Hunter Biden’s pal sentenced to prison for role in fraud scheme

nypost ^ | 2/28/2022 | Ben Feuerherd

[bitt]

A former business partner of Hunter Biden was sentenced Monday to more than a year in prison for his role in a scheme to defraud a Native American tribe of some $60 million in bonds.

The defendant, Devon Archer, was sentenced to one year and one day in federal prison by Manhattan Judge Ronnie Abrams, who said the crime was “too serious” to let him just walk.

“There’s no dispute about the harm caused to real people,” Abrams said, noting that the defrauded tribe, the Oglala Sioux, is one of the poorest in the nation.

Archer will also have to pay more than $15 million in forfeiture by himself and more than $43 million in restitution with his co-defendants in the case.

The convicted fraudster has maintained his innocence and intends to appeal the conviction and sentence, his attorney, Matthew Schwartz, said in court Monday.

In brief statements to Abrams just before Archer was sentenced, he and Schwartz claimed he was taken advantage of by corrupt businessmen who wanted to use him in the scheme.

“He came under the influence of a person he trusted too much and didn’t ask enough questions,” Schwartz said.

Archer, his voice quivering at times, said it was “nothing less than surreal” that he had been convicted and was facing a prison sentence Monday.

“I was doing too many things at once and not paying enough attention,” Archer said of his involvement in the fraud.

“I have deep remorse for the victims of the crime,” he said, adding that he was also distraught about the pain he had caused his friends and family.

[MCSETots]

One year and one day for $60,000,000.

That’s about $164,000 per day, assuming it isn’t a leap year he serves or interest on the $60 mil.

Nice return on investment . . .

[MadMax, the Grinning Reaper]

One down. So many more to go!