Devon Archer

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Devon Archer
Archer in 2024.
Born1974 or 1975 (age 50–51)

Devon Archer (born 1974/1975[1]) is an American businessman and entrepreneur who was a venture capital and private-equity fund investor. He was a founding board member of BHR Partners,[2] a Chinese investment company, in 2013.

From April 2014 to October 2019, Archer and his business partner Hunter Biden served on the board of Burisma Holdings, one of the largest private natural gas producers in Ukraine.

Early life

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Archer is from Long Island in New York state. He attended North Shore High School in Glen Head, New York, then matriculated at Yale University where he played lacrosse.[3][4] Archer was the roommate of John Kerry's stepson, Christopher Heinz while both were students at Yale.[5] Immediately after his graduation from Yale in 1996,[6] Archer worked for Citibank Vietnam for several years.[7] Archer returned to the United States to serve as a senior adviser to the John Kerry 2004 presidential campaign, co-chairing the campaign's national finance committee; as of 2014, he was a trustee of the Heinz Family Office.[5] Archer is married to a podiatrist and has three children.[8]

International investor and financier

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In 2008, Devon Archer and Hunter Biden co-founded the U.S. investment advisory company Rosemont Seneca Partners. Rosemont Capital, a private-equity firm co-founded by Archer and Christopher Heinz in 2009, owned 50% of Rosemont Seneca Partners.[5][9]

According to The New York Times, during Joe Biden’s tenure as vice president, firms run by Hunter Biden and Archer "pursued business with international entities that had a stake in American foreign policy decisions, sometimes in countries where connections implied political influence and protection."[10]

BHR Partners

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Main article: BHR Partners

Archer, Biden, and Chinese financier Jonathan Li founded the China-based private equity fund BHR Partners in 2013.[11][12] Through Rosemont Seneca Partners, Archer and Biden each held 10% equity in BHR.[13] U.S.-based Thornton Group LLC had a 10% equity stake, and asset managers registered in China owned the rest.[13][14] The Chinese-registered asset managers are the Bank of China (via Bohai Industrial Investment Fund Management) and Deutsche Bank-backed Harvest Fund Management.[15]

The New York Times reported that BHR Partners advised a Chinese state-owned enterprise in its acquisition of an Australian mining company, assisted a subsidiary of a Chinese defense company to buy a Michigan auto parts manufacturer, and facilitated the purchase by a Chinese firm of a highly productive cobalt mine in Democratic Republic of Congo for US$3.8 billion. A former BHR board member told the Times that Archer, Biden, and the other American partners of BHR were uninvolved in the mine transaction.[2][16][17]

Burisma

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In April 2014, Burisma chairman of the board Alan Apter asked Archer to join the board of directors of the company; Archer accepted. Three weeks later, Hunter Biden was appointed to the board as well.[5] Burisma Holdings is owned by Ukrainian oligarch and former politician Mykola Zlochevsky.[18] Christopher Heinz, John Kerry's stepson, was not involved in advising Burisma due to his concern about the associated reputational risk.[19] Archer remained on the board of directors of Burisma until 2016.

Testimony

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In 2015, career diplomat George P. Kent expressed concern over the perception of conflict of interest due to Hunter Biden's and Archer's directorship of Burisma given Vice President Biden's official role working with Ukraine.[20] This was amplified under the Trump administration, also in 2019, as unproven speculation that Joe Biden had engaged in corrupt activities related to Burisma. In 2023, the U.S. House Oversight Committee initiated an investigation to determine whether Joe Biden was involved in his son's business affairs and if the two men accepted bribes from Burisma owner Zlochevsky.[21]

Archer provided more than four hours of closed-door testimony to committee members on July 31, 2023.[22] Archer testified that over the course of 10 years, Hunter Biden put his father on speakerphone about 20 times while in the presence of business associates.[23]

Democratic congressman Dan Goldman said Archer testified that Hunter Biden sold the "illusion of access" to his father in business meetings.[24] Republican congressman Andy Biggs said the testimony implicated the president directly and that an impeachment inquiry was necessary. Republican congressman Jim Jordan said the testimony revealed new information but did not elaborate.[25]

Association with Yelena Baturina

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In 2014, Russian businessperson Yelena Baturina, the wife of former Moscow mayor Yury Luzhkov, wire-transferred $3.5 million to Rosemont Seneca Thornton. The Washington Post reported in April 2022 that the partners of Rosemont Seneca Thornton had agreed to dissolve the organization before the 2014 wire transfer, though it continued to be operated by Devon Archer to facilitate real estate transactions for central Asia investors. Archer received the $3.5 million wire from Baturina to purchase property on her behalf in Brooklyn, New York.[26][27]

