Federal authorities charged Marco Santarelli with orchestrating a $62.5 million Ponzi scheme through Norada Capital Management.
Federal prosecutors charged Paul Regan with selling about 300 “protected” notes through Next Level Holdings, taking in more than $45 million and paying old investors with new investors’ money.
Regan’s second company, Yield Wealth Ltd., sold about 85 “high yield” deposits worth more than $15 million. Across both companies, more than 300 investors put in over $60 million and lost over $50 million.