Hunter Biden blasted as it emerges he namedropped then-VP Joe Biden to avoid SEC scrutiny in 2016
WASHINGTON, DC: Hunter Biden, the son of President Joe Biden, allegedly leveraged his father’s position as Vice President to mitigate scrutiny from the Securities and Exchange Commission (SEC) during a 2016 fraud investigation.
The revelation surfaced through a letter disclosed on Tuesday, June 18, implicating Biden in efforts to shield himself from legal scrutiny.
The SEC had subpoenaed Hunter Biden as part of an investigation into the sale of more than $60 million in fraudulent bonds associated with the Oglala Sioux tribe in South Dakota. The probe culminated in the indictment of seven individuals, including Hunter’s business associates Devon Archer and Jason Galanis. However, Hunter Biden was not among those charged.
House Republicans demand answers
In the wake of these revelations, House Republicans involved in the impeachment inquiry of President Biden are pressing for further information from the SEC. The GOP members are particularly interested in the potential influence of Vice President Biden’s office on the SEC’s actions during the investigation.
House Oversight Chairman James Comer (R-Ky) and House Judiciary Chairman Jim Jordan (R-Ohio) have written to SEC Chair Gary Gensler, expressing concerns over the matter.
“Mr. Biden’s response gratuitously invoked his father’s position as the Vice President in what could be interpreted as an effort to discourage further SEC scrutiny,” the letter stated. “On May 11, 2016, the SEC published a press release—announcing the charging of seven individuals—with no mention or charging of Hunter Biden.”
“[Rosemont Seneca Bohai] was directly implicated in the tribal bond scheme,” Comer and Jordan wrote. "The RSB bank account was used to funnel other foreign payments and benefits to Hunter Biden, including money from Ukraine and a new sports car from an oligarch in Kazakhstan.”
Testimonies and emails from Hunter Biden’s abandoned laptop indicate his role as vice chairman of Burnham Financial Group. The firm controlled Burnham Securities, the placement agent for the $60 million bond sale that defrauded the Oglala Sioux tribe.
On March 16, 2016, the SEC subpoenaed Hunter Biden for documents and communications related to Rosemont Seneca Bohai, a company managed by Archer and partially owned by Biden.
Hunter’s counsel responded on April 20, 2016, urging the SEC to maintain confidentiality, citing potential unfairness to Hunter and his father. The letter, partially redacted and released by the House Oversight Committee, emphasized discretion due to the high-profile nature of Hunter’s family.
“The confidential nature of this investigation is very important to our client and it would be unfair, not just to our client, but also to his father, the Vice President of the United States, if his involvement in an SEC investigation and parallel criminal probe were to become the subject of any media attention,” Hunter's attorney wrote.
Fallout and legal repercussions
Jason Galanis received a 14-year federal prison sentence in 2017 for his role in the bond scheme. Devon Archer was convicted in June 2018 and sentenced to a year and a day in prison, alongside a forfeiture of $15.7 million and restitution payments of $43.4 million. Archer sought a reduced sentence in February, citing his cooperation with the House GOP impeachment inquiry.
House Republicans are now seeking extensive documentation, including communications between the SEC and Vice President Biden’s office. They have also requested an interview with a former SEC staff attorney who led the probe and currently serves as a principal enforcement adviser at the agency. The SEC has until July 2 to comply with these requests.
An SEC spokesperson told the New York Post that “Chair Gensler will respond to Members of Congress directly."
Earlier this month, the House GOP impeachment inquiry, involving three committees, referred criminal charges against Hunter and James Biden to the Justice Department. They accused the Biden relatives of making false statements to Congress in February.
Meanwhile, Hunter Biden faces legal challenges on multiple fronts. He was recently found guilty on three charges related to illegal possession of a firearm while addicted to illicit drugs.
Additionally, he is scheduled to stand trial in Los Angeles on September 5 for allegedly evading $1.4 million in federal taxes between 2016 and 2019, charges to which he has pleaded not guilty, the New York Post reported.
Bidens slammed on social media
Hunter Biden’s attempt to invoke his father’s influence to avoid SEC scrutiny has sparked quite a backlash on social media.
"Of course he did," one posted on X.
"Do you know who I am? Hmmmm," another wrote.
"Hunter has a 52-card deck of 'Dad cards' apparently," someone else quipped.
"Biden’s are the Government Mafia," a comment read.
"The Biden Crime Cartel on full display," another alleged.
"Sorryness familly trait," said a social media user.
"This is the least of the Biden crime syndicates issues," another one said.
"2024 The Tax Evasion tour," said another user.
"Old habits never die," a comment read.
"This is the least of the Biden crime syndicates issues," one user slammed under a Youtube video.
This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.
