A federal court has reinstated the securities fraud and conspiracy conviction of Devon Archer, a longtime business associate of Hunter Biden.
The U.S. Court of Appeals for the Second Circuit ruled Wednesday that Archer knew and was potentially involved in a scheme that pushed a Native American tribe “to issue $60 million in economic-development bonds,” as first reported by the Wall Street Journal. After being issued the bonds, according to federal prosecutors, they were diverted for the personal use of Archer and several of his business associates.
Biden, the youngest son of former Vice President Joe Biden, was neither aware nor involved in the scheme. Prosecutors, however, have evidence that his name was invoked by Archer and associates at “various stages of the fraud as a selling point” for the bonds.
Although Biden was not involved in the case, his business ties to Archer have long been at the center of public scrutiny. The duo’s involvement with Burismas Holdings, a Ukrainian natural gas conglomerate, in particular, has generated controversy.
As Breitbart News has previously reported, Biden joined Burisma’s board of directors in May 2014 shortly after Archer joined as well. Both men’s appointments came around the same time that Joe Biden was tapped to be the Obama administration’s point man on Ukraine. Despite having no background in either eastern Europe or the energy industry, Hunter was paid as much $83,000 per month for his services.
Adding to concerns was that he joined the company at a time when it was actively courting western leaders to prevent scrutiny of its business practices. The same month that Biden was tapped for Burisma’s board, Mykola Zlochevsky, the firm’s founder, had his assets frozen in the United Kingdom on suspicion of money laundering. A Ukrainian official with ties to Zlochevsky admitted in October 2019 the only reason Biden received his appointment with Burisma was to “protect” the company from foreign scrutiny.
Zlochevsky eventually succeeded in having assets unfrozen by allegedly paying a $7 million bribe to Ukraine’s then-prosecutor general in December 2014, according to testimony Deputy Assistant Secretary of State George Kent delivered to Congress earlier this year. Kent, who was then serving as the deputy chief of mission in Ukraine, only became aware of Hunter Biden’s role with Burisma after the bribe was supposedly paid and raised concerns with his superiors in the Obama-era State Department over the perception of a conflict of interest.
It is in the context of Burisma and Zlochevsky’s legal troubles that Joe Biden’s influence has raised red flags. The former vice president has particularly drawn questions over his conduct in demanding the Ukrainian government fire its top prosecutor, Viktor Shokin, in 2016. The demand for Shokin’s ouster was tied to more than $1 billion in U.S. loan guarantees.