Hunter Biden recently stated in a deposition transcript that his family is experiencing financial difficulties and that he is overwhelmed by legal fees. This testimony is part of an ongoing lawsuit involving Biden and the firm Winston Taylor, which is pursuing unpaid legal bills.
Winston Taylor, known for its representation of leading Democrats, asserts that Hunter Biden owes $17 million for services in criminal prosecutions, congressional inquiries, and defamation lawsuits. According to the transcript, Biden remarked, “My family doesn’t have any money, and it’s not their debt anyway.” He mentioned owning nothing of value except his own paintings, uncertain of their worth, and having no other assets such as stocks, bonds, or savings accounts.
Biden: “I don’t own anything of any value other than my paintings which I painted myself. So that’s it. And I don’t even have any other assets at all, stocks, bonds, anything like that, savings accounts.”
Reports have echoed Biden’s financial concerns. The Wall Street Journal indicated that former President Joe Biden struggles to monetize his post-presidency as effectively as his predecessors, facing $800,000 in personal debt compounded by high property taxes on his Delaware home. Additionally, the former president reportedly finds it challenging to secure paid speaking engagements, partly due to unpopularity and concerns about upsetting former President Donald Trump.
However, Joe Biden receives over $400,000 annually from government pensions based on his service in Congress and the White House, according to the National Taxpayers Union Foundation.
Hunter Biden’s financial claims follow a period marked by lavish spending and substance abuse. Reports suggest he spent large amounts on drugs, alcohol, luxury hotel accommodations, prostitutes, and expensive jewelry for his brother’s widow with whom he had a relationship. This could partly explain the depletion of funds he once had from selling paintings and earning a substantial salary at Ukrainian energy firm Burisma.
Biden: “I don’t have any assets. I don’t own a car. I don’t own a phone.”
Stating his lack of assets, Biden noted in the February deposition, recently disclosed by his new lawyers, that he once enjoyed significant income from various ventures. Biden contends that when Winston Taylor agreed to represent him, the firm knew of his inability to pay, allegedly with an understanding to “work something out.” The firm attempted to connect him with Democratic donors to address his legal expenses.
In July, Hunter Biden saw a modest legal win when awarded $1.7 million in a defamation case. However, Winston Taylor is trying to place a lien on this judgment. Collection remains uncertain with Patrick Byrne, the losing party and Overstock CEO, reportedly overseas.
Requests for comment from Hunter Biden and former President Joe Biden went unanswered when approached by Fox News Digital.
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