The New York Post:
President-elect Joe Biden’s son revealed Wednesday that he’s under federal investigation for possible tax fraud, with a report saying the Justice Department is examining his overseas business dealings.
Biden, 50, disclosed the probe in a statement released by his father’s presidential transition office.
“I learned yesterday for the first time that the U.S. Attorney’s Office in Delaware advised my legal counsel, also yesterday, that they are investigating my tax affairs,” Hunter Biden said in a statement.
“I take this matter very seriously but I am confident that a professional and objective review of these matters will demonstrate that I handled my affairs legally and appropriately, including with the benefit of professional tax advisors.”
A statement attributed to “the Biden-Harris Transition” said, “President-elect Biden is deeply proud of his son, who has fought through difficult challenges, including the vicious personal attacks of recent months, only to emerge stronger. “The probe began in 2018, sources told Fox News and CNN.
Investigators are looking into whether Hunter and his business associates violated various tax and money laundering laws, CNN said.
The probe focused on Hunter’s business dealings in China and other countries and invovles transactions with people who raised counterintelligence concerns, CNN said.
The investigation was put on hold during the run-up to the November election due to Justice Department guidelines that prohibit activity that could influence a political race, CNN said.
But it’s since resumed and is entering a new phase, with the FBI and IRS issuing subpoenas and seeking interviews, CNN said.
In September, Republican senators released a report on Hunter’s business affairs that said he “and his family were involved in a vast financial network that connected them to foreign nationals and foreign governments across the globe.”
Some of those ties “raise criminal financial, counterintelligence and extortion concerns,” the report said.