Hunter Biden was associated with Burnham Asset Management during a major securities fraud incident.
According to Just the News, Hunter Biden has not faced legal consequences for his involvement due to a pardon from his father, although his business partners were prosecuted.
Two of Hunter Biden's business partners were implicated in a million-dollar securities fraud scheme at Burnham Asset Management. Documents indicate a bank account shared by Hunter Biden played a role in the fraudulent transactions.
This account, belonging to Rosemont Seneca Bohai, LLC, and linked to business partner Devon Archer, executed significant bond transactions just before Hunter Biden signed his employment agreement with the firm.
Hunter Biden held a substantial position within the firm. According to records, he was appointed Vice Chairman and was to earn an annual salary of $800,000 based on a 2015 agreement.
The same bank account used for questionable bond transactions was also where Hunter Biden received his compensation from Burisma Holdings.
In drafted corporate documents, Hunter Biden was also mentioned as a potential board member for the bond issuance. The fraud involved misusing funds from bonds issued by an Oglala Sioux Native American entity. Both Devon Archer and Jason Galanis were convicted for their part in this scheme.
George Mesires, Hunter Biden's former lawyer, stated that Hunter was unaware of the misuse of his name in the fraudulent activities. This testimony was reinforced by documents obtained during the Congressional impeachment inquiry.
George Mesires defended Hunter Biden, stating, "The defendants...invoked and used Hunter’s name—without his knowledge—to lend their business venture more credibility," and "As soon as Hunter learned of the illegal conduct, and that his name was being used in this unauthorized and inappropriate manner, Hunter took immediate steps to ensure that his business interests would not be associated with the Burnham Group or with any of the defendants."
During a congressional testimony, Hunter Biden claimed that he never actively engaged with the company post-revelation of the fraudulent activities. He emphasized that any suggestion for his involvement with Burnham never materialized beyond initial proposals.
Congressional records and testimony show that Hunter Biden was also the corporate secretary of Rosemont Seneca Bohai, where he managed banking activities alongside the COO. Despite these connections, Joe Biden's presidential pardon freed Hunter Biden from any personal liability associated with the company from 2014 to the present.
The interest from members of Congress in investigating potential influence peddling by the Biden family persists. Sen. Ron Johnson highlighted the implications of the presidential pardon on Hunter's ability to testify, saying, “But what is interesting is, with Hunter Biden's pardon, he has no Fifth Amendment right not to testify and tell the truth, and so he could be, we could prosecute him for lying to Congress. He's going to have to answer truthfully. So that's a real possibility.”
The involvement of Hunter Biden in a securities fraud on Burnham Asset Management, highlighted by bank transactions and business partnerships, remains a controversial topic.
While his business partners faced legal consequences, Hunter Biden's distancing from the firm and subsequent presidential pardon has left many questions unanswered. This situation continues to unfold as congressional scrutiny persists.
