George Santos' "Devolder Organization" is very shady
“He went from essentially no money in 2020 to millions in 2022,” Libowitz noted.
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Santos’s financial situation becomes murkier upon closer examination of his company. The incoming congressman created the Devolder Organization in May 2021, just weeks after his prior employer, Harbor City Capitol, was accused of running a Ponzi scheme by the Securities and Exchange Commission. Santos was not implicated in and has denied any knowledge of the scheme.
It remains unclear what exactly Devolder is, as little information exists online about the company and Santos has given several different explanations as to its function. On his campaign website in 2021, Santos described the company as his “family’s firm” and claimed to oversee assets worth $80 million there.
However, in an April interview with the Daily Beast, Santos suggested that he created the Devolder Organization to help former Harbor City employees “who were left adrift.”
On his 2022 financial disclosure form and in a recent interview with Semafor, Santos described Devolder as a capital introduction business that included “deal building” and “specialty consulting” for “high net worth individuals.”
Santos also suggested to Semafor that the Devolder Organization explained his rapid accumulation of wealth, saying he “landed a couple of million-dollar contracts” within the company’s first six months.
The Devolder Organization was dissolved in September of this year for failing to file an annual report. However, after the Times’s Dec. 19 report about Santos, the company was reinstated on Dec. 20, according to the Florida Department of State.
“We don’t know very much about this business that he said he created, made millions off of, then folded,” Libowitz noted. “It doesn’t seem to have had any footprints anywhere.”
Libowitz and Ghosh both suggested there is a possibility the company was not legitimate and was used to get around campaign finance limits.
https://thehill.com/homenews/house/3792626-scrutiny-turns-to-george-santoss-campaign-funding/
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George Santos is Art Vandelay...
