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George Santos now says campaign loan was not from personal funds

Rep. George Santos, RN.Y., made a significant revision to his 2022 campaign materials on Tuesday by clarifying that a $500,000 loan he gave to the campaign did not come from his personal funds.

The initial filing in September included a ticked box indicating that the large loan came from the “candidate’s personal funds”. In the new case, which was first reported by the Daily Beast, this box is unchecked.

The amended filing, however, does not provide any new information about the source of the funds – it only states that the loan came from the candidate but was not his personal money.

Around $150,000 in loans are still listed as coming from his personal funds. A separate filing shows a new loan of $125,000 from Santos in October but not from his personal funds.

In an interview last month with WABC radio, Santos said the loans were money “that I paid for myself” through the Devolder organization, his company.

When he first ran for Congress in 2020, Santos said on a campaign finance form that he made $55,000 a year. Campaign materials from last year indicated that he made millions of dollars in 2021. He told the Semafor news site last month that he made his money legitimately through the activity of “ introduction of capital” of his company.

A spokesperson for Santos’ congressional office said he “does not comment on the campaign or personal matters.”

Law enforcement sources said last month that federal prosecutors in Brooklyn have opened an investigation into Santos and are reviewing his finances, including potential irregularities involving financial disclosures and loans he made to his campaign.

He is also being investigated by the Nassau County Attorney’s Office, and the state attorney general’s office said it is “investigating a number of issues” regarding Santos.

Santos has come under intense scrutiny after a bombshell New York Times investigation published last month showed that much of his resume appeared to have been fabricated, including claims that he had numerous properties, was previously employed by Goldman Sachs and Citigroup and had attended and graduated from Baruch College. .

Santos acknowledged some of the fabrications while trying to downplay them. He told the New York Post last month, “My sins here embellish my resume. I am sorry.”

While some of his fellow Republicans demanded his resignation, the GOP Steering Committee, led by Chairman Kevin McCarthy of California, voted to give him two positions this month – one on the science committee, space and technology, the other on the Small Business Committee.

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