Why It Matters: The indictment of Hunter Biden is "the latest and weightiest step yet in a long-running investigation into the president's son," The Associated Press explains. Biden was charged with three felony gun counts, including "knowingly" lying about his drug use on a form required to be filled out before purchasing a firearm, as well as owning a firearm while being addicted to a controlled substance. The indictment explains that Biden "provided a written statement ... certifying he was not an unlawful user of, and addicted to, any stimulant, narcotic drug, and any other controlled substance, when in fact, as he knew, that statement was false and fictitious."

This indictment comes weeks after a plea deal fell apart when a judge had questions about "its unusual provisions" (The AP); the plea deal allowed Biden to enter into a pretrial diversion agreement that would allow him to avoid prosecution on a felony firearm offense (provided he stay out of legal trouble and drug-free for two years) and also involved him pleading guilty to a pair of tax-related misdemeanors, resulting in no jail time. The AP reports that the special counsel has indicated that charges related to that specific case "could be filed in Washington or California, where he lives."

Big Picture: If convicted on all three counts, Biden faces a maximum penalty of up to 25 years. His lawyer released a statement stating he plans to fight the charges.

Hunter Biden indicted on federal firearms charges in long-running probe weeks after plea deal failed

Hunter Biden indictment recap: President Biden's son hit with felony gun charges

Read the indictment HERE