Hunter Biden Associate Ordered to Pay $44 Million in Restitution

The Hunter Biden Burisma Holdings saga continues. Devon Archer, a fellow board member who served with Biden, has been found guilty and ordered by the court to repay $44 million in restitution to victims in a securities fraud charge. Archer served with Biden on the board of a Ukraine-based energy company, Burisma Holdings. Hunter Biden was hired by Burisma Holdings to the board in 2014 while his father was serving as Vice President. Archer was found guilty, and a judgment was entered on Feb.28, 2022, by the U.S. District Court of the Southern District of New York. The proceeds to Archer from the crimes include forfeiture of $15,700,513 in unpaid interest on the original $43,427,436. As of April 5, 2022, the court has received no payment, and a 30-day demand of payment has passed with no payments made. This inaction will result in a court order to garnish companies associated with Archer’s available assets. Archer has made no effort for a stay of restitution. Last year Archer was sentenced to federal prison for a one-year and on-day sentence for defrauding a Native American Indian tribe of $60 million in a bond scheme. Writs of garnishment will be issued on Midland IRA Inc. & Midland Trust Company of Fort Meyers, Florida, and Guardian Life Insurance Company of American Legal Department, New York. The government believes Archer controls various nonexempt properties, retirement funds, brokerage accounts, and life insurance associated with these companies. Hunter Biden and his business dealings have been under scrutiny after the discovery of laptops left at a computer repair store. There’s the perception that Hunter Biden having no experience or knowledge in the oil or gas business was hired by Burisma Holdings as a way to gain access to the Vice President for influence that would benefit Burisma. President Biden has said he’s never spoken to Hunter about his son’s business dealings