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SEC halts $102M Ponzi scheme

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The U.S. Securities and Exchange Commission announced it put a stop to a $102 million Ponzi scheme.

The SEC sued Perry Santillo, Christopher Parris, Paul Anthony LaRocco, John Piccarreto, Thomas Brenner, First Nationle Solution LLC, Percipience Global Corp. and United RL Capital Services.

The defendants are accused of defrauding 637 investors by purchasing the books of retiring investment professionals.

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