A Democratic congressman from New York is asking federal and state investigators to examine whether embattled freshman Rep. George Santos violated securities law during his time working for a Florida-based investment firm.
In letters to the Securities Exchange Commission, the New York attorney general’s office, and the New York State Department of Financial Services, Bronx Rep. Ritchie Torres wrote “there is reason to believe that [Santos] operated as a broker… without registering as one with the SEC — a clear violation of federal securities law.”
In the letters, first obtained by Spectrum News NY1, Torres raises concerns about Santos’ time with Harbor City Capital, where the Washington Post reports he was tasked with finding investors in the New York City area.
Torres urged the agencies to “investigate Mr. Santos for operating as an unregistered broker who raised funds from unsuspecting investors.”
NEW: @RepRitchie is calling on the @SECGov, NY Attorney General, and NYS Department of Financial Services to investigate whether Rep. George Santos broke securities law while working for Harbor City Capital.
— Kevin Frey (@KevinFreyTV) February 1, 2023
Read the letters, first obtained by @NY1 👇 pic.twitter.com/nVgH2AKnBN
In 2021, the SEC accused the Harbor City Capital of running a Ponzi scheme, defrauding investors of millions. Earlier this month, Santos’s attorney told CNN that the congressman “was completely unaware of any illegal activity going on” at the company.
“Even though there is no evidence implicating him in the Ponzi scheme, there’s ample evidence of George Santos operating as a broker without a license,” Torres said in an interview.
Spectrum News NY1 reached out to Santos’s lawyer for comment regarding Torres’ letters but has not yet received a response.
The letters come as questions about Santos’ biography and campaign finances pile up. Earlier this month, Torres joined fellow New York Democrat Rep. Dan Goldman to call on the House Ethics Committee to look into Santos’ campaign finances and specifically his financial disclosures.
Other New York Democrats — including Reps. Joe Morelle, Pat Ryan, and Gregory Meeks — have urged House Speaker Kevin McCarthy to restrict Santos’ access to classified materials, arguing he presents a national security threat.