by WorldTribune Staff, April 7, 2023
Should swindled Native Americans be asking for 10 percent from the “big guy”?
Hunter Biden’s business partner Devon Archer, who was convicted of swindling the Oglala Sioux out of tens of millions of dollars, has not paid one cent in restitution to his victims as ordered by a New York judge.
In court filings on Wednesday, Manhattan federal prosecutors wrote that more than a month has passed since Archer received a demand for payment of the debt.
Archer, who has been referred to as Hunter Biden’s “best friend in business,” owes his victims a total of $43,954,416.75.
“As of April 5, 2023, Archer has paid nothing toward the judgment and the outstanding restitution balance,” Assistant U.S. Attorney Melissa Childs wrote in the so-called writ of garnishment.
Prosecutors are seeking to seize property controlled by Archer from a trust company and a life insurance company in order to begin repaying his victims, according to the court filing.
In February 2022, Archer was sentenced to more than a year in prison after his conviction on conspiracy to commit securities fraud and securities fraud charges for his role in the scheme to defraud the Oglala Sioux.
Archer has been allowed to remain free while he appeals his conviction and sentence.
Archer and his co-defendants issued a community corporation controlled by the Oglala Sioux some $60 million in bonds. Instead of returning a promised annuity, Archer and his co-defendants used the cash to build a “financial services mega company,” prosecutors charged.
“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,” prosecutors wrote in a sentencing submission for Archer.
Archer had a close relationship with Hunter Biden and helped land Joe Biden’s son a seat on the board of Burisma, a Ukrainian energy company.
🚨Just filed by the @SDNYnews: @HunterBiden‘s “best friend in business” Devon Archer (who is represented by @mls0066) has “paid nothing toward the judgment and the outstanding restitution balance is $43,954,416.75. More than 30 days has elapsed since demand for payment of the… pic.twitter.com/uWEK9q69PM
— Marco Polo (@MarcoPolo501c3) April 6, 2023
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