New York Republican congressman George Santos has been charged with fraud, money laundering, theft of public funds, and false statements, following a five-month investigation. The charges were revealed after a grand jury returned a 13-count indictment on Tuesday. US Attorney for the Eastern District of New York, Breon Peace, stated that Santos had used political contributions for personal expenses, falsely claimed unemployment benefits, and deceived the House of Representatives and the public about his financial state.
Santos's purported 'rags-to-riches' story was challenged by local media, who noted an unexplained increase in his net worth from zero in 2020 to $11.2 million in 2022. His life story, including his education and previous roles at Goldman Sachs and Citigroup, were debunked by the New York Times after his election. Santos has downplayed these inaccuracies as "embellishments" of his resume. However, false statements on his campaign finance reports raised the attention of the Justice Department.
Santos claimed his income came from his role as managing principal at the Devolder Organization, a firm he said was named after his mother's family. He also reported working for Harbor City Capital, a firm closed by the Securities and Exchange Commission in 2021 for operating a Ponzi scheme. His campaign spending was also questioned, with his campaign reporting expenditures of exactly $199.99 on 37 items, just under the threshold requiring receipts.
Santos is the fifth Republican member of Congress to face federal charges since 2017. This comes at a difficult time for House Republicans, who have a slim majority of only five seats. House Speaker Kevin McCarthy has stated that he would ask Santos to resign if convicted. If Santos is forced out, a special election will be held within three months to fill his seat, as determined by New York Governor Kathy Hochul.
