In a deposition transcript released recently, Hunter Biden stated that his family is financially struggling and that he is facing significant legal fees. The deposition is part of an ongoing lawsuit between Biden and the law firm Winston Taylor, which claims he owes $17 million for legal representation in various matters, including criminal prosecutions and congressional investigations. Biden claimed, "My family doesn't have any money, and it's not their debt anyway," and mentioned that he does not possess any valuable assets except for his paintings.
Reports indicate that former President Joe Biden is also experiencing financial challenges, having accrued approximately $800,000 in personal debt after leaving office and facing difficulties in securing paid speaking engagements. Despite these challenges, he receives over $400,000 annually from government pensions. Hunter Biden's financial claims come amid a history of personal struggles, including substance abuse and extravagant spending.
In the deposition, Biden asserted that Winston Taylor was aware of his financial situation when they agreed to represent him and that they had discussed potential arrangements for his legal fees. The law firm has attempted to connect him with donors to assist with these costs. Additionally, Biden recently won a $1.7 million judgment in a defamation suit, but the law firm is seeking a lien on that judgment, complicating collection efforts.