Chairmen Jordan and Comer Demand Transcribed Interview with Biden Family Business Associate Michael Lewitt
WASHINGTON, D.C. – Today, House Judiciary Committee Chairman Jim Jordan (R-OH) and House Oversight and Accountability Chairman James Comer (R-KY) sent a letter to Michael Lewitt, a Biden family business associate, demanding he appear for a transcribed interview before the Committees as part of the House's impeachment inquiry. The Committees are seeking information Lewitt possess regarding his business dealings with both Americore and James Biden, including, but not limited to, the "loans" that James Biden received from the financially struggling company.
Excerpts of the Letter to Michael Lewitt:
"As part of the impeachment inquiry, the Oversight Committee obtained bank records related to President Biden’s brother and sister-in-law, James and Sara Biden, and an entity associated with them. According to these bank records, Joe Biden received a $200,000 check from James Biden dated March 1, 2018. James Biden issued the check to Joe Biden from his personal bank account on the same day he received a $200,000 wire from Americore Health, LLC (Americore). Americore is a company that operates rural hospitals and was involved in bankruptcy proceedings. On December 31, 2019, Americore filed for bankruptcy.
"The U.S. Trustee for Americore's bankruptcy proceedings, Carol Fox, filed a lawsuit against James Biden, alleging he made 'representations that his last name, "Biden," could "open doors" and that he could obtain a large investment from the Middle East based on his political connections.' According to the lawsuit—and corroborated by bank records reviewed by the Oversight Committee—Americore transmitted $600,000 to James and Sara Bidens' personal bank accounts. Americore first transmitted $400,000 to James Biden on January 12, 2018 and then transmitted $200,000 to James Biden on March 1, 2018. Americore referenced the transfers as 'loan[s].' Furthermore, the suit alleges James Biden helped to procure 'an ill-advised bridge loan from a hedge fund that had a deleterious impact on the financial affairs of [Americore] and ultimately forced [Americore] into bankruptcy, as [James Biden] never delivered the promised large investment from the Middle East.' The lawsuit demanded that James Biden repay Americore the $600,000.
"Recently, Ms. Fox provided testimony confirming this information. According to Ms. Fox, she was unable to identify any 'services James Biden provided to Americore,' yet he pocketed $600,000, which was identified as a loan. Ms. Fox also testified that the source of the March 2018 check for $200,000 that 'James Biden ultimately paid to [Joe Biden] could have come from two possible sources: predatory loans or senior citizens' money fraudulently invested by James Biden's business partner, Michael Lewitt.' According to public reporting, you were 'the manager of the Third Friday Total Return Fund,' and Third Friday was 'the largest crediting firm for Americore while it was in operation.'
"On September 29, 2023, the U.S. Securities and Exchange Commission (SEC) filed a complaint against you and your investment advisory firm, Third Friday Management, LLC (Third Friday Management). The complaint alleged misrepresentations and omissions regarding a material change in the investment strategy of the Third Friday Total Return Fund, L.P. (Third Friday Fund). The SEC complaint further stated:
"[I]n January 2018 Third Friday suddenly changed course without disclosing to investors, many of whom were elderly, that it had begun making loans to a distressed (now bankrupt) company that acquired and operated struggling rural hospitals. As alleged, between January 2018 and November 2019, the Fund made 45 separate loan advances totaling more than $19 million to that company. The complaint further alleges that from January 2018 through March 2020, Third Friday and Lewitt made material misrepresentations and omissions, and failed to disclose the change in investment strategy and value of investments, Lewitt's conflict of interest, and related risks to investors and prospective investors. As alleged in the complaint, Lewitt, with sole authority over the Fund, also misappropriated at least $4.7 million from the Fund for his personal use.
"Given the above, the Committees are interested in your involvement with Americore and your relationship with James Biden. In particular, the Committees seek information you possess regarding your business dealings with both Americore and James Biden, including, but not limited to, the 'loans' that James Biden received from the financially struggling company."
Read the full letter to Michael Lewitt here.