Last Updated: March 2025 – Rochester, NY
Perry Santillo Jr. Investigation Summary
Here’s what you need to know about Rochester, NY, former stockbroker Perry C. Santillo Jr.:
- Name: Mr. Perry C. Santillo Jr.
- Current Status: Barred from the industry by regulators
- Prior Employers: Questar Capital Corporation; USAllianz Securities, Inc.; Nationwide Securities, Inc.; NYLife Securities Inc.
- Function: Stockbroker / Financial Advisor
- Primary Location: Rochester, NY
- CRD#: 4623850
- Sanctioned by FINRA/SEC/State Regulators? Yes
- Restitution Ordered: $102,952,582
- Criminal Convictions: Yes
If you’ve sustained damages from Mr. Santillo, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Perry Santillo Jr. As Your Stockbroker?
Perry Santillo Jr. has been named in multiple enforcement actions, civil proceedings, and criminal complaints related to one of the largest Ponzi schemes in recent U.S. history, defrauding investors out of more than $102 million between 2011 and 2017 according to regulatory filings.
On August 28, 2024, the SEC issued a final bar against Santillo in a public administrative proceeding (SEC Docket No. 3-22039), based on findings that he ran a fraudulent investment scheme, convincing hundreds of clients—mostly elderly retirees—to move funds into sham entities controlled by him and his associates.
He was criminally convicted in 2019 for conspiracy to commit mail fraud and conspiracy to launder money and was sentenced in January 2022 to 210 months in federal prison, followed by supervised release. The court ordered Santillo to pay restitution of $102,952,582.
Allegations of Broker Misconduct Against Perry Santillo Jr.
Perry Santillo Jr. has been the subject of severe regulatory and civil actions due to the following misconduct:
- Ponzi Scheme and Fraudulent Securities Sales: According to the SEC and the Nevada Securities Division, Santillo orchestrated a nationwide Ponzi-like scheme in which he and his associates acquired books of business from retiring investment professionals, then induced those clients to liquidate legitimate investments and move funds into shell entities. The funds were misappropriated, used for lavish personal expenses, and to pay earlier investors in Ponzi-like fashion.
- Violations of Securities Laws: The SEC charged Santillo with violations of the Securities Act of 1933, the Securities Exchange Act of 1934, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. He was permanently enjoined from violating these laws under SEC Final Judgment entered April 17, 2024.
- State Regulatory Action (Nevada): On April 26, 2019, Nevada barred Santillo from selling securities or providing advisory services in the state. The order cited a bait-and-switch scheme involving promissory notes and violations of NRS 90.570, which prohibits deceptive and fraudulent conduct in securities offerings.
- Permanent Bars: Santillo has been permanently barred from acting as or associating with a broker, dealer, investment adviser, municipal advisor, transfer agent, or participating in any penny stock offering.
The Financial Industry Regulatory Authority (FINRA), along with the SEC and state regulators, requires full disclosure of criminal, civil, and regulatory proceedings. Perry Santillo’s record reflects a high volume of egregious activity across multiple jurisdictions, resulting in significant investor harm.
Recover Your Investment Losses Now With Rex Securities Law
Other investigation of Questar Capital brokers
If you have suffered investment losses in an account handled by Perry C. Santillo Jr., contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.