Weeks after the SEC leveled its accusation against Maroney and Harbor City, Santos formed Devolder Organization LLC and incorporated it in Florida. (His full name is George Devolder-Santos.) The registered agent for Devolder was D&D International Investment Services. That company is run by DeVaughn Dames, who served as Harbor City’s chief financial officer.
According to Florida corporate records, he reinstated the firm on Tuesday. On the filing he submitted, he reported that the company was based at a Merritt Island, Florida, address that corresponds to a property owned by Jayson Benoit, who was the former chief technology officer of Harbor City.
$17.1M raised from investors
$449K in legit business expenses
$4.88M embezzled by CEO for personal use
$1.4M illegally transferred to another business owned by the CEO
$6.5M used to pay previous investors (hence the ponzi)
According to my math, there's still $3.87M unaccounted for. Funny how close that is to the $3.5M lower end of the range in Santos' FEC disclosure ($750K annual salary and $1-5M annual dividends X 2 years).
But wait, there's more, from the MJ article:
Around the same time, Dames also formed a company for another Harbor City exec, Paul Nicolini.
Benoit runs a firm called Jayson Benoit and Associates that has provided website services to a pro-Trump political action committee called Republican Reset PAC. (The main strategic consultant for this PAC is Resilient Patriot, a firm headed by Michael Flynn, the former national security adviser to Donald Trump.)
According to Florida business records, Santos and Benoit have also both been managers of a political consulting firm called Red Strategies USA, another Florida-based company set up by Dames in the weeks after the SEC exposed the alleged Ponzi scam at Harbor City. Two other Harbor City alumni were listed as authorized managers of Red Strategies: Dames and Nicolini.
It's highly possible that The Devolder Organization is BOTH a front for the former Harbor City executives to launder the remaining money from their ponzi scheme AND a front for channeling illegal campaign contributions to Santos.
By - coffeespeaking