SEC Bars 2 Imprisoned Brokers Tied To Sweeping $115M Ponzi Fraud

The SEC said Christopher Parris and John Piccarreto, two former Rochester, New York, brokers, agreed to be barred from the securities industry after a decade-long Ponzi scheme that took in more than $115 million. Prosecutors said the group persuaded investors to move savings into entities they controlled with false claims about businesses in financial services, insurance, real estate development and medical laboratories. Both men had pleaded guilty in 2021.