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Bevan Cooney: Hunter Biden’s Ex-Business Partner Went to Prison for Fraud

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bevan cooney

Getty Hunter Biden.

Bevan Cooney is a former business partner of Hunter Biden who is serving prison time for his involvement in a 2016 bond fraud investment scheme.

Cooney was sentenced on July 31, 2019 to serve 30 months in prison for “defrauding a Native American tribal entity and various investment advisory clients of tens of millions of dollars in connection with the issuance of bonds by the tribal entity and the subsequent sale of those bonds through fraudulent and deceptive means,” according to the Southern District of New York U.S. Attorney’s Office.

“Bevan Cooney was part of a conspiracy that orchestrated a complex and corrupt scheme to defraud a Native American community and the clients of two asset management firms,” U.S. Attorney Audrey Strauss said.

“Today he learned the cost of committing those crimes. This Office is committed to protecting the investing public by appropriately prosecuting market predators.”

Cooney, who had a one-time stint working with Biden and his business partner Devon Archer, recently leaked emails revealing the vice president’s son and colleagues used Obama-Biden administration connections to “arrange private meetings for potential foreign clients at the highest levels in the White House,” Breitbart reported.

“These never-before-revealed emails outline how a delegation of Chinese investors and Communist Party officials managed to secure a private, off-the-books meeting with then-Vice President Joe Biden,” the outlet said.

Here’s what you need to know about Bevan Cooney:

1. Cooney & Archer Were Both Indicted  in the Fraud Scheme

Archer, a longtime business partner of Biden’s, was indicted alongside Cooney in the Wakpamni Lake Community Corporation bond scheme that defrauded investors of more than $60 million, according to the Southern District of New York U.S. Attorney’s Office.

The men, as well as a handful of others, participated in the scheme from March 2014 to April 2016, the office claimed.

On top of his prison time, Cooney was sentenced three years of supervised release, the U.S. District Attorney’s Office announced. He was also ordered to forfeit $9,527,000 and to make restitution in the amount of $43,785,176.

Archer, on the other hand, is currently awaiting sentencing after an appellate court overturned a federal judge’s previous ruling to vacate his conviction, Politico reported.

2. Hunter Biden’s Name Was Used to Legitimize the Sales of the Fraudulent Tribal Bonds, According to Local Media

hunter biden

GettyHunter Biden.

During Archer’s trial in June 2018, Biden was implicated in the tribal fraud scheme, according to court transcripts obtained by Native Sun News Today.

Prosecutors linked both men to the Burnham Financial Group, “the alleged placement agent” for the bond offerings, the outlet reported.

Archer was cited on the board of directors, while Biden served as the vice president, Native Sun News Today continued.

“Although Burnham was not named in any court proceedings, they were the alleged placement agent for the Wakpamni Lake Community Corporation tribal bond offerings,” the newspaper said.

3. Cooney Reached out to Breitbart After He Felt Slighted by the Fraud Scheme Rulings

Cooney in 2019 reached out to Breitbart’s Peter Schweizer, claiming he was the “fall guy” for the fraud scheme, according to the outlet. He indicated that Archer and Biden dodged responsibility, Breitbart continued.

From prison, Cooney later provided Schweizer with written authorization, his email account name and his password to retrieve the emails detailed in the mentioned story, Breitbart reported.

“He authorized, in writing, the publication of these emails— notable because it is the first time a close associate has publicly confirmed Hunter’s trading on his father’s influence,” the outlet continued.

4. Cooney Previously Lived in Nevada & Montana

According to court records, Cooney had previously lived in Incline Village, Nevada, as well as Missoula, Montana.

Jason Galanis, dubbed by prosecutors the “mastermind” behind the bond ripoff, called Cooney his “best friend of 23 years and equity holder in all the businesses,” the court documents say.

Cooney was also cited as a “direct or indirect owner” of CORF A, a Delaware limited liability company, “through which he owned an interest in Burnham Securities,” the records add.

5.  In 2017, Cooney’s Ex Wife Sued Him in Bankruptcy Court

Bevan Cooney and Rachel Cooney divorced in May 2017, according to court filings.

Through a consent judgment, the couple agreed that Bevan Cooney would pay his ex-wife restoration payments totaling $568,750, court documents show. In September of that year, Rachel Cooney claimed that he had only payed roughly $160,000, with interest still being owed, the court records continue.

“The Judgment also specifically indicates that the debt owed to Plaintiff by Defendant, as indicated above, would not be dischargeable in Bankruptcy,” the adversary proceeding records state.

In her lawsuit, Rachel Cooney demanded that Bevan Cooney pay her the rest of what he owes, as well as all attorney fees relating to the divorce judgement.

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