Finance
The many faces of Kevin Morris, Hunter Biden’s financial patron
“Who was the real me? I can only repeat: I was a man of many faces.”
Those words by author Milan Kundera could well have been written for Kevin Morris, a critical figure in the unfolding Hunter Biden scandal.
Morris was largely unknown to most people until he emerged as the Democratic donor who reportedly paid the president’s son millions to handle his unpaid taxes and maintain his lavish lifestyle. The Hollywood lawyer and producer portrayed himself as a good Samaritan on a biblical scale — a good man who simply found a desperate stranger on the road and gave him more than $5 million.
His counsel, Bryan M. Sullivan, stated that “Hunter is not only a client of Kevin’s, he is his friend and there is no prohibition against helping a friend in need, despite the inability of these Republican chairmen and their allies to imagine such a thing.”
The statement captures the problem for Morris. It is increasingly hard to determine what Morris was at any given moment: Democratic donor, lawyer, friend. Indeed, that is precisely the problem that some of us have raised for months.
Lawyers are not supposed to personally pay the bills of their clients. Specifically, California Bar Rule 1.8.5(a) states that “[a] lawyer shall not directly or indirectly pay or agree to pay, guarantee, or represent that the lawyer or lawyer’s law firm will pay the personal or business expenses of a prospective or existing client.” They are required to maintain clear representational boundaries. This is also now the subject of a new bar complaint filed by a conservative legal group this week.
Friends have described Morris as a “rule-breaker” and admit that his relationship with Hunter raises eyebrows. “Certainly it’s not careful, but he’s a gunslinger,” one told the Los Angeles Times. “This is how he rolls.”
But the legal ethics rules are designed to avoid gunslinging generally and ambiguity specifically.
Hunter calls him both his lawyer and his “brother.” Lead counsel Abbe Lowell observed, “I have never in any of my representations of any other client — other than someone who is an immediate family member of one of my clients — known anyone who is like Kevin.”
When the relationship began, Morris was playing the role of a loyal Democratic donor.
He was introduced to Hunter at a 2019 political fundraiser by another producer and Democratic deep pocket, Lanette Phillips. Soon thereafter, Morris was giving Hunter copious amounts of money and legal advice. That would include reportedly paying off Hunter’s long-delinquent taxes before criminal charges were filed. It also included covering Hunter’s lavish lifestyle.
Morris may be most eager to avoid the label “democratic donor” because these payments could be viewed as an unreported campaign donation. Morris first appeared during Joe Biden’s campaign for president. Then, on Feb. 7, 2020, shortly after the inauguration, Morris flagged how the taxes represented a “considerable risk personally and politically.” He seems to have sought to resolve that political liability by paying off the taxes. He has insisted it is being treated as a loan.
Those payments would continue, and Morris insists that it was all standard “loan” stuff. Except he is not a bank, and Hunter was routinely called his “client.”
It is also important that these millions are treated as loans because, if they are actually gifts, they could create a new tax problem. Hunter would have to declare such “gifts,” and taxes would be owed on their value.
Few would view Hunter as a good risk for a loan, given his history of stiffing a wide array of businesses and associates. Indeed, he reportedly even struggled to pay for alleged high-end prostitutes. He was even accused of using a credit card connected to his father to pay off an alleged Russian call-girl. Even the art dealer who recently sold Hunter’s art reportedly testified that Hunter never reimbursed him for the costs of the shows.
Those art sales add an interesting twist to the mysterious role of Morris. Recently, art dealer Georges Bergès blew away White House claims that Hunter had been barred from knowing the names of purchasers under a comprehensive ethics system. He admitted that Hunter knew the identity of 70 percent of the purchasers.
It was not hard. Despite news reports of buyers flocking to buy the art, it now appears it was largely Morris who bought the art. Notably, however, Morris reportedly only paid Bergès’ 40 percent commission on the $875,000 purchases. It is not clear whether Morris applied the principal against the outstanding debt. That would be a clever way to treat the money as a loan, if it were used for that purpose. You simply have Hunter crank out dubious pieces of art and arrange for an ally to throw art shows in New York. You then have media allies write how buyers were “floored” by Hunter’s talent.
