Rochester man who ran Ponzi scheme ordered to pay back $102 million
ROCHESTER, N.Y. (WHEC) – A Rochester man convicted of running a Ponzi scheme is heading to prison and ordered to pay back more than $100 million.
41-year-old Perry Santillo was convicted of conspiracy to commit mail fraud, mail fraud and conspiracy to launder money. He was sentenced to 210 months in prison.
The U.S. Attorney’s office says between 2008 and 2018, Santillo conspired with others through a business known as Lucian Development to solicit investments which were in turn used to pay off other expenses. Eventually the scheme collapsed, costing 1,000 victims $102,952,582.77.