James Biden, brother of President Biden, testified before the House Oversight and Judiciary Committees on Wednesday, stating that his brother has never had any financial involvement in his business ventures. James Biden emphasized his 50-year career in various business ventures and made it clear that President Biden had no direct or indirect financial interest in his activities.

During the closed-door deposition, James Biden defended the president's integrity and his own ethics, asserting that their personal and professional lives have always been kept separate. He denied any attempts to use his connection to the president for business gain, stating that he has solely relied on his own abilities and relationships in his ventures.

James Biden further addressed his involvement with Chinese energy company CEFC and healthcare company Americore, confirming that his brother played no role and received no benefits from these collaborations. He acknowledged working with Hunter Biden and other associates on a joint venture with CEFC but stressed that the project was transparent and not intended to benefit the president in any way.

In the ongoing investigation into Biden family businesses, it was revealed that significant payments were made to Biden family members and their associates from individuals and companies in China, Russia, Ukraine, Kazakhstan, and Romania. The committee uncovered that over $24 million was received between 2014 and 2019 by leveraging Joe Biden's name as a brand worldwide.

Of particular focus was a $200,000 loan repayment made by James Biden to President Biden from his personal bank account, which originally came from distress company, Americore. The transaction raised questions about the financial dealings within the Biden family and was highlighted during the testimony before the committees.

James Biden's testimony aimed to dispel negative assumptions about his relationship with his brother and to clarify the nature of their business engagements. The investigation continues to uncover details regarding the financial transactions involving the Biden family and their associates in various countries.