Devon Archer, a longtime Biden family friend who served on the board of Ukrainian Burisma Holdings with Hunter Biden, has been sentenced to over a year in prison for conducting an elaborate fraud scheme. This scheme had nothing to do with Burisma Holdings. Instead, Archer played a pivotal role in defrauding a Native American tribe of $60 million in bonds.
While this instance of fraud does not directly involve Joe Biden, it does show you the shady characters Biden aligns himself with and installs on energy boards in foreign countries.
In addition to over a year in prison, Devon Archer is solely responsible for paying over $15 million in forfeiture. He will also pay part of the $43 million in restitution along with his co-defendants in the case.
Archer’s attorney, Matthew Schwartz, tried to ensure his client would not face any jail time, but Manhattan Judge Ronnie Abrams refused to oblige. Judge Abrams claimed that his crimes were “too serious” just to let him walk.
Abrams told the court that “There’s no dispute about the harm caused to real people.”
The judge also added that the Ogala Sioux, the Native American tribe Devon Archer defrauded, is the poorest in the U.S. With this understanding, it is clear that the Biden associate, Devon Archer, is utterly devoid of moral values as he profited off the suffering of low-income minorities.
While Archer is only now being sentenced, he was originally charged with the crime in 2016. Due to this, he was forced to resign from his position at the Ukrainian energy company, Burisma. Attorney Matthew Schwartz argued in court that Devon Archer provided “real value” to Burisma during his time on the board, but this is unlikely since he was a corrupt Biden installment.
The fraud scheme Archer partook in involved purchasing over $60 million in bonds from the Oglala Sioux. Archer and his defendants claimed that they would use the money for an annuity, a financial instrument that earns interest and provides guaranteed payments at predetermined times.
Instead, Archer used the money to build a “financial services mega-company” off the backs of the poorest Native American tribe in the United States.
Matthew Schwartz tried to persuade the jury that Archer was also a victim in the scheme, claiming that Devon Archer had come “under the influence of a person he trusted too much and didn’t ask enough questions.”
However, the prosecutors adamantly disagreed with this view. In a sentencing memo, prosecutors stated the following:
“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.”
Devon Archer was visibly shaken after being sentenced to over a year in prison. He and his attorney had believed he would get off relatively easily due to political connections in the White House.
Judge Abrams had granted Archer’s request for a new trial, but this was quickly overruled by a federal appeals court that reinstated the conviction. Luckily, Biden’s shady associate will be facing legitimate punishment for his fraudulent schemes.
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