For two years, as Hunter Biden slid deep into substance abuse and prostitutes, he raked in $4 million from a Chinese private equity firm, a Ukrainian energy company, and other sources, according to a proposed plea agreement to federal tax charges, Bloomberg reports.
The agreement, made public Wednesday after US District Judge Maryellen Noreika ordered it unsealed following media requests, would see Hunter Biden plead guilty to misdemeanor charges, serve no jail time, and gave the First Son de facto immunity from prosecution for future crimes outside the scope of the current cases.
An exhibit incorporated into the agreement between Biden and federal prosecutors in Delaware sets out in some detail his earnings in 2017 and 2018, two years for which he failed to pay income tax. Republicans, who have criticized the proposed plea as a sweetheart deal, have seized upon the millions Hunter Biden made to argue that his father must also have benefited. -Bloomberg
In 2017, Hunter pulled in over $2.3 million – with $1 million of that coming from a company he formed with the CEO of a Chinese conglomerate. He also took in $664,000 from a Chinese infrastructure investment firm, $500,000 from a Ukrainian energy company (we assume to be Burisma), $70,000 from a Romanian business, $48,000 from an international law firm, and $666,000 from domestic business interests.
Biden has admitted ties to Chinese energy company CEFC, Ukrainian energy giant Burisma, and the law firm Boies, Schiller & Flexner.
In 2018, Hunter made over $2.1 million according to the plea deal – which came as his drug addiction went critical. According to Biden’s memoir, cited by the document, that year saw “a spring and summer of nonstop debauchery.”
According to the agreement, Biden was well aware of his tax liabilities from an accountant he hired. The accountant prepared Biden’s returns and sent them to him for review and signature. Despite repeated encouragement by his accountant, Biden never signed or submitted his returns.
According to the agreement, Biden failed to pay his taxes despite having the money to do so. By May 2019, he had spent money he could have used for that purpose “on personal expenses, including large cash withdrawals, payments to or on behalf of his children, credit card balances, and car payments for his Porsche.” -Bloomberg
By October 2021, Biden’s tax liabilities for 2017 and 2018 had grown to $955,800 and $956,632 respectively – and were paid for by an unidentified third party. That personal also covered $45,661 and $197,372 to resolve outstanding tax issues from 2016 and 2019.
Earlier this year, the NYT reported that Hollywood entertainment lawyer Kevin ‘bong rip‘ Morris lent over $2 million to Biden to help with his taxes.
Of note, an IRS whistleblower from the agency’s criminal investigations unit told the House Ways and Means Committee in June that Hunter Biden illegally deducted tens of thousands of dollars spent on prostitutes and a sex club from his taxes, according to testimony from June 1 which was released by House Republicans.
“So some of the items that he deducted were personal no-show employees. He deducted payments that were made to who he called his West Coast assistant, but she was essentially a prostitute,” said the whistleblower, who worked directly on the IRS’s investigation into Hunter’s tax issues, speaking of the younger Biden’s 2018 return.
Another whistleblower, IRS supervisory agent Gary Shapely , told the committee on May 26 that he found several instances of Hunter expensing flights for prostitutes.
“There were multiple examples of prostitutes that were ordered basically, and we have all the communications between that where he would pay for these prostitutes, would book them a flight where even the flight ticket showed their name. And then he expensed those,” said Shapely , who noted that they were expensed to Biden’s consulting firm, Owasco, PC.
What’s more, Hunter expensed a deposit for an elite Los Angeles sex club (which he was kicked out of for ‘grabbing women’s asses‘ and ‘acting like a spoiled child’).
“He made payments – there’s an $18,000 wire that is made to one of these individuals, and on the wires they say $8,000 in wage and $10,000 in golf – $10k golf club member deposit. And we know that that $10,000 went to pay for a sex club,” the anonymous IRS investigator testified.
“He went to a sex club, and we’ve talked to the person that owned that sex club, and they confirmed that he was there. And the guy has to pay $10,000, and the girl – whoever is referring him there doesn’t have to pay anything. So that was deducted on the tax return,” he continued.
According to Shapely , on his 2018 return, Hunter paid “one of his girlfriends” and recorded it as a “golf membership.”
“We went out and followed that money, it was for a sex club membership in LA,” said Shapely.