Finally, you pay the commission on the excessive prices for the art while writing off the value of the art as a type of in-kind payment of the loan. With some valued at close to half a million dollars, many mocked the fact that Hunter was getting more than some Pablo Picasso sales. Yet those inflated prices would be useful to count as direct or indirect payments for the loans.
We still do not know how these purchases or the loans were treated, and whether Morris was acting as a donor, friend or lawyer. Now, Morris is adding a new role to this pile of identities, reportedly supporting a new movie on Hunter Biden.
Call it “Mr. Biden Goes to Washington,” a rewrite of Frank Capra’s classic, only this time the corrupt establishment wins.
In the original movie, a young novice appointed to the U.S. Senate fights the corruption of Washington, where his senior senator has sold access and influence to James Taylor, a wealthy businessman. Taylor scoffs at the notion that the establishment can be challenged. After all, they control the media and what the public will read and hear. As Taylor assured the senior senator, “I’ll make public opinion out there within five hours! I’ve done it all my life…You leave public opinion to me.”
Morris is still fighting to shape public opinion, and, in Hollywood, movies make reality.
Morris “makes public opinion,” and the media can be expected, again, to assist in those efforts.
Many in Washington believe that Hunter’s stunts in holding a press conference defying his subpoena, and later crashing his own contempt hearing, were literally made-for-television moments. These scenes were captured on film and will no doubt be featured in the new film on his heroic struggle.
The question is the audience for the film. Clearly, in the Beltway, audiences are likely to be sobbing with emotion as Hunter fights against inquiries into influence peddling. They will cheer at Joe Biden’s moment channeling John Wayne, when he declared, “No one f**ks with a Biden.”
However, most audience members would not have felt the same thrill if, at the end of the original movie, the corrupt Sen. Joseph Paine and the wealthy Taylor had emerged as the victors, fighting off the do-gooders and “boy rangers” supporting Jimmy Stewart’s main character.
The question is also who would play Morris — or more accurately, how many would have to play this “man with many faces.”
Jonathan Turley is the J.B. and Maurice C. Shapiro Professor of Public Interest Law at the George Washington University Law School.
Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Finance
Car finance saga: Millions of motorists to find out how they will be compensated
Millions of motorists who were mis-sold a car loan will find out how they will be compensated, as the finance watchdog shares its final plans for an industry-wide scheme.
Final decisions on the long-awaited programme will be published by the Financial Conduct Authority (FCA) on Monday afternoon.
The regulator set out draft plans last year but it is likely to make several changes after receiving more than 1,000 responses to its consultation.
Under the latest proposals, the scheme will cover car finance agreements taken out between April 6 2007 and November 1 2024.
The FCA estimated that around 14 million deals, or 44% of all those made since 2007, were unfair and therefore eligible for compensation.
Consumers were estimated to be compensated an average of £700 per agreement, but it will be more or less depending on individual cases.
This was expected to come at a total cost of £11 billion to the industry, including the total payouts and the operational costs of running the scheme.
Craig Tebbutt, a financial health expert for Equifax UK, said: “It has previously been estimated that average compensation levels could be in the region of £700 per agreement but the final details around the scale, scope and timelines are expected to be confirmed on Monday.
“However, there is nothing to stop consumers checking their paperwork now and getting their details ready in the meantime.”
He said research by the credit reporting firm found that “many consumers don’t know how to check their eligibility and expect the process to be a hassle, with old or missing paperwork being a real barrier”.
Equifax has launched a car finance checker within its new app that lets people see a list of their past agreements and copy the details, with motorists encouraged to send a complaint to their lender using a template on the FCA’s website if they think they’re eligible for a payout.
Lenders and car finance providers had been challenging the FCA’s proposals with some raising concerns that the expected amount of compensation is too high and does not accurately reflect what customers lost.
