James Comer is going to subpoena records from Joe Biden’s LLC “Celtic Capri Corp.” The account shows $10 million dollars received with no explanation where the money came from. His book sold 300,000 copies and he claims he made over 12 million dollars after expenses. That seems odd since that would come out to Joe making $42 dollars a copy, which is more than the book sold for. Talk about your fuzzy math. Something just doesn’t add up.
From The Federalist in 2022:
In the week prior to the presidential election, I wrote a piece that asked the question, “Where Is Hunter Biden’s Money?” It was an important question then, even more so now. Given the legacy media’s recent validation of Hunter’s laptop that discussed a slice of equity planned for the “Big Guy” in a deal that involved an entity controlled by the Chinese Communist Party (CCP), we should know if any money from it (or other foreign sources) ended up in Joe Biden’s pocket, but we don’t.
Recall that despite then-presidential candidate Biden having bragged that he had released his tax returns with what his team called “a historic level of transparency,” the truth is that he only released his individual returns. Those returns provided no detail regarding the source of most of his income, dollars that flowed to him and his wife Jill by way of S-corporations they set up shortly after his departure from the office of vice president. Those entities, CelticCapri Corp (his) and Giacoppa Corp (hers), contained more than $13 million of the $17 million the couple had reported in income after Biden left office, most of it in the first year (2017).
That time frame coincides with the same period in which he is alleged to have received a $5 million dollar bribe from the owner of Burisma. That seems pretty coincidental in itself. Joe Biden claimed he released the most transparent tax returns in history, but for some strange reason those returns do not include where the money came from.
Comer told Fox News:
“The money they refer to was funneled through the CelticCapri LLC, Joe Biden’s LLC that he supposedly used to receive speaking fees and sell his book. His speaking fees and books don’t add up to what the total was he disclosed on taxes.”
“So that’s an LLC account. It wasn’t a shell company — that was a real LLC account with more earnings in there than what we can find. So that is an account we plan to subpoena as we follow the money.”
Cruz demanded Joe Biden divulge the “mystery source”:
So, let’s take Joe’s numbers. He’s claiming that Joe netted $12.2 million for a book deal. His book deal sold about 300,000 copies. Now, the $12 million, $4.2 million of that is allegedly from speaking, and I can believe that he probably got pretty good speaking fees, that that’s plausible. That means he’s claiming $8 million of income came from book royalties.
Now let’s do some math. His book had a retail price of $27 for hardcover, $18 for paperback. If you assume a reasonable mix of sales, the average price was $23. On 300,000 books sold, the gross revenue everyone makes is just under $7 million. What Joe is alleging is they paid him $8 million to generate $7 million. The book publisher lost a million dollars and got no money for printing the book. Typically, an author, if you were just receiving a royalty, would have received about 12%. A typical blended royalty, you’d get about 15 percent. For hardcover, about 7.5 percent for paperback is typical. If Joe was receiving 12 percent of $7 million, he would have yielded about $800,000. He’s claiming he got $8 million.
That math doesn’t add up.
Rep. Nancy Mace (R-SC) told Breitbart News:
“The President seems to find selling out our country funny. We don’t. If he’s serious about proving our allegations wrong, he should release his and his family’s unredacted bank records and show the American people where all this money is coming from. The FBI can’t protect him forever.”