Embattled Rep. George Santos (R-NY) is facing questions about his ties to an investment firm accused of running a “classic Ponzi scheme.”
Santos, who flipped his district from blue to red in November, has largely kept a low profile since a report in the New York Times last month revealed that he had lied during the campaign about his family, religion, education, work experience, sexuality, and perhaps even an animal rescue charity he allegedly founded. On top of bipartisan condemnation for his string of lies, Santos also faces multiple investigations, including one into discrepancies on financial disclosure forms.
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It appears that Santos was honest in presenting one portion of his resume. The truth-challenged lawmaker served as a director at the investment firm Harbor City Capital Corp. from January 2020 to April 2021. The company, according to a Securities and Exchange Commission complaint from the same month Santos left, bilked millions of dollars from its customers in what the agency described as a “classic Ponzi scheme.”
The complaint alleged that Harbor City promised investors annual returns of 10% to 60% and told investors their funds would be used to finance “customer lead generation campaigns,” and that reselling leads to other businesses would bring in cash. In reality, however, the money went toward…
