- Net worth
- Unknown
- Crimes
- securities fraud, wire fraud, conspiracy
- Convicted of
- Conspiracy to commit securities fraud; wire fraud (fraudulent tribal bond scheme)
- Original sentence
- One year and one day imprisonment; $15.7M forfeiture; $43.4M restitution (2018)
- Time served
- Served; pardon March 2025
Background
Devon Archer was a business associate of Hunter Biden and was convicted in 2018 in the Southern District of New York for his role in a fraudulent tribal bond scheme led by Jason Galanis.
The Case
Archer conspired to fraudulently issue and sell more than $60 million in bonds through the Wakpamni Lake Community Corporation, a tribal entity in South Dakota. He and others induced the tribal corporation to issue bonds through false representations, then sold the bonds to investors and used the proceeds for personal expenses, including jewelry, luxury cars, and real estate. Archer was convicted of conspiracy to commit securities fraud and wire fraud. He was sentenced to one year and a day in prison and ordered to forfeit $15.7 million and pay $43.4 million in restitution. The scheme defrauded investors and misused a tribal entity; the lead orchestrator, Jason Galanis, was sentenced to 14 years in prison. Archer’s conviction was upheld on appeal, and the Supreme Court declined to review it in 2024.
The Pardon
On March 25, 2025, President Trump granted Archer a full pardon.