Oglala tribe fraud

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In 2015, Archer and his associates, including Jason Galanis and his father, John, urged the Oglala Nation, a Native American tribe in South Dakota, to issue $60 million of bonds.[28] They used the funds from the bond sale for themselves, instead of investing the money for the benefit of the Oglala community.[29] Archer illegally transferred $20 million of the proceeds through his real estate company, Rosemont Seneca "to satisfy the net capital requirements of two other Archer-controlled companies".[30]

A federal jury in Manhattan convicted Archer of securities fraud in 2018. In 2019, U.S. District Judge Ronnie Abrams overturned the verdict and ordered a new trial for Archer. In October 2020, federal prosecutors appealed Abrams' decision to a three-judge panel of the U.S. Court of Appeals for the Second Circuit which ordered that Archer be sentenced for the 2018 conviction of securities fraud and conspiracy.[29]

On February 28, 2022, Judge Abrams sentenced him to a year and a day in prison for misuse of bond funds issued by an economic-development corporation affiliated the with Oglala Sioux tribe.[29][31] Archer was also ordered to make restitution to fund investors[30] of over $43 million.[28] His petition to appeal the conviction was rejected by the U.S. Supreme Court in late January 2024.[32] On May 15, 2024, Judge Abrams vacated his sentence, with re-sentencing ordered, due to a prosecutorial sentencing guidelines error that had been overlooked by his defense counsel.[33]

Archer was pardoned by President Donald Trump on March 25, 2025.[34][35]

