Devon Archer, a former partner of Hunter Biden, has been sent to prison for a securities fraud crime that was ruled too heinous to avoid jail time. Archer has attempted to challenge the verdict all the way to the United States Supreme Court, but has been unsuccessful.
President Joe Biden’s son Hunter’s close personal friend and old business colleague, Devon Archer, was sentenced to prison on Monday for scamming a Native American tribe. Archer could face a year and a day in jail, and also one year probation and the forfeiture of $14 million in assets, according to a federal judge in New York.
In 2014, Archer earned prominence after it was revealed that he referred Hunter Biden, his Rosemont Seneca partner, to the Ukrainian gas business Burisma.
For years, both Archer and Biden remained on Burisma’s board of directors, allegedly earning more than $83,000 each month.
The sentence handed down on Monday has nothing to do with the Ukrainian gas agreements, but rather with Archer’s conviction (read below) for conspiracy and securities fraud in June 2018 for his involvement in a bond scheme that defrauded an Oglala Sioux tribe out of millions of dollars.
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According to the court, Archer and two other defendants colluded to get the Wakpamni Lake Community Corporation issue a number of tribal bonds, defrauding both the tribe and the bond buyers while embezzling the earnings. As per the Department of Justice, Archer and another accused were using the bonds to fulfill capital requirements in broker agreements and then used the gains to purchase companies “as part of a strategy to build a financial services conglomerate.”
Judge Ronnie Abrams ruled the offence was too heinous to avoid jail time on Monday, but he reduced the sentence from the 30 months sought by prosecution, noting the Covid-19 pandemic as the justification. In addition, instead of the proposed three years of probation, he imposed a one-year sentence. As reparations to the tribe, the US government may confiscate up to $14 million in possessions owned by Archer.
Archer was also given 60 days to go to prison by Abrams, but he later stated he will establish a different surrender date pending an appeal.
Archer has attempted to challenge the verdict all the way to the United States Supreme Court, but has been unsuccessful. Archer had sought – and Judge Abrams had approved – permission to travel to over 40 countries after his indictment and even conviction in November 2021.
Read the document below: