Congressman-elect Santos’ finances under scrutiny

(CNN) - Embattled New York Republican Congressman-elect George Santos is facing new scrutiny.

Reporting from The New York Times shows his campaign finances had dozens of expenses just one cent below the Federal Election Commission's threshold. This means they were never reported.

Plus, there are even more questions on how he obtained his wealth.

"We stand here today, watching this slow George Santos train wreck take place," New York State Assemblymember Chuck Levine spoke.

New York Congressman-elect George Santos facing continued scrutiny after he admitted to lying about key parts of his biography.

"Now, it's going to be incumbent on me to deliver on those results. I look forward to serving my district," Santos said.

Campaign disclosure

The New York Times reporting late Thursday night, details found on Santos' campaign disclosure forms.

One of them is a company called Cleaner 123. The company received $11,000 from his campaign and listed as an "apartment rental for staff."

But, the address listed is a home on long island, the Times reports, where neighbors say they saw Santos and his husband coming and going.

Also reported, dozens of expenses of $199.99, one cent below the amount at which federal law requires receipts.

In addition, travel expenses have exceeded more than $70,000.

It's also not clear if the spending was allowed under campaign finance rules.

To this end, an attorney for Santos tells the New York Times:

"Campaign expenditures for staff members including travel, lodging, and meals are normal expenses of any competent campaign. The suggestion that the Santos Campaign engaged in any irresponsible spending of campaign funds is just ludicrous."

Prosecutors are investigating

"Where and how did he get this money?" CNN Senior Legal Analyst Elie Honig spoke.

A source tells CNN federal prosecutors are investigating the finances of the incoming Republican congressman.

Santos has also faced questions over his wealth and loans, totaling more than $700,000 he made to his successful 2022 campaign.

In a 2022 financial disclosure, Santos listed a salary of $750,000 for the years 2022 and 2021 at the Devolder Organization, a family firm that was described as handling $80 million in assets.

The firm, registered in Florida, has no Linkedin profile or website, and the state temporarily deemed the firm inactive.

But now, records show that the firm was reinstated on December 20th.

"I'm not a criminal. I've committed absolutely no crime," Santos pressed.

Legal road ahead

In an interview with Semafor, Santos said he made his money through "capital introduction" and "deal making" for "high net worth individuals."

"If you intentionally make a false statement about your assets or anything that matters, then that too could be a federal false statements crime," Honig continued.

The legal road ahead for Santos could be treacherous, and there are already calls for him to resign from Congress.

"There's going to be so much pressure on him to leave," said John Kasich, former Republican Governor of Ohio.

Santos was charged with embezzlement in a Brazilian court in 2011, according to case records.

But they also show how the charge was archived after court summons went unanswered, and they could not locate Santos.

However, Santos has denied ever being charged with a crime in Brazil.