George Santos Raised funds for enterprise the SEC Says become a Ponzi Scheme - WSJ - The Wall road Journal

WASHINGTON—Embattled Rep. George Santos persuaded at least one adult to make a six-determine investment in a Florida-primarily based business that the U.S. Securities and alternate commission later spoke of become a Ponzi scheme, in response to people time-honored with the be counted and files seen through The Wall highway Journal. 

Mr. Santos turned into employed in 2020 to raise capital for the company, Harbor metropolis Capital, and landed as a minimum one big funding from a prosperous investor, the individuals noted. When the investment didn't carry on the promised returns, in line with one of the vital people, Mr. Santos sought to reassure the investor by means of asserting he had in my view raised very nearly $a hundred million and had invested his personal family's money in Harbor metropolis. 

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