When a million-dollar securities fraud wrapped up two of Hunter Biden’s business partners at Burnham Asset Management, Hunter Biden escaped scrutiny. However, bank records and corporate document drafts now show one of the future first son’s shared bank accounts was used in the fraudulent bond transaction.
After his partners were arrested and charged in the scheme, Biden immediately moved away from the firm. He later told lawmakers during the impeachment inquiry into his father, former President Joe Biden, that the proposed work with Burnham never came to fruition.
Any personal liability for his association with the company at the center of the fraud scheme has now been wiped out after former President Joe Biden delivered a sweeping pardon for his son from 2014 to the present day.
But, members of Congress have expressed interest in continuing their probe into what the House GOP impeachment inquiry concluded last year was a Biden family influence peddling scheme, especially after a final report from the special counsel prosecuting Hunter Biden left several unanswered questions.
Last year, Just the News reported the first evidence that the younger Biden was much more closely associated with the entities involved in the tribal bond fraud. Corporate records show that Hunter Biden served as Vice Chairman of Burnham and was promised an $800,000 yearly salary. A signature analysis confirmed that Biden signed the employment agreement with Burnham on April 15, 2015.
These documents were first collected by the SEC and FBI agents in 2016, obtained by Congress during the impeachment inquiry, and recently shared with Just the News. New documents from the same probe of the tribal bond fraud show that Hunter Biden was closer to the action than previously known.
For example, a bank account he shared with one business partner was used in part of the bond transaction scrutinized by federal authorities. One individual close to the bond transaction told Just the News that the bonds were transferred to and from the RSB account to associate them specifically with the Biden name, evoking a pattern identified by House Republican investigators that suggested Hunter Biden was trading on his last name to secure lucrative deals.
Additionally, a draft private placement memorandum for the bond transaction floated Hunter Biden as a potential board member for the entity set to issue the bonds for the tribal entity, according to the documents obtained by Just the News.
Abbe Lowell, a lawyer for Hunter Biden, did not respond to a request for comment from Just the News about the bank records.
The Bank Account
The bank records show $15 million worth of initial Wakpamni municipal bonds were transferred out of the Rosemont Seneca Bohai, LLC bank account, listed under the name of Hunter Biden business partner Devon Archer, just days before Biden signed the Burnham employment agreement. Investigators identified this transaction as part of a wider $60 million fraud scheme for which Archer and several other co-defendants were prosecuted.
According to the Justice Department, from March 2014 to April 2016, Archer and another partner, Jason Galanis, along with several other co-defendants, were charged with defrauding an Oglala Sioux Native American tribal entity by inducing it to issue bonds but then failed to invest them as they promised. Archer and Galanis were ultimately convicted, though a judge recently ruled that Archer should be re-sentenced.
After his former partners were arrested, Hunter Biden’s lawyer at the time, George Mesires, released a statement immediately distancing his client from the alleged scheme at Burnham and claimed Archer and Galanis had used Biden’s name without his knowledge.
“The defendants…invoked and used Hunter’s name—without his knowledge—to lend their business venture more credibility,” Mesires said, according to the Wall Street Journal. “As soon as Hunter learned of the illegal conduct and that his name was being used in this unauthorized and inappropriate manner, Hunter took immediate steps to ensure that his business interests would not be associated with the Burnham Group or with any of the defendants.”
But, the records reviewed by Just the News and congressional testimony from Devon Archer show Rosemont Seneca Bohai and its bank account were closely associated with Hunter Biden. Additionally, evidence provided to the House Ways and Means Committee by two IRS whistleblowers during the impeachment probe shows that Hunter Biden was, at one time, the firm’s corporate secretary.
In his impeachment testimony, Archer confirmed Hunter Biden’s association with the firm and its bank account.
“Hunter was a corporate secretary of RSB. We had a handshake 50-50 ownership. And he conducted, you know, banking business with the COO,” Archer told congressional investigators during his July 2023 testimony.
The Rosemont Seneca Bohai account was also the primary vehicle of Burisma Holdings. The company landed at the center of allegations from House Republicans that the Biden family was engaged in an influence-peddling scheme using their name and family patriarch’s position as vice president.
