President Joe Biden acquired his luxurious beach house in Rehoboth Beach, Delaware, for a total of $2.75 million in cash. The purchase took place shortly after his vice presidency ended in June 2017. However, recent revelations have raised concerns about the source of the funds used for this acquisition.
Republicans are actively investigating potential business connections between President Biden and his son Hunter, adding to the scrutiny. The circumstances surrounding this real estate purchase are drawing attention. President Biden, who had a long history of public service, acquired the property using cash, which amounts to slightly under $2.75 million.
What adds to the intrigue is that this purchase happened within weeks of an alarming text message sent by Hunter Biden to Runlong “Raymond” Zhao. Zhao is associated with the Chinese Communist Party-controlled oil company, CEFC. In the text, Hunter Biden made reference to “my father” and pressured Zhao to finalize a $10 million per year deal. Following the transmission of this text message, Hunter Biden received over $5 million from Chinese sources.
This information raises significant questions about the funding of President Biden’s beach house and adds to ongoing discussions about his family’s business dealings.
“I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled,” Hunter wrote Zhao on WhatsApp on July 30, 2017.
He then appears to threaten Zhao, whom he calls Z.
“Tell the director that I would like to resolve this now before it gets out of hand,” he writes at 9.45 a.m.
“And now means tonight,” he adds, apparently referring to time in Beijing, which is 12 hours ahead.
“And Z if I get a call or text from anyone involved in this other than you, Zhang or the chairman I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction.”
He signs off by emphasizing: “Ok my friend – I am sitting here waiting for the call with my father.
“I sure hope whatever it is you are doing is very, very, very important.”
There is currently no concrete evidence confirming that Joe Biden was physically present with his son during this incident.
Nevertheless, metadata extracted from photos sourced from Hunter’s well-known abandoned laptop suggests that he was at his father’s primary residence, the Wilmington mansion, on the day when the text message was transmitted.
James Comer, who serves as the chairman of the House Oversight Committee and is actively involved in the campaign for President Biden’s impeachment, has expressed concerns about the cash purchase of the house, considering it to be suspicious.
“The fact that Joe Biden purchased a luxurious beach house around the same time his family was receiving millions from a CCP-linked company raises many questions that need to be answered,” Comer told the Mail.
“The House Oversight Committee will continue to follow the money trail to determine the extent of President Biden’s involvement in his family’s influence-peddling schemes and its impact on our national security,” Comer added.
Senator Ron Johnson, who, alongside Senator Chuck Grassley, conducted extensive investigations into Hunter Biden’s questionable foreign business dealings, emphasized the importance of obtaining all the financial records pertaining to the Bidens when discussing this transaction.
“The corruption of the Biden crime family has been obvious for years,” he claimed in a statement.
“This is just another piece of evidence that will probably be ignored once again by most of the mainstream media.
“It also underscores the imperative of obtaining all the bank records from all the Bidens who have benefited from Joe and Hunter’s grifts.”
The White House has refuted any claims of the President being involved in business with his son. However, they no longer deny discussing Hunter’s foreign dealings.
Property records indicate that Joe Biden’s six-bedroom second property was acquired on June 8, 2017, for $2,744,001, just seven weeks before his son’s controversial messages. No mortgage was associated with the sale, suggesting that Joe Biden paid for the property entirely in cash. The Sussex County recorder’s office lacks records of a mortgage on the Rehoboth Beach property until December of the previous year, when Joe and Jill Biden established a $250,000 line of credit secured against the property.
His tax records from that time reveal a significant increase in income compared to his time as vice president. Most of this income stemmed from the sale of his memoir, “Promise Me, Dad,” and well-paid speaking engagements for both him and First Lady Jill Biden. In 2017, the year after Joe Biden left his vice presidential post, the couple declared an income of $11 million, followed by $4.58 million in 2018.
At the time of the Rehoboth house purchase, a local news site, Delaware Online, reported that it had been financed “using part of their advance from a multi-book deal.” However, even if the funds for the home came from the $11 million earned by Joe and Jill Biden that year, based on their tax filings, significant disparities remain in the President’s financial disclosures, which lack clarification.
An analysis published last year highlights a $5.2 million discrepancy between his IRS filings and his Office of Government Ethics disclosures for the same period. From 2017 to 2019, Joe and First Lady Jill Biden reported $16.5 million in gross income on their federal tax returns. The majority was attributed to their two firms, CelticCapri Corp and Giacoppa Corp, utilized for speaking and writing engagements. In OGE filings for the same duration, Joe Biden reported only $9.6 million in income for himself and his wife.
While Joe was obligated to submit OGE reports during his vice presidency and following his presidential candidacy declaration in 2019, there is still a considerable unexplained gap of about $7 million. Part of this discrepancy arises from Jill Biden’s wages from her teaching job at Northern Virginia Community College and a salary paid from Giacoppa, which did not necessitate reporting to the OGE.
The comparison of the income reported by Joe from his CelticCapri company in OGE reports versus what was reported to the IRS indicates a difference of nearly $5,180,071 that remains unaccounted for.
Remarkably, this figure closely corresponds to the alleged $5 million that Joe Biden was reported to have received as a bribe from Mykola Zlochevsky, the owner of Ukrainian gas firm Burisma. This information came from a trusted FBI informant, and in a 2020 account of an agent’s interview with this informant, it was claimed that Zlochevsky boasted about channeling $5 million each to Hunter and Joe through a complex network of offshore accounts during a meeting in 2016. Hunter was serving on the Burisma board at the time.
