Hunter Biden’s proposed plea deal on two misdemeanor tax charges shows the president’s son earned millions from foreign sources in 2017.
During calendar year 2017 — one of the years Hunter Biden is charged with failing to pay taxes in their entirety — the president’s son earned “just under $1 million from a company he formed with the CEO of a Chinese business conglomerate; $666,666 from his domestic business interests; approximately $664,000 from a Chinese infrastructure investment company; $500,000 in director’s fees from a Ukrainian energy company; $70,000 relating to a Romanian business; and $48,000 from the multi-national law firm,” the memorandum of the plea agreement read, Politico first reported Wednesday.
“He further negotiated and executed contracts for business and legal services that paid millions of dollars of compensation to him and/or his domestic corporations, Owasco, PC and Owasco, LLC,” the plea deal stated.
Hunter Biden’s overseas business dealings are being investigated by the House Oversight Committee, and President Joe Biden has been questioned repeatedly about the extent to which he was involved in his son’s business affairs.
House Oversight released a report in May alleging members of the Biden family received $10 million from foreign sources, including from China and Romania, while Joe Biden was vice president.
The president and his administration have repeatedly denied Joe Biden was involved in his son’s business dealings. Joe Biden said in 2019 he has never “spoken” to Hunter Biden about his business affairs, and the White House has stated repeatedly since June that the president was never “in business” with his son.
Hunter Biden served on the board of Ukrainian energy company Burisma from 2014 to 2019, was a founding partner of Chinese investment company BHR Partners, worked as a consultant at CEFC China Energy and did legal work for Romanian oligarch Gabriel Popoviciu.
In June and May, two IRS whistleblowers testified before the House Ways and Means Committee that the IRS investigation into Hunter Biden’s taxes was slow-walked by the DOJ.
“Back in 2002, he filed his Form 1040 late-filing and owing over $100,000 in taxes; 2003, owed more than $100,000 dollars in taxes; 2004, late-filed and owed more than $20,000 in taxes; and then 2005, late filed his personal return and owed over $100,000 in taxes,” the whistleblower testified.
Biden’s legal team attempted to enter into a plea agreement with the Department of Justice (DOJ) on two misdemeanor tax charges for 2017 and 2018 on Wednesday. The deal included Biden pleading guilty to the misdemeanor tax charges in exchange for avoiding jail time on a separate charge for illegally possessing a gun. The judge overseeing the case refused to accept the initial plea deal due to the lack of clarity on what the DOJ could charge Biden on in the future, including the Foreign Agents Registration Act (FARA).
The legal teams conferred and came back with a more narrow scope of what the plea deal would encompass, limiting it to the tax and gun charges. The judge refused to accept the deal and requested more briefs, and Biden changed his plea to not guilty.
White House correspondent.
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