The same bank statement for 2015 reviewed by Just the News records the monthly payments from Burisma, and transfers to Hunter Biden in and out of that account.
You can see excerpts from the bank statement below:
RSB Bank Account Client Statement.pdf
Proposed Leadership Role
In addition to the bank transfers, a draft private placement memorandum for the bond offering on behalf of the Wakpamni Lake Community—a subsidiary of the Oglala Sioux Nation—shows that Hunter Biden was floated as a board member in the early stages of the deal. The draft memolays out the plans for the tribal bond offering proposed by Hunter Biden toserve as a director of a new entity, Sovereign Re Capital Holdings Inc., the bond issuer.
The entry includes a short bio that highlights Biden’s work for the Boies, Schiller, Flexner, LLP law firm, and various Rosemont Seneca firms. It also highlights his Honorary Co-Chair role on the 2009 Presidential Inaugural Committee, the same year his father was inaugurated as vice president. He is listed alongside his longtime business partner Devon Archer, who testified to the House impeachment inquiry in 2023.
You can read the memo below:
It is unclear whether the structure outlined in the draft document was ever involved in the bond transaction or if Hunter Biden was actually offered the role.
However, during Archer’s trial for the fraudulent scheme, his attorney Matthew L. Schwartz claimed that Hunter Biden “was part of this deal.” This claim was disputed by Hunter Biden’s then-lawyer, who tried to distance Biden from the Burnham firm and fraud scheme when Archer and Galanis were arrested.
After the bond scheme came under renewed scrutiny during the House Republicans’ impeachment inquiry, Hunter Biden reiterated to congressional investigators in his testimony that he never became part of the Burnham investment.
“And did you have any active participation in Burnham, either as an equity holder, director, or officer?” Rep. Andy Biggs, R-Ariz., asked Biden in his impeachment inquiry deposition earlier this year.
“No. I don’t think that ever came to fruition. I think that there was a proposal that I’d be a part of that, but it all fell apart in all of this,” Biden replied.
One Senator believes it may be possible to bring Hunter Biden back for more questioning. Now that he is protected by his father’s expansive pardon, Senator Ron Johnson, R-Wis., says Hunter Biden cannot exercise his fifth amendment right to avoid incriminating himself.
“But what is interesting is, with Hunter Biden’s pardon, he has no Fifth Amendment right not to testify and tell the truth, and so he could be, we could prosecute him for lying to Congress,” Sen. Johnson told the John Solomon Reports podcast earlier this month. “He’s going to have to answer truthfully. So that’s a real possibility.”
Steven Richards joined Just the News in August 2023 after previously working as a Research Analyst for the Government Accountability Institute (GAI) in Tallahassee, Florida. He is a two-time graduate of Florida State University with a Masters in Political Science and a B.S. in International Affairs.
Reprinted with Permission from Just the News – By Steven Richards
The opinions expressed by columnists are their own and do not necessarily represent the views of AMAC or AMAC Action.
This is what happens when site moderation is away. It’s the land of liberal lunatic lunacy where up is down and wrong is right.
Therefore to you jim, mike usa, FTU, fake ronald reagan, aarp, tex, hertz hz, abc, ape us, smith, fred flintstoner, new mexico john, ccc,: Whatever name that you use to post the rants of your left twisted perversions, it’s all nothingness here to we the majority of the United States of America
Your drivel is NOTHING to us who prosper in the grand blessings of lives that are lived by Godly values. We are a people who can see and hear the good news of simple yet absolute truth. We are VERY well educated parents who CLAIM the right over what is proper education for our children far MORE than STATIST bureaucrats indoctrinated on PERVERSE leftist tripe like you spew.
Whether it’s about transgender hitler, hamburgers or hertz hr, threatening war or Bible burning, all your moniker perversions are easy to spot as the waste of space that you are: You wackos will always lose the battle you have declared against everything righteous and good.
In fact, all who push your sick world view only confirms to the public that you will lose everything you try to steal from we who produce and defend everything of eternal value.
