Hunter Biden’s business dealings have once again come under the spotlight as new evidence emerges linking him to a fraudulent bond transaction involving his former associates at Burnham Asset Management.
Despite escaping direct scrutiny initially, documents reveal that a shared bank account of Biden’s was utilized in the fraudulent deal. When his partners were apprehended, Biden attempted to dissociate himself from the firm, asserting to lawmakers that his engagement with Burnham never materialized.
The controversy surrounding Hunter Biden has been compounded by a sweeping pardon from his father, former President Joe Biden, which erased any potential personal liability for his involvement in the company from 2014 onward.
Nevertheless, some members of Congress remain committed to investigating what they perceive as a Biden family influence peddling scheme, particularly after the special counsel’s final report on Hunter Biden left several questions unanswered.
Previously, Just the News reported that Hunter Biden was more intricately connected to the entities implicated in the tribal bonds fraud than initially thought. As Vice Chairman of Burnham, Hunter was promised a significant annual salary. Furthermore, a signature analysis verified that Biden had signed an employment agreement with Burnham in 2015, underscoring his involvement.
The investigation, which dates back to 2016, initially collected these documents through efforts by the SEC and FBI, and they have since been shared with Congress and the media. New evidence from the ongoing probe indicates that Hunter Biden’s involvement was more extensive than previously understood.
One of the key revelations is the use of a shared bank account in the fraudulent bond transaction. Sources close to the deal indicated that the Biden name was leveraged to transfer bonds, aligning with a pattern identified by House Republican investigators, suggesting Hunter Biden capitalized on his family name for securing profitable deals.
In a draft private placement memorandum for the bond transaction, Hunter Biden was proposed as a potential board member for the entity issuing the bonds for the tribal entity. This detail was highlighted in documents obtained by Just the News.
Despite attempts to distance himself, records and testimonies indicate that the Rosemont Seneca Bohai bank account, associated with Hunter Biden, played a crucial role in the fraudulent scheme. This account was also used to manage his salary from Burisma Holdings, the Ukrainian energy company embroiled in allegations of influence peddling by the Biden family.
Bank records reviewed by Just the News show that significant amounts were transferred out of the Rosemont Seneca Bohai account, associated with Hunter Biden’s business partner Devon Archer, right before Biden signed the employment agreement with Burnham. This transaction was identified as part of a larger fraud scheme for which Archer and others were prosecuted.
The Justice Department charged Archer, Jason Galanis, and several co-defendants with defrauding a Native American tribal entity by coercing it to issue bonds that were never invested as promised. Though Archer and Galanis were convicted, recent developments call for Archer’s re-sentencing.
In the aftermath of his partners’ arrests, Hunter Biden’s lawyer at the time, George Mesires, issued a statement disassociating his client from the scheme, claiming his name was used without his knowledge. Mesires emphasized that Biden took immediate action to sever ties with Burnham and the defendants once he learned of the illegal activities.
However, further evidence, including congressional testimony from Devon Archer, reveals Hunter Biden’s close association with the firm and its bank account. Archer confirmed Biden’s role as a corporate secretary and his involvement in banking transactions.
The draft private placement memorandum for the tribal bond offering suggested Hunter Biden as a director for a new entity, highlighting his professional credentials and connections. While it remains unclear if this proposal was formalized, the documentation indicates Biden’s potential leadership role in the deal.
During Archer’s trial, his attorney claimed that Hunter Biden was part of the deal, a claim Hunter’s representatives have consistently disputed, seeking to distance him from the fraudulent activities of Burnham. Despite this, the House Republicans’ impeachment inquiry reignited scrutiny, prompting Hunter Biden to reiterate his stance.