A federal appeals court reinstated on Wednesday the conviction of Devon Archer, Hunter Biden’s former business partner, for misusing proceeds from a $60 million bond sale involving the Oglala Sioux tribe.
The three-judge panel reversed a decision by a lower court judge who had ruled Archer should receive a retrial because there was not enough evidence to prove he knew about the fraud, the Wall Street Journal reported. The appeals court reinstated Archer’s original 2018 conviction on securities fraud and conspiracy charges and ordered him to be sentenced.
Archer “knew at least the general nature and extent of the scheme and intended to bring about its success,” according to the appeals court ruling. The 2018 ruling found that he and other defendants had diverted the proceeds of a $60 million bond sale to their own business interests rather than for their intended use.
An attorney for Archer said the appeals court’s decision was “beyond disappointing.”
Biden’s attorney has denied his client had knowledge of the scheme and federal prosecutors never brought charges against him or accused him of any wrongdoing.
Archer worked with Biden in various business interests. The pair served as partners at investment firm Rosemont Seneca and as board members at Ukrainian energy firm Burisma.
Biden’s work with Burisma has drawn constant scrutiny in recent months, with President Trump often accusing Joe Biden’s son of leveraging the Democratic presidential nominee’s reputation and contacts to enrich himself.
Trump ripped Hunter Biden at the first presidential debate in Cleveland last month, alleging he “made a fortune” through illicit business dealings overseas when Joe Biden was vice president in the Obama administration. Joe Biden has repeatedly denied that his son engaged in any wrongdoing.
“My son did nothing wrong at Burisma. He doesn’t want to let me answer because he knows I have the truth,” Biden during the debate.