References

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  1. ^ Vogel, Kenneth P. (March 29, 2025). "Journey From Biden Loyalist to 'Full MAGA' Ends in a Trump Pardon". The New York Times. Retrieved March 29, 2025.
  2. ^ a b Forsythe, Michael; Lipton, Eric; Searcey, Dionne (November 20, 2021). "How Hunter Biden's Firm Helped Secure Cobalt for the Chinese". The New York Times. Archived from the original on November 20, 2021. Retrieved November 27, 2021.
  3. ^ "Devon Archer Transcript" (PDF). oversight.house.gov. Washington, D.C.: United States House Committee on Oversight and Accountability. July 31, 2023. p. 11. Retrieved April 9, 2024. I attended North Shore Day School in Long Island, Glen Cove. I went to Glenwood Landing Elementary. I went to North Shore High School. I went to Yale University.
  4. ^ "Lacrosse at Yale". Yale University. June 13, 2010. Retrieved April 9, 2024.
  5. ^ a b c d Sonne, Paul; Grimaldi, James V. (May 14, 2014). "Biden's Son, Kerry Family Friend Join Ukrainian Gas Producer's Board". Wall Street Journal. Retrieved August 1, 2023.
  6. ^ "Yale Daily News Historical Archive". ydnhistorical.library.yale.edu. March 28, 1996. Retrieved April 9, 2024. Class of 1996
  7. ^ Morgan, Eileen (1998). "4". Navigating Cross-Cultural Ethics. Taylor & Francis. pp. 93–95. ISBN 978-1-136-01138-2. Retrieved January 27, 2024.
  8. ^ Doescher, Tiana Lowe (July 31, 2023). "Hunter Biden on GOP witness Devon Archer: 'Self-made, supermotivated,' with 'disarming charm'". Washington Examiner. Retrieved August 1, 2023.
  9. ^ Schrekinger, Ben (August 2, 2019). "Biden Inc". Politico Magazine. Archived from the original on October 8, 2019. Retrieved September 25, 2019.
  10. ^ Vogel, Kenneth P.; Mendel, Iuliia (May 2, 2019). "Biden Faces Conflict of Interest Questions That Are Being Promoted by Trump and Allies". The New York Times. Retrieved July 31, 2023.
  11. ^ "Hunter Biden: What was he doing in Ukraine and China?". BBC News. October 23, 2020. Archived from the original on October 29, 2020. Retrieved October 29, 2020.
  12. ^ Areddy, James T.; Duehren, Andrew (December 23, 2020). "Hunter Biden's Family Name Aided Deals With Foreign Tycoons". The Wall Street Journal. Archived from the original on January 26, 2021. Retrieved January 29, 2021.
  13. ^ a b "About Us: Investment Funds". BHR Partners. Archived from the original on May 16, 2020. Retrieved February 5, 2021.
  14. ^ "Will Hunter Biden Jeopardize His Father's Campaign?". The New Yorker. July 1, 2019. Archived from the original on July 10, 2019. Retrieved July 10, 2019.
  15. ^ Deng, Chao (July 10, 2014). "Bohai, Harvest and U.S. Investment Firms Expand Target for Outbound Fund". The Wall Street Journal. Archived from the original on May 17, 2020. Retrieved May 17, 2020.
  16. ^ "Hunter Biden's firm helped Chinese company purchase rich cobalt mine in $3.8 billion deal: report". Fox News. November 20, 2021. Archived from the original on November 27, 2021. Retrieved November 27, 2021.
  17. ^ Millward, David (November 21, 2021). "Hunter Biden linked investment firm 'helped' Chinese buy cobalt mine". The Telegraph. Archived from the original on January 11, 2022.
  18. ^ Risen, James (December 8, 2015). "Joe Biden, His Son and the Case Against a Ukrainian Oligarch". The New York Times. Retrieved July 31, 2023. When Vice President Joseph R. Biden Jr. traveled to Kiev, Ukraine...one of the issues on his agenda was to encourage a more aggressive fight against Ukraine's rampant corruption...the credibility of the vice president's anticorruption message may have been undermined...Hunter Biden, 45, a former Washington lobbyist, joined the Burisma board... at the same time [as] Devon Archer.
  19. ^ Sonne, Paul; Kranish, Michael; Viser, Matt (September 28, 2019). "The gas tycoon and the vice president's son: The story of Hunter Biden's foray into Ukraine". The Washington Post. Archived from the original on October 6, 2019. Retrieved October 6, 2019.
  20. ^ Faulders, Katherine (October 18, 2019). "Diplomat said he expressed concern over Hunter Biden's foreign work in 2015". ABC News. Retrieved January 31, 2024.
  21. ^ Broadwater, Luke (December 12, 2023). "House Approves Biden Impeachment Inquiry as G.O.P. Hunts for an Offense". The New York Times.
  22. ^ Gangitano, Alex; Schnell, Mychael (August 3, 2023). "5 takeaways from Devon Archer's interview with House Oversight". The Hill. Retrieved January 30, 2024.
  23. ^ Fortinsky, Sarah (August 1, 2023). "Democrat Goldman and GOP's Donalds spar over Devon Archer coverage". The Hill. Retrieved August 2, 2023.
  24. ^ Brooks, Emily (July 31, 2023). "Democrat downplays Hunter Biden associate Devon Archer's testimony". The Hill.
  25. ^ Amiri, Farnoush (July 31, 2023). "Hunter Biden sold 'illusion of access' to his father, former business partner tells Congress". Associated Press.
  26. ^ Bertrand, Natasha (September 28, 2020). "Trump sought deals with Moscow mayor". Politico. Archived from the original on September 29, 2020. Retrieved September 28, 2020.
  27. ^ Kessler, Glenn (April 8, 2022). "Unraveling the tale of Hunter Biden and $3.5 million from Russia". The Washington Post.
  28. ^ a b Freeman, James (March 2, 2022). "A Biden Bestie and the Oligarchs". Wall Street Journal. Retrieved July 31, 2023.
  29. ^ a b c Michaels, Dave (October 8, 2020). "Judges Revive Conviction of Hunter Biden's Ex-Business Partner". Wall Street Journal. Retrieved July 31, 2023.
  30. ^ a b "United States v. Archer, 977 F.3d 181". casetext.com. United States Court of Appeals for the Second Circuit. October 7, 2020. Retrieved July 31, 2023.
  31. ^ "Devon Archer Sentenced To A Year And A Day In Prison For The Fraudulent Issuance And Sale Of More Than $60 Million Of Tribal Bonds". U.S. Department of Justice. Southern District of New York. February 28, 2022. Retrieved July 31, 2023.
  32. ^ Hurley, Lawrence (January 22, 2024). "Supreme Court rejects Devon Archer appeal in criminal case". NBC News. Retrieved January 26, 2024.
  33. ^ Nava, Victor (May 15, 2024). "Ex-Hunter Biden business partner Devon Archer to be resentenced, fed judge rules". New York Post. Retrieved March 26, 2025.
  34. ^ Watson, Kathryn (March 25, 2025). "Trump issues pardon for Hunter Biden's ex-business partner Devon Archer". CBS News. Retrieved March 26, 2025.
  35. ^ "Executive Grant of Clemency for Devon Archer". The White House. March 26, 2025. Retrieved March 27, 2025.
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