WASHINGTON, Oct. 15 -- The U.S. Department of Justice's U.S. Attorney's office for XXXXXX (insert district) issued the following press release:
SANTA ANA, California - An Orange County man who was the founder and CEO of a private equity fund was sentenced today to 33 months in federal prison for defrauding hundreds of investors out of approximately $63 million via a promissory note scam.
Marco Giovanni Santarelli, 57, of Laguna Niguel, was sentenced by United States District Judge Fred W. Slaughter, who also ordered him to pay $63,165,357 in restitution.
Santarelli pleaded guilty in October 2025 to one count of wire fraud.
According to court documents, Santarelli founded and was the CEO of Norada Capital Management (NCM), a Laguna Nigue...