SEC Busts $102 Million Ponzi Scheme Targeting Financial Advisor Books Of Business

At the same time he was misappropriating investor funds, Santillo threw himself a party at a nightclub in Las Vegas for which he commissioned a song about himself to be played. The lyrics to that song refer to (Perry) Santillo as "King Perry" and describe his typical attire: "ten-thousand-dollar suit everywhere he rides." The song also depicts his lifestyle as follows: "pop the champagne in L.A., New York to Florida; buy another bottle just to spray it all over ya." – SEC Complaint The Securities and Exchange Commission filed an emergency enforcement action in a New York federal court, alleging that five men and their associated companies raised more than $100 million from hundreds of victims with promises of guaranteed returns.  Perry Santillo, Christopher Parris, Paul LaRocco, John Piccarretto, and Thomas Brenner, along with First Nationle Solution LLC ("First Nationle"), United RL Capital Services ("United"), and…

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