Santos Lied About Company Accused Of Ponzi Scheme

CNN reports:

Republican Rep. George Santos, said a company later accused of running a “Ponzi scheme” was “100% legitimate” when it was accused by a potential customer of fraud in 2020, more than a year before it was sued by the US Securities and Exchange Commission. Once the company, where he worked, came under federal scrutiny, Santos claimed publicly that he was unaware of accusations of fraud at the firm, a CNN KFile review of Santos’ social media and statements found.

“The market instability is leading to sever (sic) capital erosion. @HarborCityCap offers you a strategy that mitigates loss and risk while creating cash flow, meanwhile your principle is 100% secured by an SBLC held by various major institutions. #fixedincome #alternativeinvestment #win,” Santos tweeted in April 2020 under the name George Devolder, using his mother’s family name. In fact, according to the SEC complaint, “at no point” was Harbor City Capital “ever issued a SBLC.”

Read the full article. Oh yes, there’s much more.

NEW: George Santos said that Harbor City Capitol, where he worked in 2020-2021 before the SEC froze its assets and accused it of being a “classic Ponzi scheme,” was “100% legitimate” in 2020 after a potential customer accused it of fraud https://t.co/s3mAWlvWB2

— em steck (@emsteck) January 13, 2023

Santos defended the company in a since-deleted tweet in the summer of 2020, undercutting his claim that he was unaware of accusations about the firm’s impropriety.

Santos’ lawyer maintains that Santos was unaware of wrongdoing at the company. pic.twitter.com/HwFEX7aqcQ

— em steck (@emsteck) January 13, 2023