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CEO Charged in $62.5 Million Investor Fraud Scheme

9/14/2025

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Summary

Story summary

Marco Giovanni Santarelli, CEO of Norada Capital Management, faces wire fraud charges for defrauding over 500 investors of $62.5 million.
He allegedly promised high monthly interest rates of 12% to 15% through unsecured promissory notes tied to various investments.
From June 2020 to June 2024, he misled investors with inflated balance sheets, concealing over $90 million in debt.
Santarelli reportedly used funds from new investors to pay returns to earlier ones, resembling a Ponzi scheme.
His court appearance is set for October 20 in Santa Ana, California, with a potential 20-year prison sentence if convicted.

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Story summary

Marco Giovanni Santarelli, CEO of Norada Capital Management, faces wire fraud charges for defrauding over 500 investors of $62.5 million.
He allegedly promised high monthly interest rates of 12% to 15% through unsecured promissory notes tied to various investments.
From June 2020 to June 2024, he misled investors with inflated balance sheets, concealing over $90 million in debt.
Santarelli reportedly used funds from new investors to pay returns to earlier ones, resembling a Ponzi scheme.
His court appearance is set for October 20 in Santa Ana, California, with a potential 20-year prison sentence if convicted.