And the plot thickens. Corrupt Joe Biden’s crackhead son’s name Hunter Biden was used as a selling point in a fraudulent bond scheme. I’m sure this is just another amazing confidence. Crackhead Hunter Biden wasn’t just an innocent bystander either. He was a part of the deal!
| Crooked Biden son’s name was used as selling point in fraudulent bond scheme |
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Hunter Biden’s work in Ukraine and China has attracted criticism from President Trump and other Republicans. In an unrelated fraud case from last year, his name was invoked as a selling point in transactions that turned out to be fraudulent, although Mr. Biden‘s lawyer said his client knew nothing about it.
The case involved a $60 million securities fraud based on bonds issued by an economic-development company affiliated with a Native American tribe in South Dakota, according to prosecutors’ statements in a federal trial in Manhattan last year.
The proceeds were supposed to be used to build a distribution center and other projects, but were instead diverted for the personal use of Jason Galanis, prosecutors said, describing him as the scheme’s ringleader. Mr. Galanis and others also sought to use the bonds to advance a strategy that involved buying up financial firms to merge them into a larger one called Burnham Financial Group, in a deal called a “roll up,” according to prosecutors.
Mr. Galanis pleaded guilty to securities fraud, conspiracy to commit securities fraud and investment-adviser fraud in the case and was sentenced in 2017 to more than 14 years in prison. His incarceration could be reduced after he argued to an appeals court that he got poor legal advice at the time he accepted his sentence, according to court documents.
One of Mr. Galanis’s alleged co-conspirators in the affair, which unfolded from 2014 and 2016, was Devon Archer, a longtime business partner of Mr. Biden, according to prosecutors. A consultant’s report aimed at potential investors listed Mr. Archer as chairman of the combined financial firm and Mr. Biden as its vice chairman, according to trial testimony. At the time Mr. Biden’s father, Joe Biden, was vice president.
After trustees for a group of mutual funds affiliated with Burnham expressed concern about the involvement in their business of Mr. Galanis, who had earlier been disciplined by securities regulators, Mr. Archer mentioned Hunter Biden’s role, an attorney working for the trustees testified during the trial. The attorney said Mr. Archer told his clients that Hunter Biden had joined a Burnham entity earlier in 2015 and wasn’t being paid a salary while he worked to drum up business for that firm.
Hunter Biden “was part of this deal,” Matthew L. Schwartz, Mr. Archer’s attorney, said during a 2018 trial.