Hunter Biden raided his daughter’s college fund to the tune of $20,000 after his bankers said he had just 44 cents left in his account amid a months-long drug and hooker binge.
On Dec. 17, 2018, Hunter’s money managers warned of his extremely low balance, according to records obtained by the Daily Mail. That’s exactly when, according to Hunter’s Memoir, he was in his “penultimate odyssey through full blown addiction,” when he was dropping thousands of dollars on prostitutes and crack cocaine.
In response to the warning, Hunter ordered the bankers to transfer $20,000 from his daughter Maisy’s educational savings account, early withdrawal consequences be damned.
“liquidate what you can’ and ‘Live [love] you both,” Hunter wrote.
At the time, Maisy, now 22, was in her final year of high school. She and her two older sisters, along with Joe Biden and First Lady Jill, had tried to stage an intervention just weeks earlier at the President’s Delaware home to get Hunter to go back to rehab.
He promised to go, but instead ended up smoking crack in a hotel, he confessed in his 2021 memoir, Beautiful Things.
Emails and messages from his laptop show money he took from Maisy’s educational savings account went in part to paying various suspected prostitutes who visited him at hotels in the following days, his Porsche 911 car loan, sex webcam subscription fees, and other personal expenses.
Hunter’s assistant Katie Dodge plaintively emailed him on December 28 that year that he had University of Pennsylvania tuition bills of $27,945 due (likely for his eldest daughter, Naomi), a $1,700 payment for his Porsche, $4,244.70 for Maisy’s high school Sidwell Friends, her $3,000 paycheck and $1,000 for another employee.
Hunter tersely told Dodge to pay for the Porsche and his health insurance, but that she would only be getting half her paycheck – and that he would ‘deal with tuitions when time comes.’ -Daily Mail
“If you haven’t noticed Katie my business partner is now a prisoner on death row in China,” Hunter barked at Dodge, referring to CEFC chairman Ye Jinanmang, his Chinese partner who had been arrested on corruption charges in Beijing that year.
According to IRS Criminal Investigation agent Joseph Ziegler, an investigation into Hunter’s financial dealings was stonewalled before he blew the whistle to Congress – where he revealed that Hunter ended up looting Maisy’s entire college savings account – and never paid taxes on it.
Ziegler testified that Hunter “failed to report the income related to a distribution he had taken from one his children’s 529 [educational savings] Plan in 2019, additional income of approximately $39,820,” adding “He also had personal distributions he had claimed as business deductions totaling approximately $12,791.
“As of today’s date, this alleged additional income of approximately $52,611 has not been reported to the IRS and the alleged additional taxes of approximately $22,860 has not been paid to the IRS,” Ziegler said in an August 2, 2023 affidavit.
