Hunter Biden Under Investigation for Tax Fraud
President-elect Joe Biden’s son Hunter received a subpoena this month related to the Justice Department’s investigation into his tax dealings. This included his suspicious business transactions with Chinese nationals.
According to an October 2018 email from his CPA, Hunter and his law firm Owasco owed the IRS more than $800,000.
The email was found on a laptop that Hunter is said to have abandoned at a repair shop in Delaware (read more here).
Until March 2020, Hunter and his ex-wife, Kathleen Buhle, had an IRS lien against them for unpaid taxes and penalties totaling more than $112,000. Hunter is also under fire for failing to disclose $400,000 in income from Burisma Holdings. That is the Ukrainian energy company for which he worked while his father oversaw foreign policy as Vice President.
“In 2014 you joined the Burisma board and we still need to amend your 2014 tax returns to reflect the unreported Burisma income,” reads an email from Eric Schwerin. Sherwin is a former business partner who did Hunter’s taxes in 2017. The following year, nearly half of the $2.5 billion Hunter raked in went to Rosemont Seneca Bohai. That is a joint venture with a fellow Burisma board member, Devon Archer).
“You didn’t receive this in cash and it is in reality ‘phantom income,’” Schwerin told Hunter. “So, of the approximately $2.5 million in income you never really received almost $1.2 million of it.”
Hunter and Archer allegedly engaged in several financial transactions with Chinese nationals loyal to Beijing. Foremost among these relationships was Ye Jianming, an oil tycoon interested in liquified natural gas projects. Ye supposedly gifted Hunter a diamond while he was visiting China with his father in 2013.
Ye, Chairman of China Energy Fund Co., supposedly funneled up to $100 million to Hunter and his companies through now-defunct investment companies. In 2017, Owasco received $5 million in “consulting fees.”
That same year, Hunter sent $1.3 million to his uncle James and his Lion Hall Group consulting firm in Philadelphia.
Less than two years later, Hunter sent an email from his car begging a friend for money:
“Buddy, do you have cash app to sent me…$100 bucks until wire goes. I have no money for gas and I’m literally stuck at a rest stop on 95 on my way from Boston to DC,” wrote Hunter in March 2019.
The Justice Department launched an investigation into Hunter’s finances in 2018. Hunter claims he was unaware of it until last week.
“I take this matter very seriously but I am confident that a professional and objective review of these matters will demonstrate that I handled my affairs legally and appropriately, including with the benefit of professional tax advisers,” said Hunter.
“My son, my family will not be involved in any business, any enterprise that is in conflict with or appears to be in conflict, where there’s appropriate distance from the presidency and government,” added President-elect Joe Biden.
Author’s Note: None of this comes as a surprise. President-elect Joe Biden has a very irresponsible son. The military kicked him out for using cocaine. On top of that, the Bidens have a long history of profiting from their political connections and sharing those profits with friends and family.
Joe Biden has repeatedly insisted that he knew nothing of his son’s business dealings, though frankly that claim is bullshit. Ironically, the elder Biden will likely nominate the Attorney General who will end up leading the investigation into his son’s finances.