George Santos Pleads Guilty, Admits Misusing Campaign Funds

(Bloomberg) — Former US Representative George Santos, who lied about working at Goldman Sachs Group Inc. and Citigroup Inc. while running for Congress, pleaded guilty to fraud charges over his personal use of campaign funds. 

The New York Republican, once seen as a rising star in the party, appeared in court in Central Islip, New York, to plead guilty to federal wire fraud and identity theft charges. The federal charges stemmed from allegations that he used funds from his campaign to subsidize a lavish lifestyle.

“I understand my actions have betrayed the trust of my supporters and constituents,” Santos said at a hearing Monday, his voice wavering at times. “I deeply regret my conduct.”

Santos, who will be sentenced Feb. 7, had faced as long as 22 years behind bars after being charged with wire fraud, money laundering and theft of public funds. US District Judge Joanna Seybert said that he faces a minimum of two years in jail on the identity theft charge, but as long as 87 months on both counts. 

He also agreed to pay restitution of almost $374,000 and is subject to a forfeiture order of more than $205,000. The plea came just weeks before a trial that was scheduled to start next month.

Santos’ brief political career began to unwind following revelations that he’d lied about his resume and much of his life story when making his pitch to voters in New York’s 3rd district, a string of bedroom communities in Queens and Nassau County on Long Island that’s among the wealthiest districts in the US.

But it was his financial wrongdoing that brought legal peril. In a 23-count indictment, federal prosecutors said he solicited contributions to a shell company that operated as an illegal super-PAC, and stole the personal and financial information of contributors to his campaign. They also said he claimed unemployment benefits he was not entitled to and failed to properly disclose sources of income.

Lawyers for Santos, 36, are likely to seek leniency for the ex-lawmaker, pointing to his decision to admit guilt and spare the court from the time and expense of a trial. 

Santos was expelled from Congress on Dec. 1 after the House Committee on Ethics found “substantial evidence” he broke the law. In February, Democrat Tom Suozzi won the race to succeed Santos, retaking a seat he previously held and narrowing the GOP’s razor-thin majority. Santos in March mused about a return to politics, a plan that’s now in doubt following his guilty plea.

Santos, the son of Brazilian immigrants, said he believed he could transcend what he called an “old White man’s party” and described himself as “the full embodiment of the American dream.” But his resume crumbled under scrutiny. He never graduated from Baruch College — or played on its championship volleyball team. His mother did not die in the 9/11 terrorist attack on the World Trade Center. And the Jewish identity he espoused on the campaign trail turned out to be, in his words, merely “Jew-ish.”

“From day one, we made the case that George Santos had no business serving in the House of Representatives and needed to be held accountable for his crimes,” Representative Robert Garcia, a California Democrat, said in a statement. 

–With assistance from Billy House.

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