Federal prosecutors say a Rochester man has pleaded guilty to running a nationwide Ponzi scheme that began in Rochester. Perry Santillo is accused of working with four others to defraud about a thousand investors out of more than $100 million.
Santillo pleaded guilty to stealing millions from his investors and using the money in part to fund a “lavish lifestyle”…according to Assistant U.S. Attorney John Field. Field says he also spent thousands to have a song written about himself.
Santillo pleaded guilty to multiple counts of fraud, conspiracy and money laundering.