Republican congressman George Santos suspected of working for a pyramid scheme

Elected to the House of Representatives from the state of New York, George Santos worked for two years in a company that was recognized as a pyramid scheme and against which a lawsuit was filed by the US Securities and Exchange Commission (SEC). About it informs The Wall Street Journal, citing informed sources.

34-year-old George Santos, recently elected to the US House of Representatives from the Republican Party, scandalously famous the fact that the facts in his resume, compiled specifically for the election campaign, do not match his real life. After the facts of “embellishment” of the resume became public knowledge, the experts began to analyze in detail the biography of the young congressman.

It turned out that in 2020-2021, George Santos worked at the financial company Harbor City Capital, his task was to attract new investors. In one of Harbor City Capital’s press releases in 2020, it was noted that Mr. Santos will be appointed as the company’s regional director in New York, will represent the company’s interests in contacts with the company’s US and foreign representative offices, institutional investors and wealthy clients. The company offered investments at 20% per annum and claimed that it gives a 100% guarantee of reliability. Santos himself, in an interview in 2020, advertised Harbor City Capital, stating that he manages $ 1.5 billion in this company, guaranteeing from 12% to 26% of income. He also claimed that he had already raised almost $100 million for the company and invested his own money in it.

However, in April 2021, the SEC filed a complaint against Harbor City Capital and accused its founder, Jonathan Maroney, of making $17.1 million by defrauding more than 100 investors. According to the SEC, this company is a typical pyramid scheme. Now Harbor City Capital is under external management, and an investigation is underway into the creation of a financial pyramid. The lawsuit does not name any other former employees of the company, including George Santos.

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Alena Miklashevskaya

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