Devon Archer, Hunter Biden’s best friend in business, partially corroborated prior IRS whistleblower testimony about the means by which Hunter Biden evaded paying taxes on money received from Burisma Holdings.
As Breitbart News reported, the IRS whistleblower alleged Hunter Biden received the money from Burisma through a Chinese firm run by the Biden family business. Instead of reporting the money as income and paying taxes, the Chinese firm, operated by the Biden family business, allegedly loaned the money to Hunter Biden.
WATCH — “Give Me a Break, Man”: Biden SNAPS at Reporter Asking About Family’s Business Relations in China:
The White House
The whistleblower testified:
So [Hunter Biden] sets this out in this email and what ends up happening is — so imagine this. If you are an owner of a company and your friend tells you that, I want to pay my wages to your company and you’re going to loan the money back to me, that’s essentially what happened here. He took loans from that corporation — which were distributions. And he didn’t pay taxes on those loans.
So essentially for 2014, we had found that Hunter didn’t report any of the money he earned from Burisma. So the reason why this is important is because Hunter set it up this way, to not — to essentially earn the money through his friend’s corporation and then have his friend pay him back half of the money as loans, quote, unquote, loans. …
The whistleblower added, “None of it was taxed. … So none of this has been paid or prosecuted. And I would also like to note that the statute has run out on these tax years or on the 2014 tax year.”
According to Archer’s transcribed testimony before House investigators, money Hunter Biden received from his board position ($83,000), was sent to Bohai Harvest Rosemont (BHR), a Chinese state-backed investment fund.
Archer described the purpose of BHR:
Rosemont Seneca Bohai was set up to hold the equity of BHR, which is Bohai Harvest Rosemont Partners or some — Equity Partners, I believe, which was a — which was a private equity fund that was started between Harvest, which is like the — I would say like the Fidelity of China. Bohai Sea Industrial Fund, which is a — which was like a government-owned private equity fund that wanted to go private. So basically, the three letters of the acronym, Bohai Harvest Rosemont.
This was just set up to essentially own that equity and operate the, you know, what we thought was going to be a successful fund, which it ended up not being. That was — that was the reason for it.
RELATED VIDEO — Eggers: Devon Archer “the Most Credible Witness Testimony” on Hunter Business Dealings:
“In addition to what you just described, was the RSB account also used to receive money from Burisma?” the investigator asked.
“Yes,” Archer replied.
“And looking at the tab there, do you see a payment for approximately $83,000?” the investigator asked.
“Correct,” Archer said.
Last month, IRS whistleblower Gary Shapley told Congress that Hunter Biden failed to pay $125,000 in taxes for income received from Burisma Holdings.
“So he has in his pocket $125,000 of money that should have gone to the federal government as taxes,” Rep. Michael Turner (R-OH) asked Shapley. “The thing I wonder is that he could pay that today. Right? Voluntarily?”
“Yeah,” Shapley said.
During Hunter Biden’s recent court appearance, he agreed to plead guilty for failing to pay taxes on income earned from Burisma. But the plea deal fell apart after the judge questioned if it covered future potential charges from the Department of Justice’s ongoing investigation. The prosecution said the deal did not include any alleged Foreign Agents Registration Act (FARA) violations.