By Shipwreckedcrew
There’s a mystery about to unfold about Hunter Biden’s connection to an Indian bond fraud scheme that happened from 2014-15, for which some business associates of Hunter Biden have gone to federal prison.
Bottom line: Hunter Biden followed his partner, Devon Archer, into bed with some unabashed Wall Street fraud merchants.
No ifs, ands, or buts — Hunter Biden laid down with dogs and now he’s got fleas.
I wrote two articles last week on the decision by the Second Circuit Court of Appeals reinstating the felony securities fraud conviction of Devon Archer, Hunter Biden’s, main business partner in his Ukraine and Chinese business ventures that seem to have traded on Joe Biden’s position as Vice President.
For Hunter Biden’s Ukraine/China Business Partner — Orange Is the New Black
The second article looked into the details of the fraudulent bond deal which left an Indian Tribe saddled with a mountain of debt, and buyers of the Indian Tribe’s bonds the likely possibility that the bonds were worthless and the money they invested has been lost. The scheme was relatively sophisticated, with a lot of moving parts, and involved a variety of “players.”
After the release last week of emails from Hunter Biden’s laptop exposing some of the business schemes he’s been involved in, a person convicted in the Indian Tribe bond fraud, Bevan Cooney, has now made available approximately 26,000 emails in his Gmail account, suggesting there are documents there that implicate Hunter Biden in the Indian bond fraud scheme — and probably a lot more.
Cooney has released the emails because he claims that Hunter Biden improperly escaped accountability and responsibility for his role in the fraud for which seven other people have gone to prison.
I’m going to do a series of articles on this subject — hopefully one a day as time allows.
First, this article will provide an overview of the fraud scheme and the known players.
Second, I’m going to fit this scheme into a timeline of other known events involving Hutner Biden, Devon Archer, and others in their orbit.
Third, I’m going to look more closely at the available case file looking for information suggesting the involvement of individuals not charged in the case. There were seven defendants charged in the indictment. Four pled guilty prior to trial, and three went to trial and were convicted by the jury — including both Cooney and Archer.
Fourth — whatever else I think of.
Part 1: Who, What, Where, and How.
The “30,000-foot view” of the bond fraud scheme is that a group of white-collar “fraudsters” with a long track record of dubious and illegal financial dealings, pitched a proposal to the Wakpamni Lake Community Corporation of the Oglala Sioux Tribe, in Pine Ridge, South Dakota, to issue a series of tax-free tribal bonds to raise money for improvements and public works projects on Tribal land in South Dakota The fraudsters claimed they would take the proceeds from the bond sales and purchase annuities with a reputable insurance company. The revenue from the annuities would pay the interest on the bonds to the investors, and the excess revenue would be used to fund projects on the Tribal land.
What happened instead was that, through a series of fraudulent acts and sham transactions, after the Tribe issued three sets of bonds with an aggregate total value of $64 million, none of the proceeds from the sales of the bonds were used to purchase annuities as promised. Only the first interest payment to investors was made — with money obtained from another source — and a sizeable amount of the $64 million was spent by the promoters on themselves, as well as being used in other business operations with which they were involved.
The seven individuals charged in the case were the alleged leader, Jason Galanis, his father John Galanis, Gary Hirst, Hugh Dunkerley, Michelle Morton, Bevan Cooney, and Devon Archer.
John Galanis was in his early 70s and had a criminal record involving similar types of fraudulent schemes going back to the 70s. He was convicted in the late 1980s on a lengthy RICO prosecution connected to his takeover and looting of three mutual funds. John Galanis was sentenced to 27 years. He served only 13 before being released. After being convicted along with Archer and Cooney, he is now serving a sentence of 12o months imposed by the trial judge Ronnie Abrams. He was 76 when he went into custody in 2019.
Jason Galanis is one of four sons of John Galanis. The Indian Tribe fraud actually came unraveled because Jason Galanis was arrested in connection with a different fraud — one which also included his father and two of his brothers. That earlier case was a “pump and dump” stock fraud scheme involving Gerova Financial Group Ltd, a company based in Bermuda, but publicly traded on the New York Stock Exchange.
Hunter is supposed to be a lawyer. Did he not learn in law school what “against the law” meant?
Obama both the Clinton’s and Al Gore should be in prison as well