Hunter Biden’s name used to legitimize sale of fraudulent tribal bonds

WAKPAMNI LAKE – The Wakpamni Lake Community Corporation bond scheme that defrauded unwitting investors of more than $60 million, attracted the attention of the Wall Street Journal, because of a high profile name connected to it, Hunter Biden.

The bond offerings by the Wakpamni Lake Community Corporation, promised millions in relief to one of the most impoverished areas in the nation, with little or no economic development opportunities. However the old adage, “If it seems too good to be true, then it probably is” turned out to be true in this case.

According to the U.S. Attorney’s office, in May 2016, seven people connected to the WLCC case were indicted then arrested for securities fraud and conspiracy to commit securities fraud; Jason Galanis, Hugh Dunkerley, Gary Hirst, John Galanis, a/k/a “Yanni,” Bevan Cooney, Devon Archer and Michelle Morton.

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during Devon Archer’s trial in June of 2018, an old Yale classmate of Archer’s was repeatedly implicated in the scheme. According to court transcripts Archer was a longtime business partner of Hunter Biden and the pair were connected to an “to an opaque investment company, called Rosemont Seneca Bohai, LLC, which on information and belief, was affiliated with Rosemont Seneca Partners, LLP, an investment company run by Archer’s friend and former college roommate, Hunter Biden.”

Rosemont was started by Archer, Joe Biden’s son, Hunter Biden, and the heir to the Heinz ketchup empire, Christopher Heinz.

According to prosecutors at Archer’s trial, Archer and Biden were also connected to the Burnham Financial Group, “where his business partner Devon Archer — sat on the board of directors.” Biden was listed as the vice-president.

Although Burnham was not named in any court proceedings, they were the alleged placement agent for the Wakpamni Lake Community Corporation tribal bond offerings.

According to an article in the New York Post (nypost.com/2020/01/18/how-five-members-of-joe-bidens-family-got-rich-through-his-connections/) “Burnham became the vehicle for a number of murky deals abroad, involving connected oligarchs in Kazakhstan and state-owned businesses in China.”

“But one of the most troubling Burnham ventures was here in the United States, in which Burnham becñame the center of a federal investigation involving a $60 million fraud scheme against one of the poorest Indian tribes in America, the Oglala Sioux,” the Post article reads.

According to trial transcripts Biden’s name was used to “drum up business for the scheme,” and lent “legitimacy” because of his father’s political status as vice-president.

“Although Hunter Biden was not charged in the case, his fingerprints were all over Burnham,” the Post article states.

The article alleges that the scheme was “explicitly designed to target pension funds that had ‘socially responsible investing’ clauses, including pension funds of labor union organizations that had publicly supported Joe Biden’s political campaigns in the past.”

https://www.nativesunnews.today/articles/hunter-bidens-name-used-to-legitimize-sale-of-fraudulent-tribal-bonds/