U.S. Congressman George Santos Reportedly Involved in Crypto Scam Resembling Nigerian Prince Scheme: NYT

A New York Times (NYT) report has revealed how United States Congressman George Santos used his political connections to promote a crypto-get-rich scam deal. According to the NYT report, the first-term House member together with three Republican supporters teamed up to propose a potentially lucrative opportunity to a loyal campaign donor.

As part of their scheme, Santos and his allies claimed that a wealthy Polish citizen wanted to purchase crypto but for some unknown reasons, his funds were frozen in a bank account.

The wealthy donor as well was approached to help. The bad actors suggested that the campaign donor create a limited liability company to supposedly help gain access to the fund. However, the donor exhibited some level of skepticism especially as he was not told the name of the said Polish investor.

At the same time, their suggestion to establish a company did not make much sense to him. He was quick to recognize how familiar their plot was to the popular Nigerian Prince email scheme even though they were yet to directly request funds from him. The classic Nigerian Prince email Scam involves a fictitious rich foreigner who claims his assets are frozen and then asks for help from an outsider to unfreeze his frozen account.

Notably, he suspected that Santos and his colleagues were the targets of the scam. When he requested more information, he was asked to sign a non-disclosure agreement before any information would be released to him. Names like Michael LiPetri, Dominick Sartorio, and others appeared on the NDA, and these persons were associated with Santos.

LiPetri has claimed he is not involved and Santos’ lawyer argued that his client only made the introductions between LiPetri and Sartorio’s firm.

Congressman Intermingles Politics and Business

Santos has exhibited some questionable behaviors in the past. Since he first ran for House in 2020, he has reportedly been seeking means to make money from politics.

The current outrageous Polish crypto deal is a clear indication of how the Congressman does not mind intermingling political relationships and business opportunities. Looking at a review of his political career, this character has raised ethical red flags.

Three years ago when the Covid-19 pandemic hit, Santos was seen to be associated with Blue Flame Medical, a new company selling coronavirus testing kits founded by two well-connected GOP operatives. Santos was billed to earn a 10% Commission as a consultant for every deal he orchestrates.

He later left the firm after recording no sales. The politician went on to establish a political consulting company with his campaign treasurer Nancy Marks and some of his former colleagues.

Currently, Santos is being sued for thirteen felonies including embezzling contributions from supporters, fraudulently collecting unemployment checks and lying in disclosures to the House.