On the other side, some consumer groups and MPs have argued that many motorists will be short-changed under the current plans.
The FCA has already announced some changes that it is making to the process since the proposals were unveiled last year.
This includes giving lenders more time to contact motor finance customers from when the scheme is officially launched.
But it is also aiming to streamline the process by allowing those due redress to accept it immediately without waiting for a final determination.
It thinks that this means million of people would receive compensation in 2026.
Finance
Abacus Global CEO on record 2025 growth – ICYMI
Abacus Global Management (NYSE:ABX) earlier this week reported record-setting financial and operational performance for 2025, highlighting strong momentum in the rapidly expanding life settlements market.
CEO Jay Jackson said the company delivered more than 100% year-over-year growth across key financial metrics, including EBITDA, adjusted net income, and gross results. He emphasized that beyond headline figures, the underlying operational activity demonstrated the strength of the platform.
Jackson noted that Abacus acquired more than 1,300 life insurance policies during the year and generated nearly $180 million in realized gains. The company also sold over 1,000 policies, underscoring the liquidity and scalability of its model. He added that more than $600 million in capital was deployed, enabling over 1,100 seniors to access value from previously illiquid assets.
“We’re helping clients find liquidity in assets they didn’t know had it — their life insurance policies,” Jackson said.
Jackson explained that life insurance policies are increasingly being recognized as a viable financial asset class.
Looking ahead, Jackson pointed to a substantial growth runway, noting that the total addressable market is approximately $14 trillion, while Abacus has only penetrated a small fraction of that opportunity. He suggested that ongoing macroeconomic uncertainty is driving investor demand for uncorrelated assets, positioning life settlements as an attractive alternative.
As a key catalyst for future growth, the company recently completed a minority investment in Manning & Napier, a long-established wealth and asset management firm. Jackson said the partnership provides access to more than 3,400 retail clients, many of whom may not yet be aware of the liquidity potential within their life insurance holdings.
He indicated that this strategic relationship could enhance origination volumes and contribute to continued record performance into 2026.
“We’re one of the largest originators, and our record numbers are an indicator of what’s coming next,” he said.
Finance
New Funding Models Needed As Global Health Faces Growing Financial Strain – Health Policy Watch
Global health is facing a funding crisis. Aid is shrinking, debt is rising, and the needs are only increasing. According to Christoph Benn of the Joep Lange Institute and Patrik Silborn of UNICEF Afghanistan, health systems will need to fundamentally rethink how they finance and sustain care.
On a recent episode of the Global Health Matters podcast, host Gary Aslanyan was joined by these two experts, who said “innovative finance” has become central to discussions on sustaining health systems.
Benn said that while the term is widely used, few agree on what it actually means. He described it as a “spectrum” of approaches, ranging from philanthropic grants and conditional funding to private-sector investment models that expect financial returns.
“It has frustrated us deeply that so many people are talking about innovative finance, but very few actually know what they’re talking about,” Benn said.
Silborn emphasised that these mechanisms should not be treated as one-size-fits-all solutions. Instead, financing models must be designed around specific problems whether that means raising new funds, improving efficiency, or linking payments to measurable outcomes.
Drawing on his experience in Rwanda, Silborn described how a results-based funding model tied disbursements directly to performance, helping the country to maintain progress against major diseases despite reduced funding.
Both experts stressed that private-sector engagement requires a clear understanding of incentives.
“Private corporations are not charities,” Benn said. They can, however, contribute through marketing partnerships, technical expertise, or investment models that align financial returns with social outcomes.
Looking ahead, Benn pointed to targeted taxes and debt swaps as among the most scalable tools. Still, both warned that innovative finance is not a substitute for public responsibility.
“It only works when it is designed to solve real problems in specific contexts,” Benn said, underscoring that strong systems and governance remain essential to any lasting solution.
Listen to the full episode >>
Read more about Global Health Matters podcasts on Health Policy Watch >>
Image Credits: Global Health Matters podcast.
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