Hunter Biden, the son of Democratic Presidential candidate Joe Biden, has recently been indicted on Federal Tax Evasion charges by a Grand Jury in California. The indictment states that Hunter Biden failed to report $156,000 in income earned from a variety of sources, such as investments in foreign businesses and stock trades between 2013 and 2018.
The charges were filed in the Federal court in Fresno, California and includes an allegation that Biden “willfully failed to file a federal income tax return.” The charges carry a maximum sentence of five year in prison and a $250,000 fine.
Biden had been under investigation for months prior to the announcement of his indictment. He had been connected to financial dealings with the Ukrainian natural gas company, Burisma, as well as his foreign business activities and investments.
According to the indictment, Biden made millions in unreported income during the five year period in question. He is also accused of failing to report income from investments which he failed to “timely file”, as well as “transferring and loaning of funds which should have been included in his Federal income taxes.”
The Biden campaign responded to the charges, stating that “Hunter strongly denies that he followed any tax laws. He paid millions of dollars in taxes.” However, the indictment states that Biden failed to report the full amount of taxable income.
The indictment is a serious blow to the Biden campaign, which had sought to distance itself from any investigations related to Hunter. The timing of the charges, just weeks before the election, gives rise to speculation that the Trump administration is trying to score political points.
Regardless of the motive behind the indictment, the charges are real and the outcome could be serious. It remains to be seen how this development will affect Biden’s bid for the White House.