U.S. Rep. George Santos pleads not guilty to charges he embezzled from his campaign. He will be released on $500,000 bond.
Santos, 34, was elected to Congress last fall after. He told people he was a wealthy Wall Street dealmaker with a substantial real estate portfolio who had been a star volleyball player in college, among other things.
In a financial disclosure form, Santos reported making $750,000 a year from a family company, the Devolder Organization, but the charges unsealed Wednesday allege that Santos never received that sum, nor the $1 million and $5 million in dividends he listed as coming from the firm. Emails to prospective donors falsely claimed that the company was formed “exclusively” to aid Santos’ election bid and that there would be no limits on how much they could contribute, the indictment said. Santos falsely claimed that the money would be spent on television ads and other campaign expenses, it said.
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