Newly released Hunter Biden email tells of $400G in unreported Burisma income
The Hunter Biden scandal is expanding and fast. It was just revealed that he did not report “approximately $400,000” in income he collected from his position on the board of Ukrainian natural gas firm Burisma Holdings when he joined in 2014. That is per an attorney for his firm who noted that his tax returns needed to be amended, according to an email that Fox News has uncovered.
This is just one of a number of new emails that have emerged in the last few days that Fox News is exposing. This one is dated Jan. 16, 2017, and details President-elect Joe Biden’s son’s income for the years 2013 through 2015 for tax purposes.
A subpoena issued to Hunter Biden seeks information about his work with Ukrainian energy company Burisma, his dealings in China as well as documents from more than two dozen entities, according to a report on Sunday.
Hunter Biden confirmed last week that he was under federal investigation for his “tax affairs.” He is also being investigated for money laundering. President-elect Joe Biden has been caught up in the scandal as well and is being accused of allegedly lying about knowing Hunter was involved in shady dealings connected to the Chinese Communist Party.
NBC News first reported on the email. It was sent to Hunter Biden from Eric Scherwin, who was the president of Rosemont Seneca. The email was made available by Rudy Giuliani’s attorney Robert Costello. Costello has said he was given a copy of one of Hunter Biden’s hard drives from the owner of a computer repair shop in Delaware.
“In 2014, you joined the Burisma board and we still need to amend your 2014 returns to reflect the unreported Burisma income,” Scherwin wrote to Hunter Biden. “That is approximately $400,000 extra so your income in 2014 was closer to $1,247,328.”
The email stated that in 2013 Hunter Biden’s taxes reported “$833,614 in income,” in 2014 “your taxes reported $847,328 in income. (To be amended at $1,247,328),” and in 2015 reported $2,478,208 in income.” That’s quite a jump in yearly income and would raise a number of red flags.
Scherwin described Hunter Biden’s income in 2013 and 2014 as “normal years” when his income “was based pretty much solely on income from Rosemont Seneca and Boies.”
The email details Hunter Biden’s “increased income in 2015,” noting that he collected “$166,666 from Burnham (for RSA), $216,000 from Boies, $365,403 from Owasco (for RSA), $300,000 one time payment from Eudora (for the 1/3 of CitizensRx).”
“The above represents all the cash you received directly,” Scherwin wrote. “In addition, you reported $1,000,000 of income that all went to RSB and you reported $188,616 in income that also went to RSB.”
Scherwin added: “You didn’t receive this in cash and it is in reality ‘phantom income.’”
There was more from Scherwin: “Since you couldn’t have lived on approximately $550,000 a year, you ‘borrowed’; some money from RSB in advance of payments.”
An email that was sent the next day by Scherwin appears to break down how child support payments would be made.
“As an example, if you were to provide $10,000 in alimony and $10,000 in child support, you would need $30,000 a month in pre-tax income or $360,000 a year,” Schwerin wrote, adding another scenario, including where Hunter Biden could pay “tuition for the girls.”
“Therefore, the above scenario would require you to make $1,080,000 a year,” he wrote. “Anything beyond that would be money for your use.” Scherwin added: “This does NOT include money for back taxes, etc. however.”
Hunter Biden is evidently the subject/target of a grand jury investigation that began in 2018. It is predicated, in part, by Suspicious Activity Reports (SARs) regarding suspicious foreign transactions. The SARs were regarding funds from “China and other foreign nations.”