December 7, 2023
By Ivan Moreno (January 14, 2022, 5:19 PM EST) — A New York investment manager has received a 17½-year prison sentence for leading a massive Ponzi scheme prosecutors said conned at least 1,000 investors out of $115.5 million over 10 years.

The sentence was the minimum federal prosecutors asked for Perry Santillo, a man they described as “pathetically self-indulgent with his victims’ money,” alleging he spent lavishly on custom-made clothing and Las Vegas parties where he commissioned a rap song called “King Perry” in honor of himself.

U.S. District Judge Frank P. Geraci Jr. handed down the sentence Thursday and ordered Santillo to pay nearly $103 million in restitution.

Santillo pled…

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