JUST IN - Hunter Biden has been indicted by a federal grand jury on 9 counts, including multiple felonies.
Read the indictment charging Hunter Biden with nine federal tax crimes Special Counsel David Weiss brought the indictment in federal court in California. The charges carry a maximum of 17 years in court. First son Hunter Biden, already charged with three gun crimes in Delaware, was indicted Thursday night in federal court in California on three new felonies and six misdemeanors alleging tax evasion. You can read the grand jury indictment secured by Special Counsel David Weiss here. File https://justthenews.com/sites/default/files/2023-12/fb71411f-d611-486d-8d18-9c6f4faad482.pdf
President to nominate David Weiss for US attorney in Delaware
SUMMARY OF INDICTMENT Full indictment
(gpt4)
The document is an indictment from the United States District Court for the Central District of California, filed against Robert Hunter Biden. The indictment outlines several allegations against Biden, primarily focused on tax evasion and financial misconduct over several years.
Key points from the indictment include:
Background of the Defendant: Robert Hunter Biden, educated at Georgetown and Yale, was involved in various roles such as a lawyer, lobbyist, consultant, and businessperson. He was a resident of Los Angeles, California, from April 2018
Income and Business Activities: Between 2016 and 2020, Biden reportedly earned more than $7 million in total gross income. This income included his involvement with a Ukrainian industrial conglomerate, Burisma Holdings Limited, and a Chinese private equity fund. At Burisma, he was initially paid approximately $1 million annually, which was later reduced to $500,000 per year
Alleged Tax Evasion: The indictment alleges that from January 2017 through October 15, 2020, Biden engaged in a scheme to avoid paying at least $1.4 million in self-assessed federal taxes. This included the evasion of tax assessments for 2018 when he filed false tax returns. It's alleged that he diverted funds from his company, Owasco PC, for personal use instead of using them for tax payments, and spent millions on an extravagant lifestyle rather than settling his tax bills
.
Business Arrangements: In one instance, Biden executed an operating agreement for a venture named HWIII, which involved a $5 million initial capital contribution from another entity. He was set to receive a significant monthly compensation and a one-time retainer fee from this arrangement. Furthermore, he received substantial financial support from a personal friend, including payments for his housing and personal expenses
.
Legal Obligations and Tax System: The U.S. tax system, based on self-assessment, requires individuals and corporations to declare and pay taxes on their income. Biden had legal obligations to file and pay taxes, which he allegedly failed to fulfill
.
Financial Management: Biden formed Owasco PC, a C Corporation, to manage the tax withholdings from his income sources. This structure was supposed to facilitate tax payments, but the indictment suggests that he subverted this process for personal gain
.
Legal Complications and Late Filings: In 2019 and early 2020, Biden faced legal challenges in civil lawsuits that required him to produce financial records, including his tax returns. These circumstances ultimately led to the filing of his outstanding tax returns
.
Financial Capability to Pay Taxes: Despite having the funds to pay his taxes in the years 2017, 2018, 2019, and 2020, Biden allegedly chose not to do so. The indictment notes that even when he had substantial funds in his accounts, he did not make payments towards his outstanding tax liabilities
.
Specific Counts of Failure to Pay Taxes: The indictment details specific counts of failure to pay taxes for the years 2016 and 2017. For instance, it is stated that he earned approximately $1,580,283 in gross income in 2016 and had a legal obligation to file a U.S. Individual Income Tax Return for that year by April 18, 2017, or by an extended deadline of October 16, 2017
. Despite having the necessary funds, he chose not to make any payments when he filed his taxes on February 18, 2020
.
The indictment paints a detailed picture of Biden's alleged financial misconduct, focusing on tax evasion, misuse of corporate structures for personal benefit, and failure to comply with legal tax obligations despite having adequate financial resources.
