Biden had $5.2 million in unexplained income, an analysis of the president's financial records shows.

Published: April 26, 2022 |

Source: dailymail.co.uk

Joe Biden agreed to pay son Hunter's legal fees for his deal with a Chinese government-controlled company, emails reveal.

The revelation ties the president even closer to Hunter's overseas business dealings – and makes his previous claims that he never discussed them with his son, even less plausible.

Joe was able to pay the bills after earning millions of dollars through his and his wife's companies after he left office as vice president.

But the president's financial filings reveal that he declared almost $7million more income on his tax returns than he did on his government transparency reports, an analysis by DailyMail.com of the president's financial records shows.

Some of that difference can be accounted for with salaries earned by First Lady Jill Biden and other sums not required on his reports – but still leaves $5.2million earned by Joe's company and not listed on his transparency reports.

The 'missing millions' – combined with emails on Hunter's abandoned laptop suggesting Joe would have a 10% share in Hunter's blockbuster deal with the Chinese – raise a troubling question: did Joe Biden receive money from the foreign venture?

Emails reveal Joe Biden agreed to pay Hunter's legal fees for a deal with a Chinese government-controlled company

In January 2019, Hunter's assistant Katie Dodge wrote an email to book-keeper Linda Shapero and Biden aide Richard Ruffner, saying Joe had agreed to pay his hundreds of thousands of dollars of bills

One of the last items on a spreadsheet of Hunter's bills was $28,000 in legal fees for the 'restructuring' of Hunter's joint venture with the Chinese government-controlled Bank of China. The spreadsheet listed the bill as 'Faegre Baker Daniels: BHR Restructuring' costing $28,382 and due 'ASAP'.

In January 2019, Hunter's assistant Katie Dodge wrote an email to book-keeper Linda Shapero and Biden aide Richard Ruffner, saying Joe had agreed to pay his hundreds of thousands of dollars of bills.

The math behind Joe's missing $5.2million

The president's financial filings show that he declared almost $7million more income on his tax returns than he did on his government transparency reports, raising the question: where did the extra cash come from?

Joe Biden's Office of Government Ethics (OGE) filings:

2017 - May 2019 filing:

Jill and Joe Biden income of $8,699,787
Income attributable to Joe Biden’s company CelticCapri Corp: $7,451,727

May 2019 – 2020 filing:

Income of $907,160
CelticCapri Corp income: $613,737

Total: $9,606,947, including $8,065,464 from CelticCapri

Joe Biden’s federal tax returns:

2017 Income of $11,031,309

CelticCapri Corp income: $9,636,690

2018 Income of $4,580,437

CelticCapri Corp income: $3,030,667

2019 Income of $985,233

CelticCapri Corp income: $578,178

Total: $16,596,979, including $13,245,535 from CelticCapri

Tax return versus OGE difference: $6,990,032

Unaccounted-for difference from CelticCapri: $5,180,071

'I spoke with Hunter today regarding his bills. It is my understanding that Hunt's dad will cover these bills in the short-term as Hunter transitions in his career,' Dodge said.

The assistant attached a spreadsheet of bills with the email, totaling $737,130.61.

One of the last items was $28,000 in legal fees for the 'restructuring' of Hunter's joint venture with the government-controlled Bank of China.

The spreadsheet listed the bill as 'Faegre Baker Daniels: BHR Restructuring' costing $28,382 and due 'ASAP'.

BHR ('Bohai Harvest RST') is a private equity firm and one of Hunter's two major Chinese business ventures. The joint venture was co-owned by the state-controlled Bank of China.

Hunter's personal attorney, George Mesires, is a partner at Faegre Baker Daniels, now called Faegre Drinker.

A separate October 2018 invoice from the law firm shows Hunter spent a total $68,933.41 on the 'restructuring' beginning in September 2016.

The same year Joe took on these bills from Hunter, he promised that 'No one in my family will have an office in the White House, will sit in on meetings as if they are a cabinet member, will, in fact, have any business relationship with anyone that relates to a foreign corporation or a foreign country.'

Yet not only did Hunter hold on to his 10% share of BHR through 2021, confirmed by White House press secretary Jen Psaki last February, the emails also indicate Joe knew about it, and even agreed to pay Hunter's legal fees for the firm.

The bills also include $412,309.23 in unpaid taxes dating back to 2015.

The New York Times reported earlier this month that Hunter had taken out a million-dollar loan to pay his delinquent tax bill in an apparent effort to stave off an alleged tax fraud prosecution.

Wisconsin Republican Senator Ron Johnson, who along with Senator Chuck Grassley is investigating Hunter's foreign business deals, said Joe Biden's unaccounted-for millions are 'another disturbing piece of information that raises questions that deserve answers.'

'When will the corporate media start doing their job and ask President Biden these questions?' he said. 'And when will President Biden start being honest with the public? The American people deserve the truth.'

Iowa Republican Grassley told DailyMail.com: 'Evidence of the president's financial and business connections to Hunter continues to grow. It's imperative for the first family to show the American people the transparency that they deserve.'