Devon Archer was sentenced to a year and a day in federal prison by Manhattan Judge Ronnie Abrams for his role in a ploy that defrauded the Oglala Sioux tribe of nearly $60 million in bonds.
Before being arrested, Archer and Biden sat on the board of the Ukrainian energy company Burisma Holdings.Archer’s attorney, Matthew Schwartz, said Archer — who has maintained his innocence — would be appealing the judgment ordering him to pay over $15 million in restitution out of pocket and over $43 million with his co-defendants.
"He came under the influence of a person he trusted too much and didn’t ask enough questions," Schwartz said. "I have deep remorse for the victims of the crime," Archer said, adding that he was also distraught about the pain he had caused his friends and family.Abrams said that he could not let Archer walk for his role in the scheme, deeming the crime"too serious."
Archer and his co-defendants were alleged by prosecutors as having purchased more than $60 million in bonds from the Oglala Sioux, which was then used to"build a financial services mega-company" instead of holding the bonds for annuity.
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