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Friday 6 OctOber 2023

Ex-treasurer for Rep. George Santos pleads guilty to conspiracy, tells

of bogus loan and fake donors

Continued from Front to dozens of local, state and handling his regulatory filings,
federal candidates. had unusual business ties to
Reading from a prepared Marks has faced questions Santos, according to public
statement, Marks also said about the congressman’s records.
she had provided the Feder- unusual campaign filings, In 2021, she was listed as
al Elections Commission with including a series of $199.99 being a member of a politi-
a fake list of people who had expenses, just below the le- cal consulting firm incorpo-
supposedly given money to gal limit for disclosure. Santos, rated in Florida, whose other
the campaign. in turn, has sought to pin the members included Santos’
“The donors, who are real blame for his unexplained company and people who
people, didn’t give me per- finances on Marks, who he had formerly been affiliated
mission to use their names,” claims “went rogue” without with an investment company
Marks said in court, his knowledge. that had been shut down by
Her plea agreement comes Rep. George Santos, R-N.Y., speaks to reporters just after While Santos has admitted the Securities and Exchange
with a recommendation that House Speaker Kevin McCarthy's last-ditch plan to keep the fabricating key parts about Commission over allegations
she serve 3 1/2 years to 4 government temporarily open collapsed, at the Capitol in his purported background that it was a Ponzi scheme.
years in prison. Washington, Friday, Sept. 29, 2023. as a wealthy, well-educat- When Santos was indicted,
Outside the courthouse, (AP Photo/J. Scott Applewhite, File) ed businessman, questions Marks wasn’t mentioned by
Marks’ lawyer said that while remain about what he did name in court filings. But the
his client had not formally wasn’t eligible. multiple apartments. Santos for work. Reporters had ques- indictment described an un-
entered into a cooperation An attorney for Santos, also lied about his heritage, tioned the source of more named political consultant
agreement with prosecutors, Joseph Murray, attended saying he was Jewish, when than $700,000 he initially who it said had helped dupe
she would be willing to testify the court hearing and said he wasn’t. claimed to have loaned his donors who gave money
against him if asked. afterward that he expected Santos has acknowledged campaign from his own per- that they thought was go-
“If we get a subpoena we’ll Marks was cooperating with embellishing his resume, but sonal fortune. ing to the campaign but was
do the right thing,” said the the government. A congres- has accused people of over- Santos has pleaded not instead siphoned off for San-
attorney, Ray Perini. He said sional spokesperson for San- reacting. guilty to charges he duped tos’ personal use.
Santos had “mentally se- tos declined to comment. Santos faces a 13-count fed- donors, stole from his cam- Marks is the second per-
duced,” his client. Marks resigned as Santos’ eral indictment centered on paign and lied to Congress son besides Santos to face
“There’s a manipulation in- treasurer amid growing ques- charges of money launder- about being a millionaire, charges in connection with
volved that had to do with tions about his campaign fi- ing and lying to Congress all while cheating to collect the campaign. In August,
her family and the death of nances and revelations that about his wealth in a finan- unemployment benefits he a former Santos fundraiser,
her husband,” Perini said, de- the Republican had fabri- cial disclosure. didn’t deserve. He has de- Sam Miele, was indicted on
clining to elaborate. “There cated much of his life story. Marks had not previously fied calls to resign. federal charges that he im-
were lies told.” After his election, news re- been charged. Thursday Besides Santos, Marks’ most personated the then-chief
Any such testimony could porters revealed that Santos marked her first appearance high-profile client was former of staff to GOP Rep. Kevin
be a severe blow to the had made up stories about in court. U.S. Rep. Lee Zeldin of New McCarthy of California, who
congressman, who faces where he went to college The investigation of Santos, a York, an ally of Donald Trump. at the time was the House
separate charges that he and where he worked, telling first-term congressman, has She was Zeldin’s bookkeeper minority leader.
embezzled money from his people he was a Wall Street also engulfed Marks, a key when he unsuccessfully ran Miele pleaded not guilty.
campaign, lied in financial dealmaker with a real estate behind-the-scenes figure in for governor in 2022. His attorney, Kevin Marino,
disclosures submitted to portfolio when he was ac- Long Island Republican poli- Marks, besides being re- had predicted that his cli-
Congress and received un- tually struggling financially tics who built a business as sponsible for keeping San- ent would be exonerated
employment funds when he had had faced eviction from a treasurer and consultant tos’ campaign books and at trial.q

The average long-term US mortgage

rate surges to 7.49%, its highest level

since December 2000

mortgage rate climbed to nancing their home loan, average rate on a 30-year
its highest level since De- also increased. The aver- mortgage is now more
cember 2000, further dim- age rate rose to 6.78% from than double what it was
ming the affordability out- 6.72% last week. A year two years ago, when it was
look for many would-be ago, it averaged 5.90%, just 2.99%.
homebuyers. Freddie Mac said. The combination of ele-
The average rate on the High rates can add hun- vated rates and low home
benchmark 30-year home dreds of dollars a month in inventory has worsened
loan rose to 7.49% from costs for borrowers, limiting the affordability crunch by
A sign announces newly built homes in Sudbury, Ma., on March 7.31% last week, mortgage how much they can afford keeping home prices near
12, 2023. On Thursday, Freddie Mac reports on this week's buyer Freddie Mac said in a market already out all-time highs even as sales
average U.S. mortgage rates. Thursday. A year ago, the of reach for many Ameri- of previously occupied
(AP Photo/Peter Morgan, File)
rate averaged 6.66%. cans. They also discourage U.S. homes have fallen
By Alex Veiga cost of financing a home Borrowing costs on 15-year homeowners who locked 21% through the first eight
Associated Press surged again this week as fixed-rate mortgages, pop- in rock-bottom rates two months of this year versus
LOS ANGELES (AP) — The the average long-term U.S. ular with homeowners refi- years ago from selling. The the same stretch in 2022. q