First son Hunter Biden invoked his father Joe’s position as vice president to help fend off charges from the Securities and Exchange Commission after it subpoenaed him in a 2016 fraud probe, according to a letter revealed Tuesday.
Ultimately, seven people, including Hunter’s associates Devon Archer and Jason Galanis, were charged with defrauding a Native American tribe — but not the younger Biden himself.
Now House Republicans involved in the impeachment inquiry of President Biden are demanding answers from the SEC.
At the time, the agency was investigating the sale of more than $60 million in fraudulent bonds for an Oglala Sioux tribal entity in South Dakota.
Trial testimony and emails from Hunter Biden’s abandoned laptop indicate that he was the vice chairman of Burnham Financial Group. Court records indicate the firm controlled Burnham Securities, which was the placement agent for the $60 million bond sale ripoff that defrauded the tribe.
On March 16, 2016, the SEC subpoenaed Hunter for all documents and communications “concerning Rosemont Seneca Bohai,” which was managed by Archer and owned a percentage of Burnham — and which Archer told congressional investigators last year had a “50-50 handshake” ownership structure between himself and Hunter.
More than a month later, on April 20, 2016, Hunter’s counsel responded to the subpoena and implored the agency to keep the matter on the down-low.
