Feds to garnish Hunter Biden biz partner Devon Archer’s assets for not paying $44M in restitution – IOTW Report

Feds to garnish Hunter Biden biz partner Devon Archer’s assets for not paying $44M in restitution

JTN: Federal prosecutors said Wednesday that former Hunter Biden business partner Devon Archer has failed to make restitution on the roughly $44 million he owes in connection being found guilty last year of conspiracy to commit securities fraud and that they will now attempt to collect the money by garnishing companies that apparently hold some of Archer’s assets.

The court entered a judgment against Archer on Feb. 28, 2022, that included $43,427,436 in restitution to the victims of the offenses of which he was found guilty; the forfeiture of $15,700,513, which represents the proceeds of his crimes; and  interest accrues on the unpaid restitution, accord to the three-page filing in the U.S. District Court Southern District of New York.

“As of April 5, 2023, Archer has paid nothing toward the judgment and the outstanding restitution balance. More than 30 days has elapsed since demand for payment of the debt was made, yet the balance has not been paid. Archer has neither sought nor obtained a stay of the restitution owed to the victims of his crimes,” Damian Williams, the U.S. district attorney for the Southern District of New York, and Assistant U.S. Attorney Melissa Childs also wrote in the filing.

Their filing also states that “to enforce the judgment, the government requests that writs of garnishment be issued” on  Midland IRA Inc. & Midland Trust Co., of Fort Meyers, Florida, and Guardian Life Insurance Company of America Legal Department, New York, N.Y. MORE

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