Hunter Biden's Business Partner Devon Archer Accused Of Owing Native American Tribe $44 Million
Hunter Biden’s business partner, Devon Archer, still owes a Native American tribe tens of millions of dollars despite being ordered to pay the tribe back in full last month, RadarOnline.com has learned.
In the latest development to come more than one year after Archer was sentenced to one year in prison for conspiracy to commit securities fraud and securities fraud charges against the Oglala Sioux, Manhattan federal prosecutors announced on Wednesday that the embattled businessman still owes the tribe a whopping $43,954,416.75.
“As of April 5, 2023, Archer has paid nothing toward the judgment and the outstanding restitution balance,” Assistant US Attorney Melissa Childs wrote in the “writ of garnishment” this week.
The court filing also revealed that federal prosecutors are now working to seize property owned and controlled by Archer in an effort to begin repaying his victims – including both a trust company and a life insurance company owned by Archer.
According to the New York Post, Archer was sentenced to one year in prison in February 2022 by US District Judge Ronnie Abrams.
Archer and his co-defendants were found guilty of issuing $60 million in bonds to a community corporation controlled by the Oglala Sioux and, despite promising to return the money to the tribe via an annuity, the co-defendants instead used the $60 million to create a “financial services mega company.”
“Archer became a key player in the scheme, anticipating that, when the scheme succeeded, he would helm the resulting conglomerate and, ultimately, reap massive profits from its sale,” New York prosecutors wrote in a submission before Archer was sentenced last year.
The 48-year-old businessman has been allowed to remain free as he continues to appeal his guilty conviction and prison sentence.
- Hunter Biden's Friend & Former Business Partner Sentenced To One Year In Prison
- Hunter Biden's 'Wild' Spending Exposed: $872k on Prostitutes, X-Rated Club Memberships and Adult Films
- Hunter Biden and Ukrainian Gas Firm Burisma Set Up Account With Foreign Bank Two Years Before it Was Shut Down for Suspected Money Laundering
As RadarOnline.com previously reported, Archer and President Joe Biden’s son, Hunter, had a close business relationship before Archer was busted by the federal government last year.
Although Hunter was not involved in the scheme to defraud $60 million from the Oglala Sioux, Archer was reportedly responsible for helping the embattled first son land a seat on the board of the Ukrainian energy company Burisma.
Never miss a story — sign up for the RadarOnline.com newsletter to get your daily dose of dope. Daily. Breaking. Celebrity news. All free.
Hunter’s role as a Burisma board member has since come under investigation by House Republicans who suspect the first son used his father’s influence to land the position.
House Republicans are also investigating whether Hunter’s business dealings with foreign powers have potentially “compromised” President Biden and therefore placed the nation at risk.
“Our investigation is about Joe Biden,” GOP House Rep. James Comer said upon announcing the House investigation. “Was Joe Biden directly involved with Hunter Biden’s business deals and is he compromised? That’s our investigation.”