Dec. 20 (UPI) — A Georgia man who defrauded victims out of more than $115 million in an “elaborate” Ponzi scheme was sentenced to more than 20 years in prison, the Justice Department announced Tuesday.
Christopher Parris, 42, and co-conspirator Perry Santillo led a network of scammers to trick investors, raising millions of dollars for more than a decade. In the beginning, they were based in Rochester, N.Y., where they formed a company called Lucian Development. They misappropriated funds raised from investors, using them instead to purchase at least 15 brokerage firms across the United States.
Parris currently resides in Lawrenceville, Ga.
The fraudulent business offered financial services and investors were offered a number of opportunities that were built on deception. Instead, funds were not used as intended and investors did not see appropriate returns. The scammers used the funding they generated to “finance lavish lifestyles,” expand the business and lure new investors.
Santillo was sentenced to 210 months in prison earlier this year.
Parris would eventually use the COVID-19 pandemic to his advantage, offering sales of N95 masks to potential customers, then failing to deliver the products. He pleaded guilty in a case that began in…
