Hunter Biden’s former business partner was sentenced to more than a year in prison on Monday for his part in a conspiracy to swindle a Native American tribe of $60 million in bonds.
Judge Ronnie Abrams of Manhattan sentenced the defendant, Devon Archer, to one year and one day in federal prison, saying the crime was too heinous to let him go free.
The harm done to real people is undeniable, according to Abrams, who pointed out that the deceived tribe, the Oglala Sioux, is one of the poorest in the country.
Archer will also be required to pay a forfeiture of more than $15 million and restitution of more than $43 million alongside his co-defendants in the case.
According to his attorney, Matthew Schwartz, the convicted fraudster has maintained his innocence and plans to fight his conviction and punishment.
Archer and Schwartz said they were taken advantage of by crooked businessmen who intended to employ him in the scam in brief remarks to Abrams right before he was convicted.
Archer, whose voice trembled at times, described his conviction and impending prison sentence as nothing short of surreal.
Prior to his arrest, Archer was on the board of Burisma Holdings, a Ukrainian energy business, alongside Hunter Biden.
Archer offered substantial value to Burisma throughout his time on the board, according to a sentencing memo filed earlier this month by Schwartz, but he left after his arrest in the case in 2016.
Biden was unrelated to the fraud plot for which Archer was convicted on Monday.
After a trial in 2018, Archer was found guilty of conspiracy to commit securities fraud and securities fraud by a jury.