affairs and in the midst of his own classified documents scandal – a financial move that remains a mystery."https://t.co/qEsvJJpNQp
— RNC Research (@RNCResearch) March 3, 2023
“Yeah, I saw reports on that,” Jean Pierre said, according to Fox News. “I would just refer you to the White House Counsel’s Office.”
But that office also has refused to provide answers, the Western Journal noted, adding:
The Delaware beach house is the same property that Biden spent more than $500,000 in taxpayer funds building a wall around to protect him from outsiders.
The barrier was started early in his presidency at exactly the same time he was still bragging about how he had canceled the construction of walls on our southern border that had been started by President Donald Trump.
The beach house is also one of the sites recently searched by the FBI after it was shockingly discovered that Biden illegally stored classified government documents in his Wilmington, Delaware, garage and at his former Washington office.
The classified document controversy arose just a year after Biden publicly criticized former President Donald Trump for storing documents illegally at his Florida residence, and five years after he stated in an interview that he lacked access to classified documents.
To date, the FBI has conducted searches at four different locations, including Biden’s two Delaware residences, his Washington D.C. office, and the archives of his papers at the University of Delaware, in search of classified documents that may have been illegally held. The extent of the documents discovered at these locations has not been fully disclosed.
“The discoveries forced Attorney General Merrick Garland to appoint U.S. Attorney Robert Hur as special counsel in mid-January to investigate Biden’s handling of the classified documents,” Fox News noted.
Amidst ongoing scrutiny regarding Hunter’s questionable multimillion-dollar business dealings, the president is facing additional scrutiny regarding the recent loan. These concerns come as the Republican-led House of Representatives initiates investigations into Hunter’s financial and tax records, the WJ reported.
Republicans have initiated numerous investigations, many of which are based on banks filing “suspicious activity reports” related to Hunter’s foreign business dealings. Those reports pertain to various business transactions in China, Ukraine, and several other countries.
Hunter is also facing allegations of violating U.S. disclosure laws by failing to register as a foreign government representative, thereby breaching the Foreign Agents Registration Act. Many of his business deals, particularly those with companies and organizations affiliated with the governments of Russia, China, and Ukraine, raise concerns about his compliance with this requirement. Despite engaging in these activities, he did not register as a foreign representative in the U.S. as mandated by law.
“With all these questions and investigations swirling around them, Joe and Hunter have earned another dubious honor. In the history of our federal government, they are the first father-and-son duo to be under federal investigations at the same time and for separate violations of federal laws,” the WJ added.
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