Republican Congressman George Santos Faces Charges in 'Nigerian Prince' Crypto Scam

A GOP lawmaker is facing an indictment for his purported involvement in a deceptive crypto scheme known as the "Nigerian Prince" fraud.

What Happened: George Santos, a U.S. representative from New York, has been charged for allegedly perpetrating a scheme that resembles the classic "Nigerian Prince" email fraud, the New York Times reported. 

According to the newspaper, Santos and two associates approached a wealthy investor with a proposal to help a Polish citizen unfreeze funds to purchase crypto assets.

The investor grew skeptical right away, as the identity of the Polish investor was kept secret, and the plan involved the investor creating a limited liability company to access the frozen funds, which seemed illogical, the Times reported. The group did not directly request money from the affluent investor.

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The investor, who preferred to remain anonymous, told the Times that his encounter with Santos and his associates left him questioning their motives. The nature of the interaction led the investor to even suspect that Santos and his associates could have been targets of a con themselves.

The situation reportedly escalated when the investor was asked to sign a nondisclosure agreement. When he expressed concerns and requested modifications, the outlet reported that all communication between him and Santos came to an abrupt halt.

The charges brought against Santos are nothing short of serious, encompassing 13 felonies. Among them are allegations of misleading representation of his earnings, embezzlement of campaign funds and unemployment fraud.

Maintaining his innocence, Santos pleaded not guilty. However, the consequences could be dire if he is convicted of the charges, with a potential prison sentence of up to 20 years.

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