Ponzi schemer gets over 17 years, ordered to repay $103M

ROCHESTER, N.Y. (AP) — A  man once dubbed “King Perry” will spend more than 17 years in prison for his role in masterminding a long-running Ponzi scheme that collected more than $115 million from 1,000 investors nationwide. Perry Santillo appeared Thursday in federal court in Rochester, New York. A judge ordered him to pay $103 million in restitution. Some of Santillo’s victims lost hundreds of thousands of dollars in retirement savings. Santillo says he is “truly ashamed of my choices.” He pleaded guilty more than two years ago to mail fraud and conspiracy.