Hunter Biden, son of former Vice President Joe Biden, acknowledged publicly on Wednesday that federal investigators are looking into his taxes and his financial dealings in China to see if any of it violated laws against money laundering.
"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," the younger Biden said. "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 advisers."
Joe Biden's transition team also issued a statement of support, saying that Biden was "deeply proud" of his son.
Hunter Biden's financial dealings were referenced multiple times by President Trump's campaign in the days preceding the 2020 election, but received little scrutiny from most media outlets.
The reason the investigation is just now ramping up is largely due to Justice Department guidelines that prohibit such inquiries that might have a significant impact on election results.
Hunter Biden and his ex-wife Kathleen Buhle have had tax liens placed on them for money owed towards unpaid taxes. It is not clear if the current case has anything to do with those circumstances or not.
One issue that seems to be part of the investigation includes a 2.8 carat diamond that Hunter received from the former chairman of the CEFC China Energy company. Hunter says after receiving it in 2017, he gave it away and now has no knowledge of what happened to it.