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Tipsheet

We Now Know How Much Money Biden Took Out Last December

AP Photo/Evan Vucci

Did Joe Biden know trouble legal waters were ahead? Based on his financial records, he was at least preparing for private counsel because he took out a significant line of credit in December. It so happens that this transaction occurred last December, as the tax evasion probe into his son, Hunter, was ongoing, and FBI agents had already searched his offices at UPenn and found classified materials the previous month. In a moment of rare cognitive function, the president probably figured that more would follow, and he should prepare the lawyers for both fronts. It’s no small loan either—It totaled some $250,000 against his home in Rehoboth, Delaware, a recent site for federal authorities scouring the premises for sensitive files. Unlike Trump, this was no raid. With Trump, the Justice Department acted like hell on wheels to ransack his home while they’re dragging its feet with Biden. There is a trove of files housed at the University of Delaware—when will that be reviewed (via Fox News): 

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President Biden secured a $250,000 line of credit against his Rehoboth Beach, Delaware, home as his son, Hunter Biden, faces an investigation into his tax affairs and amid his own classified documents scandal, records obtained by Fox News Digital shows.

Biden acquired the six-figure home equity variable rate line of credit from M&T Bank on Dec. 5, 2022, Sussex County filings show. Biden and his wife, first lady Jill Biden, initially purchased the residence in 2017 for $2.74 million, according to county records. 

It is unclear why Biden quietly secured the line of credit, which allows him to borrow up to a quarter of a million dollars against his home's equity, and the White House did not respond to a Fox News Digital inquiry on the matter. 

The financial move came as Hunter Biden is embroiled in a federal investigation and the discovery of President Biden's classified documents from his time as vice president was underway. 

Hunter Biden has been under federal investigation since 2018 for his tax affairs – an investigation that was predicated, in part, by suspicious activity reports (SARs) regarding some foreign transactions. Those SARs, according to sources familiar with the investigation, involved funds from "China and other foreign nations." 

The investigation into Hunter is ongoing, though fraught with problems, namely that it's understaffed and funded. And yet, they might have analyzed enough evidence, of which there are mountains of due to his laptop being made public, to bring forward charges. This investigation hasn’t been dismissed. And with Biden engulfed in a classified document fiasco of his doing, his legal team is probably preparing for the worst on either end.

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Biden’s legal team is another issue as the chain of custody regarding the recovered classified documents at the many locations Joe left them unsecured is an absolute nightmare. Right now, the Department of Justice and the special counsel are taking the word of the president’s private lawyers on the matter. There could be more missing documents.

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