Hunter Biden reveals he's under federal investigation for his 'tax affairs,' denies wrongdoing

President-elect Joe Biden's son Hunter is under federal investigation for his "tax affairs," he revealed on Wednesday.

In a statement released by the president-elect's transition team, Hunter Biden said the U.S. Attorney's Office in Delaware on Tuesday advised his legal counsel "that they are investigating my tax affairs."

"I take this matter very seriously but I am confident that a professional and objective review of these matters will demonstrate that I handled my affairs legally and appropriately, including with the benefit of professional tax advisors," Hunter Biden said.

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A statement from the Biden-Harris transition also said the president-elect is "deeply proud of his son, who has fought through difficult challenges, including the vicious personal attacks of recent months, only to emerge stronger."

Further details about the federal investigation weren't provided in the statement. But CNN reports that investigators "have been examining multiple financial issues, including whether Hunter Biden and associates violated tax and money laundering laws in business dealings in foreign countries, principally China." CNN also reports the investigation "began as early as 2018."