Rep.-elect George Santos (R-NY) told Semafor that he worked in the so-called “capital introduction” industry, which typically brings together investors and hedge funds.
“He eventually left that job for Harbor City Capital, a Florida firm the Securities and Exchange Commission accused in April 2021 of running a $17 million Ponzi scheme. Santos was not charged in the fraud, and he says he departed in March, shortly before the company ran into legal trouble, in order to strike out on his own. He incorporated Devolder in May, a few weeks after the S.E.C. filed suit against Harbor City.”
“Santos said that Devolder was also in the capital introduction business, including ‘deal building’ and ‘specialty consulting’ for ‘high net worth individuals.'”
The Hill: “Sizable personal loans from Santos to his campaign alongside a sharp jump in his reported personal wealth have led to questions about how he got his money.”
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