Mystery Deepens Around George Santos’s $700,000 in Campaign Loans

Author: Yuvi January 25, 2023

Mystery Deepens Around George Santos's $700,000 in Campaign Loans


Saurav Ghosh, a former FEC lawyer who is the center’s director of federal campaign finance reform, said that its staff was reviewing the amended filings, which run hundreds of pages. But, he said, so far, he and other employees said that the issues raised in their complaint had not been addressed.

According to financial disclosures that Mr. Santos filed as a candidate, he claimed that in just a few years, he went from earning $55,000 a year to owning and managing a company, the Devolder Organization, worth more than a million dollars.

In a radio interview last month, Mr. Santos said the money came from his work at the Devolder Organization, which he said has involved “deal building” and “specialty consulting” for wealthy clients.

But Mr. Santos has not fully disclosed his clients or provided more detail about his income. When asked about the source of the loan earlier this month on the conservative podcast “Bannon’s War Room,” Mr. Santos deflected, saying that he had worked hard and that it “didn’t come from Ukraine, Russia or China.”

Before last year, Mr. Santos had already lent his campaign $80,000, according to the campaign filings. He then gave his campaign $500,000 on March 31, 2022, and another $125,000 on Oct. 26.

The $500,000 loan in March is reported on all six campaign filings that Mr. Santos has been required to submit so far this year, as well as on the amended versions his campaign filed on Tuesday. Nearly all of the filings indicate that the $500,000 came from his personal funds; the one exception is the amended filing for the first quarter of 2022.

Clarity over the $125,000 loan in October was also lacking. In a campaign filing after the election, Mr. Santos gave little information about the loan. But in the amended filing from Tuesday, Mr. Santos’s campaign did not check the box indicating that the $125,000 came from his personal funds.

Author: Yuvi

My name is Yuvi, I work as Sub Editor at newscinema.in

25 January, 2023, 7:01 am

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Wednesday, 25th January 2023

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