🧠 Watchlist Winners: Copy Legendary Investors' Portfolios in One ClickCOPY FOR FREE

Hunter Biden pleads guilty in federal tax case

Published 06/09/2024, 01:55 am
Updated 06/09/2024, 08:25 am
© Reuters. FILE PHOTO: Hunter Biden, son of U.S. President Joe Biden, walks outside the federal court as his trial on criminal gun charges continues, in Wilmington, Delaware, U.S., June 11, 2024. REUTERS/Hannah Beier/File Photo
NG
-

By Jackie Luna

LOS ANGELES (Reuters) -Hunter Biden, son of U.S. President Joe Biden, pleaded guilty to federal tax charges on Thursday, a surprise move that avoids a potentially embarrassing trial weeks before the U.S. presidential election.

Biden had been set to stand trial in a Los Angeles federal courthouse on criminal charges of failing to pay $1.4 million in taxes while spending lavishly on drugs, sex workers and luxury items.

Instead, he pleaded guilty to all nine counts he faced.

Judge Mark Scarsi told Biden he faces up to 17 years in prison and up to $450,000 in penalties. He set sentencing for Dec. 16.

Defendants who plead guilty in criminal cases typically work out an agreement with prosecutors beforehand, hoping to receive a lower sentence in exchange for avoiding trial.

That did not appear to be the case here.

Earlier in the day, Biden had offered to plead guilty to the charges but avoid admitting wrongdoing, an unusual legal maneuver called an "Alford plea." Prosecutors opposed that move.

After a break, Biden's lawyer Abbe Lowell told the judge that he would plead guilty, despite having no prior agreement with prosecutors that would ease his sentence.

In a statement after the hearing, Biden said he pleaded guilty to spare his family from having to sit through a trial that would have aired messy details from a period of his life where he was suffering from drug addiction. "For all I have put them through over the years, I can spare them this," he said. He added that he had paid back his taxes.

Lowell told reporters afterward that Biden might appeal his sentence. He did not answer when asked why Biden waited until the trial's opening day to plead guilty.

The guilty plea heads off a weeks-long trial that would have taken place at the height of the election campaign. Voters will choose on Nov. 5 between Vice President Kamala Harris, a Democrat, and Republican former President Donald Trump. Joe Biden dropped his re-election bid in July under pressure from his fellow Democrats.

Hunter Biden, who has been open about his struggles with drug and alcohol addiction, is accused of failing to pay taxes from 2016 to 2019 while spending huge sums "on drugs, escorts and girlfriends, luxury hotels and rental properties, exotic cars, clothing, and other items of a personal nature,” according to an indictment.

The trial could also have shed light on his work with Ukrainian natural gas company Burisma and other business dealings while his father was vice president. The president's Republican foes have claimed those activities by his son were corrupt.

The indictment says Hunter Biden "earned handsomely" while serving on the boards of Burisma and a Chinese private equity fund.

Hunter Biden has denied any improper business dealings and Republican-led investigations in Congress have not directly implicated his father in any wrongdoing.

He is appealing a guilty verdict in a separate case in Delaware for illegally buying a gun while using drugs.

© Reuters. Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa leave the federal court building, in Los Angeles, California, U.S. September 5, 2024. REUTERS/Mike Blake

That conviction means he could face a stiffer sentence for the tax case if convicted, because he would be a repeat offender.

The White House has said President Biden has ruled out pardoning his son.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.