Hunter Biden, the son of US President Joe Biden, has agreed to plead guilty to three federal charges related to his taxes and foreign business dealings.
The charges include one count of willfully failing to file a foreign bank account report (FBAR), one count of failing to report foreign income, and one count of engaging in a monetary transaction in property derived from specified unlawful activity.
The charges stem from Hunter Biden’s work as a board member of a Ukrainian natural gas company, Burisma Holdings. Biden was paid millions of dollars for his work on the board, but he did not report his income from Burisma on his US tax returns.
Hunter Biden also failed to file FBARs for his foreign bank accounts, which are required for US citizens who have more than $10,000 in foreign accounts.
As part of his plea agreement, Hunter Biden has agreed to pay a fine of $1 million and to forfeit $4.1 million in proceeds from his foreign business dealings. He will also be required to serve two years of probation.
The plea agreement is a significant development in the ongoing investigation into Hunter Biden’s business dealings. It is also a potential political liability for President Biden, who has faced criticism for his son’s business activities.
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SEO Summary:
This article discusses the agreement reached by Hunter Biden to plead guilty to three federal charges related to his taxes and foreign business dealings. The charges stem from Hunter Biden’s work as a board member of a Ukrainian natural gas company, Burisma Holdings.
