Sunday, May 26, 2024

Hunter Biden the President’s Son: Faces Years in Prison for Tax Evasion of $1.4 Million

HomeU.S.Hunter Biden the President’s Son: Faces Years in Prison for Tax Evasion...

Hunter Biden, the 53-year old son of President Joe Biden, was indicted by the Department of Justice (DOJ) on Thursday on charges of tax evasion and spending over $1 million on luxury items while failing to pay taxes owed over a four-year period. He now faces up to 17 years in federal prison if convicted on three felony counts and six misdemeanor counts.

The charges allege that Hunter Biden engaged in an elaborate and prolonged scheme to avoid paying federal income taxes on over $7 million earned through various business dealings and work between 2016 and October 2020. This included money he made serving on the board of the Ukrainian energy company Burisma and doing deal-making work for Chinese firms.

Hunter Earned Millions While Avoiding Taxes

According to the detailed indictment filed in federal court in Los Angeles, in just 2018 alone, Hunter Biden raked in over $1.8 million from his foreign business arrangements and other work.

The filing states that this income included:

  • Nearly $2.3 million serving on the board of Burisma between 2016-2019
  • Fees from “deal-making with the Chinese private equity fund”
  • Earnings from his work as a lawyer
  • Income from other unspecified sources
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However, while the money flowed in and his income soared during those years, Hunter Biden allegedly failed to pay almost $1.4 million in federal income taxes owed to the Internal Revenue Service (IRS).

Instead of fulfilling his legal obligations to pay taxes, the DOJ said that he “spent more than $1.8 million, including approximately $772,000 in cash withdrawals, approximately $383,000 in payments to women, approximately $151,000 in clothing and accessories”.

Lavish Lifestyle Fueled by Unpaid Taxes

Essentially, Hunter Biden stands accused of living a life of luxury – spending money on “drugs, escorts and girlfriends, luxury hotels and rental properties, exotic cars, clothing and other items of a personal nature” – while failing to pay the taxes owed on the millions of dollars flooding his bank accounts.

Federal prosecutors did not mince words about his actions, stating plainly: “The Defendant did not use any of these funds to pay his taxes in 2018.”

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The indictment covers tax years 2016 to 2019, years when by his own admission and statements released by his lawyer, Hunter Biden “earned handsomely”.

Yet instead of paying his fair share in taxes during those profitable years, the charges allege that he engaged in an intentional, years-long scheme of tax fraud by simply spending the money on himself.

Maximum Penalties and “Special Treatment” Claims

As a result of the brazen tax crimes Hunter Biden now stands accused of, he faces over 15 years behind bars if found guilty – with potential sentences of up to 3 years for the felony charges and 1 year for each misdemeanor.

The hefty possible prison term stands in contrast to a previous plea deal Hunter attempted to strike which could have allowed him to avoid serving jail time.

That proposed agreement drew criticism with claims that Hunter received special treatment due to his father’s position. The deal ultimately collapsed over questions about its scope and legality, setting the stage for Thursday’s sweeping indictment.

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Ongoing Federal Probe into President’s Son

The DOJ was clear that its investigation into Hunter Biden remains “ongoing”, meaning he may face additional charges as the probe continues under U.S. Special Counsel David Weiss.

Weiss was the federal prosecutor appointed by the Trump administration who brought the recent charges in Delaware against Hunter related to him allegedly lying on a gun purchase form about his drug use.

Attorney General Merrick Garland later named Weiss as special counsel to lead the ongoing investigation into Hunter and his tangled business and tax dealings.

The federal government’s pursuit of criminal charges signals that Biden remains firmly in the crosshairs of that probe – one that could cause ongoing headaches for his father’s presidency heading into an already turbulent election year.

It also presents a stark downfall for the son of the president who earned vast sums globe-trotting and trading on his prominent name, only to now face a lengthy stay behind bars accused of deceit, fraud and greed by the very government his father leads.

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Mezhar Alee
Mezhar Alee
Mezhar Alee is a prolific author who provides commentary and analysis on business, finance, politics, sports, and current events on his website Opportuneist. With over a decade of experience in journalism and blogging, Mezhar aims to deliver well-researched insights and thought-provoking perspectives on important local and global issues in society.

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