While serving as an SEC regulator, George Demos, Republican candidate for Congress in Long Island’s CD-1, was so cozy with the Wall Street banks that he felt the need to turn in a whistleblower to the bank the whistleblower worked for, which was the same bank Demos was supposed to be investigating.
It’s not surprising to those who know Demos’ history.
George Demos, a Pelosi-Republican, receives much of his funding from Democrats who don’t live on Long Island. The Washington Free Beacon covered the extensive financial backing Demos received from Pelosi-Democrats. It’s stunning. Click the link and see what I mean. Briefly, his father-in-law is in business with Nancy Pelosi’s husband and their company has ties to Progressives.
Mr. Demos is promoting his candidacy for Congress in CD-1 on Long Island for the upteenth time with lies and vicious attacks on a fellow Republican, Lee Zeldin.
Demos, who has a history of negative campaigning, recently manufactured a story in which his Republican opponent, State Senator Lee Zeldin, voted for Obamacare. It’s completely false and never happened.
Obviously, as State Senator, he couldn’t vote for or against The Affordable Care Act, and in New York, he fought against the ACA state expansion of Medicaid but Governor Cuomo used an Executive order to push it through. The only thing that would have satisfied Mr. Demos is if Senator Zeldin never voted for a budget again. Read more about that at the Long Island Exchange.
Demos has embraced the worst of political chicanery while pretending he is the non-politician politician. In his ads, he asks if we are ‘fed up’ with the ‘go along’ politicians.
“Voters of all political parties are fed up with the go along to get along politicians in Albany and Washington,” Demos Campaign Manager Kevin Tschirhart said. “This ad shows George Demos is not a politician. He’s one of us.”
Ironically, he is not one of us, but he is the epitome of what we don’t want in Congress.
Demos likes to laud his time at the SEC but he managed to miss the Bernie Madoff theft while it was going on. It is understandable though. He was busy hunting down an innocent whistleblower. While the SEC was investigating JP Morgan Chase, Demos was turning in the whistleblower who worked for Chase,. The whistleblower, Peter Sivere, saw irregularities at Chase and was trying to do the right thing.
Listen to this interview and the shocking exposé of the real George Demos, a George Demos who will not protect the people:
Unconscionable behavior, isn’t it?
Demos originally didn’t admit he was the lawyer who turned in Peter Sivere. His name had been redacted from the documents revealing the egregious leak, but he had to come clean after an investigation by POGO.
He then said he wasn’t guilty because he wasn’t actually his lawyer. Mr. Sivere thought the lawyer for the SEC to whom he was blowing the whistle would be under an agreement of confidentiality, wouldn’t you? Indeed, what Demos did is against SEC regulations.
The Office of the Inspector General conducted an investigation and Demos, whose name is redacted in the following statement from the OIG report, wrote that Demos “not only gave outside counsel for JPMorgan permission to use the non-public information about an informant against him, but actually encouraged such use.” It was referred for disciplinary action but politics stepped in and Demos quietly resigned from the SEC soon after.
Demos will tell you he was exonerated but that’s part of the political theater. You decide if it is unethical for an SEC lawyer to turn in a whistleblower – Peter Sivere – to the subject of the SEC investigation. Not only did he turn him in, he told opposing counsel to use the information against Sivere and counseled them on how they might use it.
George Demos is a good example of a government regulator aligned with the big Wall Street banks he was supposed to keep an eye on. It’s not surprising he is one of the SEC regulators who missed the whole Madoff thing.
He’s as political as one can get.