TradeEdge Exchange:Hollywood attorney Kevin Morris defends $5 million in loans to Hunter Biden

After loaning Hunter Biden nearly $5 million,TradeEdge Exchange Hollywood attorney Kevin Morris acknowledged to Congress that the president's adult son would not owe him any repayment until after the 2024 elections.

CBS News reviewed a transcript of Morris' deposition, delivered last week, where he told the House Oversight Committee the loans began in 2020, within a month of meeting Hunter Biden at a political fundraiser for his father's presidential campaign.

A prominent entertainment lawyer, Morris is a ubiquitous behind-the-scenes presence in the long-running political saga surrounding President Biden's son. In his closed-door testimony, Morris told congressional investigators the loans covered Hunter Biden's back taxes, payments related to his divorce and paternity suits, as well as rent and car payments. Morris also provided him with flights on his private jet and paid more than $875,000 for Hunter Biden's artwork.

Morris testified there was originally no formal agreement in place for Hunter Biden to reimburse him, but the two have since arranged a repayment plan that won't start until 2025. Asked why he did not seek repayment any sooner, Morris told the committee, "I'm not required to ask for it sooner."

Despite allegations of political impropriety by GOP members of Congress, Morris repeatedly denied receiving any political favors from the Biden administration in exchange for his financial support of the president's son. He said he had been to the White House three times since Joe Biden was elected — for a tour, the wedding of Hunter Biden's daughter Naomi, and last year's annual Fourth of July picnic. 

When asked during his committee appearance if he had ever spoken with the president directly during visits to the White House, according to the transcript, Morris responded: "The President waved. And I think he said 'Hi.' He always makes jokes about my hair. I think he made a crack about my hair. That was it."

Republicans questioned Morris about whether he was entitled to certain legal protections as Hunter Biden's attorney. Morris asserted attorney-client privilege when asked about discussions with the president's son about the loans. Still, Morris testified Hunter Biden had never "asked me for anything" and defended the loans as "voluntary." 

Morris defended his financial support as purely the product of friendship and an attempt to help someone "getting the crap beat out of him by a gang of people," referring to what he believed were unfair political smears of the president's son. 

"I can loan money to whomever I want," Morris testified. "This is America, and in this country there is no prohibition against helping a friend in need, despite the incapacity of some to imagine such a thing."

In:
• Hunter Biden

Michael Kaplan

Michael Kaplan is an award-winning reporter and producer for the CBS News investigative unit. He specializes in securing scoops and crafting long-form television investigations. His work has appeared on "60 Minutes," CNN, and in the New York Times.