It us so obvious the Hunter Biden, and by default, his worthless old man ” Big Guy” Joe Biden are the most corrupt pair in DC. They will lie to the face of anybody asking, with absolutely no remorse. But seeing as how joe pardoned his whole crooked family, he has left the door open to go after his lying, cheating ass. INVESTIGATE JOE BIDEN AND HIS “PLAY FOR PAY” schemes he has used his entire life. He is nothing more than a traitor to America, and the American people.
Right now, this is nothing but interesting information that confirms what we already concluded about the Biden crime family. Nothing can be done about it, unless the Bidens commit a new crime that cannot be linked to their former (now pardoned) activities.)
I HOPE that whatever STATE this happened in has the ***s to charge him and convict him. His federal pardon won’t do him any good and he lost his Fifth Amendment protection accepting his pardon. Charge Joe Biden too!!! He did NOT pardon himself, big mistake.
funny how hunter skates on all these illegal activities isn’t it? maybe one of his “partners” will put an end to what so far has escaped punishment?
I wonder if Obama knew about this.
Proof positive that Biden’s pardons, especially those of his family members, must be overturned, These pardons show that Biden was culpable and an active participant in all these criminal actions. ALL the funds of the Biden crime family must be frozen immediately, and a round-up of them all would be a great start in unraveling this criminal enterprise. No one who is paid under $200,000 annually can amass a family fortune exceeding $72 million through honest activity.
NO surprise here! A dope-addled, sex fiend who was raised [?] by a crook is liable to do most anything! Let’s find some STATE charges and get an indictment!
This should surprise no one who knew anything about Biden before he illegitimately became “President”. His father set him up in politics for the big, sleazy opportunities that he focused on exclusively. Of course, those of us on the conservative side of the aisle knew this for decades before now… but the “democrats” simply don”t know any better… and would vote for a hemorrhoid if it ran for office.
Ugh, what a POS…
Papa fixed everything already, dirty B*****d that he is. Didn’t he cover that far back?
Amac needs to start blocking all these trolls. There’s a contact form under the menue and we need to use it to pressure them into doing so.
Sweetest phrase in the English language: “Former President Joe Biden”.
Joe did not pardon Jill or himself. They cannot claim they did not know what scumbag son was up to. They covered for him over, and over, and yet again. Joe can’t pardon himself or Jill now.
The Biden family crime syndicate is everything we thought it was, and the media continues to cover for them.
Where did all these losers come from?
Bring on the SWAT TEAM and round up the whole Biden Family!
This family needs to praise the Lord God they aren’t in prison… like us poor people would be: I made a $50 error on my measily tax firm and the IRS caught it. Imagine if I did it intentionally… for larger amounts. ITS GOOD TO BE A BIDEN!
I think the slow process in prosecuting those who have committed crimes is the problem with our justice system because lots of cases just run out the statute of limitations and the crooks used that in their defense, but not when it comes to Pres. Trump, as no statute is ever used and old dismissed cases resurrected for him to face bogus trials, according to a savvy lawyer I heard. We all know that now and can see where the corruption starts….
My hope is that the Trump administration can prosecute him for something because he belongs in jail along with a bunch of other Democrats and some Republicans!!
The federal AG may not be able to charge him but the court of public opinion can convict; and we should keep hearing about all the details of deeds for which he cannot be convicted in a federal court of law.
This is a very good and juicy piece of information, not even one Woodward or Bernstein to try to grab a headline?
It is so difficult to read things like this knowing little to nothing will be done. 0 accountability.
Bring him up on new charges – get around the double jeopardy somehow and 10 year pardon
WOKE!
I read a few years ago that Joe Biden and Hunter Biden, got paid $5,million each by then Burisma Holdings but no product for what it was for? What were they selling at that time? Is that why, (on TV) then Sen. Joe Biden demanded the firing of the Burisma investigator or else he won’t relish the U.S. funds to Ukraine. Whatever happened to that investigation?
The only bright side to the pardon of Hunter is that odds are that he won’t be able to keep himself out of trouble.
We probably won’t have to wait long before he returns to his ways.
Are they looking for any evidence that Joe Biden was also in the loop? Because he did not pardon himself, will he be in trouble? If he is acting on his mental ability now, could that be his best protection?
????
Another loser.
Loser.