{"id":1352336,"date":"2022-03-01T06:10:38","date_gmt":"2022-03-01T11:10:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1352336"},"modified":"2022-03-01T11:23:22","modified_gmt":"2022-03-01T16:23:22","slug":"hunter-biden-business-associate-devon-archer-sentenced-for-fraud-networks-ignore","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hunter-biden-business-associate-devon-archer-sentenced-for-fraud-networks-ignore\/","title":{"rendered":"Hunter Biden Business Associate Devon Archer Sentenced For Fraud, Networks Ignore"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhunter-biden-business-associate-devon-archer-sentenced-for-fraud-networks-ignore%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1352336&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/03\/GettyImages-818006798.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>A business associate of Hunter Biden was sentenced for fraud and the major networks have completely ignored the news.<\/p>\n<p>While Hunter Biden, son of President Joe Biden, was not involved in the crime that produced a one-year prison sentence for Archer, one must remember how corporate media covered the arrests of former President Donald Trump\u2019s campaign manager Paul Manafort and campaign adviser Robert Stone for crimes not involving Trump.<\/p>\n<p>In a <a href=\"https:\/\/www.justice.gov\/usao-sdny\/pr\/devon-archer-sentenced-year-and-day-prison-fraudulent-issuance-and-sale-more-60-million\">press release<\/a> published Monday, the Department of Justice (DOJ) explained that Archer had been sentenced \u201cfor defrauding a Native American tribal entity and various investment advisory clients of tens of millions of dollars in connection with the issuance of bonds by the tribal entity and the subsequent sale of those bonds through fraudulent and deceptive means.\u201d<\/p>\n<p>The DOJ added that evidence established at trial showed that between March 2014 and April 2016, Archer and numerous others \u201cengaged in a fraudulent scheme that involved (a) causing the Wakpamni Lake Community Corporation (\u201cWLCC\u201d), a Native American tribal entity, to issue a series of bonds (the \u201cTribal Bonds\u201d) through lies and misrepresentations; (b) deceptively causing clients of asset management firms controlled by Hirst, Morton, and others to purchase the Tribal Bonds, which the clients were then unable to redeem or sell because the bonds were illiquid and lacked a ready secondary market; and (c) misappropriating the proceeds resulting from those bond sales.\u201d<\/p>\n<p>Another defendant, John Galanis, convinced the WLCC to issue Tribal Bonds \u201cthrough false and fraudulent representations,\u201d according to the DOJ. Jason Galanis, John\u2019s son, was working at the same time \u2013 with backing from Archer and others \u2013 to acquire Hughes Capital Management, a registered investment adviser. Once that was acquired, Michelle Morton and Gary Hirst were installed as CEO and CIO, respectively, and immediately \u201cplaced the entire $28 million first series of Tribal Bonds with Hughes clients but failed to disclose material facts about the Tribal Bonds, including the fact that the Tribal Bonds fell outside of the investment parameters set forth in the investment advisory contracts of certain Hughes clients,\u201d the DOJ reported.<\/p>\n<p>Hughes\u2019 clients were not told about numerous conflicts of interest involving the Tribal Bonds, either.<\/p>\n<p>Archer, his co-defendants, and their co-conspirators then misappropriated the proceeds from the first Tribal Bond Issuance. \u201cSignificant amounts\u201d of the proceeds went to support the defendants\u2019 business and personal interest. The DOJ singled out the Galanis\u2019, noting that John \u201csecretly received\u201d $2.35 million and spent it on \u201cpersonal expenses and luxury items, including cars, jewelry, and hotel expenses.\u201d His son Jason used some of the proceeds to \u201cfinance the purchase of a $10 million luxury apartment in Tribeca, which, with Archer\u2019s consent, he purchased in Archer\u2019s name,\u201d the DOJ said.<\/p>\n<p>In addition to his prison term, Archer was also sentenced to a year of supervised release and ordered to forfeit $15,700,513 to pay restitution in the amount of $43,427,436.<\/p>\n<p>Archer was heavily involved in Hunter Biden\u2019s shady business dealings with Ukraine-based energy company Burisma.<\/p>\n<p>As Newsbusters <a href=\"https:\/\/www.newsbusters.org\/blogs\/nb\/kevin-tober\/2022\/02\/28\/nets-ignore-hunter-bidens-business-partners-fraud-conviction\">reported<\/a>, ABC, CBS, and NBC all ignored Archer\u2019s sentencing.<\/p>\n<p>\u201cThis is not the first time the networks looked the other way when one of Hunter Biden\u2019s friends became engulfed in legal problems. Back in January,\u00a0<a href=\"https:\/\/www.newsbusters.org\/blogs\/nb\/kevin-tober\/2022\/01\/10\/nets-ignore-hunter-bidens-close-friend-being-charged-treason\">all three evening newscasts<\/a>\u00a0ignored Hunted Biden\u2019s close friend\u00a0Karim Massimov being\u00a0<a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/hunter-bidens-close-friend-charged-with-treason-in-kazakhstan\">charged with treason<\/a>\u00a0in Kazakhstan\u00a0during violent protests caused by a spike in gas prices in the region,\u201d Newsbusters reported. \u201cThis likely wouldn\u2019t be the response if the story were about a business partner of one of former President Trump\u2019s adult children.\u201d<\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a\u00a0<\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A business associate of Hunter Biden was sentenced for fraud and the major networks have completely ignored the news.While Hunter Biden, son of President Joe Biden, was not involved in<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1352336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1352336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1352336"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1352336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1352336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1352336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1352336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}