SEC v. Marco G. Santarelli

Marco G. Santarelli allegedly ran a multi-million-dollar investment scheme that defrauded hundreds of investors nationwide. According to the SEC, from at least June 2020 to June 2024, Santarelli, through his company Norada Capital Management, LLC, raised tens of millions of dollars through the sale of unsecured, high-yield promissory notes that Santarelli falsely described as having “strong capital preservation potential.” The SEC alleges that Norada’s investments were volatile and speculative, and by August 2023, Santarelli and Norada could no longer satisfy the returns they had promised to investors, and began making Ponzi-like payments in which investor returns were paid using funds obtained from new investors. The SEC alleges that in June 2024, Santarelli notified investors that Norada was suspending distribution payments to investors, and ceased operations by early 2025.

Summary generated from official Securities and Exchange Commission press release