An upstate New York man who bilked at least 1,000 victims out of more than $100 million in a nationwide Ponzi scheme is sentenced to prison.
“However, Santillo abused the trust of those investors to finance his own self-interests. Because of the hard work of law enforcement to expose Santillo’s fraudulent scheme, he is facing the consequences of his actions, including going to prison,” said U.S. Attorney Ross.
U.S. Attorney Trini E. Ross announced on Jan. 14 that 41-year-old Perry Santillo of Rochester, NY, who was convicted of conspiracy to commit mail fraud, mail fraud, and conspiracy to launder money, was sentenced to serve 210 months in prison.
U.S. Attorney John J. Field stated that between January 2008 and June 2018, Perry Santillo conspired with Christopher Parris and others to obtain money through an investment fraud commonly known as a Ponzi scheme.
In 2007, Santillo and Parris, as equal partners, formed a business known as Lucian Development in Rochester, which raised millions of dollars from investors in Rochester and elsewhere. The prosecutors mentioned that they avoided detection by using a significant portion of new investments to pay off previous investors.
