Perry Santillo, Christopher Parris, Paul LaRocco, John Piccarreto, Thomas Brenner Allegedly Operated a $102 Million Via the Sales of Securities in Issuers of Three Companies they Controlled
Five men allegedly defrauded 637 investors in a $102 million Ponzi scheme nationwide. The Goldman Scarlato & Penny investor rights lawyers Alan Rosca and Paul Scarlato have launched an investigation into the alleged scam to identify potential loss recovery options on behalf of investors.
The five men, Perry Santillo, of Rochester, NY, Christopher Parris, also of Rochester, Paul LaRocco, of Ocala, FL, John Piccarreto, of San Antonio, and Thomas Brenner, of Orville, OH, allegedly operated their scheme via the sales of of securities in issuers they controlled, including First Nationle Solution LLC, United RL Capital Services, and Percipience Global Corp., according to an SEC Report under review by attorneys Alan Rosca and Paul Scarlato.
The aforementioned individuals allegedly told investors that their cash would be put into said companies, and some investors were even guaranteed dividends or double-digit returns, the SEC notes.
In reality, Santillo and Parris orchestrated a Ponzi scheme with the help of their unscrupulous salesmen, the SEC alleged. The vast majority of the money was misused and stolen, according to the SEC.
Perry Santillo, Christopher Parris, Paul LaRocco, John Piccarreto, Thomas Brenner Allegedly Made $38.5 Million in Ponzi-like Payments & Spent $20 Million on Personal Expenses
Santillo, Parris, LaRocco, Piccarreto and Brenner, rather than investing investors’ cash into said companies, allegedly paid $38.5 million in Ponzi-like payments, made transfers of much of the remainder in transactions that appear unrelated to the issuers’ purported businesses, and spent $20 million for personal expenses, according to the aforementioned SEC Reports under review by attorney Alan Rosca.
As a result, the SEC filed charges and took out an asset freeze against the individuals and companies involved, the SEC states.
SEC filed a complaint in federal district court in Manhattan, which charges Santillo, Parris, LaRocco, Piccarreto, Brenner, and the three issuers with violating the antifraud provisions of the federal securities laws, and the court has granted the SEC’s request for an asset freeze and a temporary restraining order, the SEC notes.
Securities Lawyer Investigating on Behalf of Investors
The investor rights lawyers at Goldman, Scarlato & Penny law firm often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Perry Santillo, Christopher Parris, Paul LaRocco, John Piccarreto, Thomas Brenner, First Nationle Solution LLC, United RL Capital Services, & Percipience Global Corp.’s alleged Ponzi scheme.
The focus of their investigation is to identify potential recovery options for the victimized investors, in addition to any recovery obtained by the SEC from the primary defendants, which recovery is expected to be modest. The main focus of attorneys Rosca and Scarlato’s investigation is to identify third parties that may have helped the alleged fraud perpetrated by Santillo, Parris, and their associates, and that may be liable to investors as a result of their culpable assistance.
One particular area – although not the only one – that attorneys Rosca and Scarlato are investigating is whether investment professionals helped recruit investors to invest in Santillo & Parris’ scheme. Investment professionals who recommend bad investments to their customers may be liable for investor losses if they failed to adequately vet the investments before recommending them.
Attorneys Rosca and Scarlato are also investigating other potential recovery options, and have considerable experience going after third parties who assisted in the perpetration of fraudulent investment schemes.
The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
What Investors Can Do
Investors who are concerned that they may have lost money as a result of their investments with Perry Santillo, Christopher Parris, Paul LaRocco, John Piccarreto, Thomas Brenner, First Nationle Solution LLC, United RL Capital Services, and/or Percipience Global Corp.’s alleged Ponzi scheme are encouraged to contact securities attorneys Alan Rosca and Paul Scarlato with any useful information or for a free, no-obligation discussion about their legal options, at 888-998-0530, via email at email@example.com or firstname.lastname@example.org, or through the contact form on this webpage.