Former Treasurer for Congressman George Santos Admits to Conspiracy, Reveals False Loan and Fabricated Donors

The previous treasurer for U.S. Representative George Santos confessed on Thursday to a charge of conspiracy to commit fraud and implicated the indicted New York Republican in an elaborate plot to inflate his campaign’s financial statements with a non-existent loan and counterfeit donors.

Nancy Marks, who had been a key advisor to Santos during his two bids for Congress, entered her guilty plea at a federal court in Long Island. Marks has been a significant player in political operations on the island for many years, serving as a bookkeeper for several electoral candidates.

In her dialogue with the presiding judge, Marks sketched out a deceptive scheme aimed at deceiving Republican Party decision-makers into endorsing Santos. At that point in time, Santos had previously lost a congressional race and was having difficulty securing monetary backing for a subsequent attempt.

According to Marks, in an effort to win over party higher-ups, Santos filed misleading campaign financial statements that falsely claimed he had personally loaned $500,000 to his campaign. In truth, Santos neither had such funds nor had made any such loan. This fabricated loan served to enhance Santos’ apparent wealth and also allowed him to meet fundraising benchmarks needed for receiving support from a national Republican committee.

In a prepared statement, Marks further disclosed that she had submitted to the Federal Elections Commission a false list of purportedly large donors to the campaign. The prosecution stated that this list included names of several family members belonging to both Santos and Marks.

“The donors are actual individuals but had not granted me authorization to include their names,” stated Marks during the court proceedings.

Her plea deal includes a sentencing recommendation of 3.5 to 4 years of incarceration.

Ray Perini, the attorney representing Marks, stated outside the courthouse that while his client had not officially agreed to cooperate with the prosecution, she would be open to testifying against Santos if summoned.

“Should we receive a subpoena, we will act appropriately,” Perini said. He also mentioned that Santos had “psychologically manipulated” his client, hinting at familial and emotional factors, although he declined to go into specifics.

Any such testimony from Marks could severely jeopardize Santos, who is currently facing a separate 13-count federal indictment. He is accused of deceiving donors, misappropriating campaign funds, submitting dishonest financial disclosures to Congress, and receiving unemployment benefits under false pretenses. Santos has resisted calls for his resignation.

Joseph Murray, Santos’ attorney, was present at the hearing and later indicated that he assumed Marks was cooperating with federal authorities. A spokesperson for Santos in Congress refrained from commenting.

Although the criminal complaint against Marks did not directly implicate Santos, prosecutors did label him as a “co-conspirator.”

Marks stepped down as Santos’ treasurer amid increasing inquiries into his campaign’s financial integrity and after revelations surfaced that he had fabricated significant portions of his personal history.

Post-election investigations by journalists disclosed that Santos had lied about his educational and employment history, falsely claiming to be a Wall Street entrepreneur with an extensive real estate portfolio, while in fact struggling financially and facing eviction from multiple residences. Santos also falsely claimed Jewish heritage.

Santos, serving his first term in Congress, has conceded to embellishing his credentials but accuses critics of overreacting.

Marks had previously faced questions over unorthodox entries in Santos’ campaign accounts, including numerous expenditures just below the legal threshold for disclosure.

Marks had not been previously charged, and this marks her first court appearance.

A well-known figure in Long Island’s Republican political landscape, Marks also served as a treasurer and consultant for several other candidates at the local, state, and federal levels, including former U.S. Rep. Lee Zeldin of New York.

Public records indicate that Marks had unique business connections to Santos, including membership in a Florida-incorporated political consultancy firm, which also listed Santos’ company and associates from an investment firm previously shut down by the Securities and Exchange Commission for Ponzi scheme allegations.

Marks is the second individual, apart from Santos, to be criminally charged in relation to the campaign. Sam Miele, a former fundraiser for Santos, was indicted in August on federal charges of impersonation. Miele has pleaded not guilty.

Kevin Marino, Miele’s attorney, has expressed confidence that his client will be vindicated at trial.

Frequently Asked Questions (FAQs) about Nancy Marks Guilty Plea

More about Nancy Marks Guilty Plea

• George Santos’ Separate 13-Count Federal Indictment
• The Federal Election Commission’s Role in Campaign Finance
• Understanding Fraud Conspiracy Charges
• U.S. Federal Sentencing Guidelines
• A Brief History of Political Scandals Involving Campaign Finance