24/06/2024

UDS-Biz

Growing Your Income

Rep.-elect George Santos under federal investigation

Rep.-elect George Santos under federal investigation

Federal prosecutors have opened a probe into the finances of GOP Rep.-elect George Santos, who’s facing questions over the origins of his mysterious wealth, according to reports.

The investigation was launched by the US Attorney’s Office for the Eastern District of New York, CBS News and CNN reported on Wednesday.

Prosecutors are reportedly scrutinizing, among other things, the 34-year-old Long Island pol’s financial disclosure filings where Santos reported earning $750,000 from his Devolder Organization consulting firm, along with dividends valued between $1 million and $5 million.

In 2020, Santos reported making just $55,000 in annual salary and the filings also show that he loaned his own successful House campaign for New York’s 3rd Congressional District more than $700,000. 

However, Santos’ campaign filings did not disclose any clients of the Devolder Organization giving him business of more than $5,000 — which has fueled speculation about how the incoming congressman got the money for the loans. 

GEORGE SANTOS
He admitted to The Post about lying about his education, work history, and his personal life. 
Stephen Yang

“Where did that money come from?” Santos’ fellow Rep.-elect Dan Goldman (D-NY) of Brooklyn tweeted earlier this week while calling for an investigation.

News of the federal probe came hours after Nassau County District Attorney Anne Donnelly announced her office would be investigating Santos after he admitted to The Post on Monday about lying about his education, work history, and numerous aspects of his personal life. 

“The numerous fabrications and inconsistencies associated with Congressman-Elect Santos are nothing short of stunning,” Donnelly, a Republican, said in a statement.

GEORGE SANTOS
Santos reported making just $55,000 in annual salary in 2020.
Stephen Yang
Nassau County District Attorney Anne Donnelly
Nassau County District Attorney Anne Donnelly announced her office would be investigating Santos as well.
AP

“The residents of Nassau County and other parts of the Third District must have an honest and accountable representative in Congress,” she added. “No one is above the law and if a crime was committed in this county, we will prosecute it.”

The US Attorney’s Office for the Eastern District of New York declined to comment on the reports.

Santos told the news outlet Semafor on Wednesday that he earned his wealth through “capital introduction” and “deal making” for “high net worth individuals.”

Santos admitted to The Post on Monday that he doesn’t own a house or apartment after claiming to have owned more than a dozen properties on the campaign trail. He also came clean about stiffing multiple landlords of rent payments