A third man has been sentenced to federal prison because of a Ponzi scheme started by a Rochester man.
Federal prosecutors say 60-year-old Paul LaRocco of Ocala, Florida was sentenced to five years in prison after being found guilty of mail fraud in a scheme started by Christopher Parris. LaRocco worked for Parris at a tax and financial consulting firm that encouraged people to invest in medical supply and research companies. LaRocco and Parris instead used the money to finance their own lifestyles.
In addition to prison time, LaRocco was also ordered to pay restitution of about $688,000. A third man, Perry Santillo, was also sentenced to prison for his involvement in the scheme.