Sources estimate that his legal debt is already in the millions of dollars and will likely grow. Biden, a former investment manager, also lacks a steady source of income after being mired in various scandals. His fledgling career as an artist has only resulted in the sale of about a dozen paintings.
It is unclear who would manage the fund and how it would be operated, the report said. While creating a defense fund is a common move by high-profile figures facing legal cases, disclosures around such funds tend to lack transparency and could introduce issues about donors and their motives, the newspaper noted. There are few federal regulations on legal defense funds for non-politicians and no rules for those of the children of elected officials.
Republicans have zeroed in on the possibility that financial support for Hunter Biden could constitute an in-kind political contribution to US President Joe Biden, meaning funds would need to be reported and subject to restrictions, the report said. House Oversight Committee Chairman Rep. James Comer has already sent a letter to Biden’s gallerist, seeking information about the identities of the buyers of the paintings and the prices paid. The committee also plans to pursue a request for information from one of Biden’s lawyers, Kevin Morris, who has loaned his client money, about his financial support.