SEC v. Marco G. Santarelli, No. LR-26420, Central District of California (Nov. 19, 2025) — Press Release
raw: Marco G. Santarelli
Marco G. Santarelli, No. 8:25-cv-02375 (Nov. 19, 2025)
Marco G. Santarelli orchestrated a multi-million-dollar Ponzi-like scheme through Norada Capital Management, resulting in a permanent injunction and a guilty plea to criminal charges.
Marco G. Santarelli defrauded hundreds of investors of tens of millions of dollars through Norada Capital Management, LLC, between 2020 and 2024. He faced SEC charges for violating antifraud and registration provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. Santarelli consented to a final judgment including a permanent injunction and monetary penalties, while also pleading guilty to parallel criminal charges.
From June 2020 to June 2024, Marco G. Santarelli operated Norada Capital Management, LLC, to raise tens of millions of dollars by selling high-yield promissory notes falsely marketed as having strong capital preservation potential. As the underlying investments were actually volatile and speculative, Santarelli transitioned to a Ponzi-like structure by using new investor funds to pay returns to earlier participants. The scheme began to collapse in August 2023, leading to a suspension of payments in June 2024 and a total cessation of operations by early 2025. To resolve the SEC enforcement action, Santarelli consented to a final judgment that includes a permanent injunction against future securities law violations and requires him to pay disgorgement, interest, and penalties. Additionally, Santarelli pled guilty to parallel criminal charges brought by the U.S. Attorney’s Office for the Central District of California. The SEC investigation was led by Assistant Regional Director Marc J. Blau and trial counsel Kathryn C. Wanner.
Exhibits & Attached Documents (1)
Extracted insights
- agency Securities and Exchange Commission
- court united states district court for the central district of california
- Securities And Exchange Commission Charges California Man in Fraudulent Multi-Million-Dollar Investment Scheme
- Securities And Exchange Commission Filed Complaint United States District Court for the Central District of California
- Santarelli Ran Investment Scheme Multi-Million-Dollar Investment Scheme
- Santarelli Raised Tens Of Millions Of Dollars Through Sale Of Unsecured, High-Yield Promissory Notes
- Santarelli Falsely Described Notes As Having Strong Capital Preservation Potential
- Norada’s Investments Were Volatile And Speculative In Reality
- Santarelli And Norada Began Making Ponzi-Like Payments Using Funds From New Investors
- Santarelli Notified Investors That Norada Was Suspending Distribution Payments
- Santarelli Ceased Operations By Early 2025
- Santarelli Consented To Final Judgment Permanently Enjoining Him From Violating Antifraud Provisions
- Santarelli Pled Guilty To Criminal Charges Brought By United States Attorney’s Office
- Securities And Exchange Commission Supervised Investigation Assistant Regional Director Marc J. Blau
- Assistant Regional Director Marc J. Blau Received Assistance From Trial Counsel Kathryn C. Wanner
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26420 / November 19, 2025 Securities and Exchange Commission v. Marco G. Santarelli, No. 8:25-cv-02375 (C.D. Cal. filed Oct. 20, 2025) SEC Charges California Man in Fraudulent Multi-Million-Dollar Investment Scheme On October 20, 2025, the Securities and Exchange Commission charged Marco G. Santarelli, a resident of Laguna Niguel, California for running a multi-million-dollar investment scheme that defrauded hundreds of investors nationwide. The SEC’s complaint, filed in the United States District Court for the Central District of California, alleges that, from at least June 2020 to June 2024, Santarelli, through his company Norada Capital Management, LLC, raised tens of millions of dollars through the sale of unsecured, high-yield promissory notes that Santarelli falsely described as having “strong capital preservation potential.” In reality, Norada’s investments were volatile and speculative, and by August 2023, the SEC alleges that Santarelli and Norada could no longer satisfy the returns they had promised to investors, and began making Ponzi-like payments in which investor returns were paid using funds obtained from new investors. The SEC alleges that in June 2024, Santarelli notified investors that Norada was suspending distribution payments to investors, and ceased operations by early 2025. Santarelli, without denying the allegations contained in the SEC’s complaint, consented to the entry of a final judgment permanently enjoining him from violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the antifraud and registration provisions of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, imposing a conduct-based injunction, and ordering him to pay a penalty, disgorgement and prejudgment interest with amounts to be determined upon motion of the SEC. In a parallel action, Santarelli pled guilty to criminal charges brought by the United States Attorney’s Office for the Central District of California. The SEC’s investigation was supervised by Assistant Regional Director Marc J. Blau with assistance from trial counsel Kathryn C. Wanner, both of the Los Angeles Regional Office.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26420 / November 19, 2025 Securities and Exchange Commission v. Marco G. Santarelli, No. 8:25-cv-02375 (C.D. Cal. filed Oct. 20, 2025) SEC Charges California Man in Fraudulent Multi-Million-Dollar Investment Scheme On October 20, 2025, the Securities and Exchange Commission charged Marco G. Santarelli, a resident of Laguna Niguel, California for running a multi-million-dollar investment scheme that defrauded hundreds of investors nationwide. The SEC’s complaint, filed in the United States District Court for the Central District of California, alleges that, from at least June 2020 to June 2024, Santarelli, through his company Norada Capital Management, LLC, raised tens of millions of dollars through the sale of unsecured, high-yield promissory notes that Santarelli falsely described as having “strong capital preservation potential.” In reality, Norada’s investments were volatile and speculative, and by August 2023, the SEC alleges that Santarelli and Norada could no longer satisfy the returns they had promised to investors, and began making Ponzi-like payments in which investor returns were paid using funds obtained from new investors. The SEC alleges that in June 2024, Santarelli notified investors that Norada was suspending distribution payments to investors, and ceased operations by early 2025. Santarelli, without denying the allegations contained in the SEC’s complaint, consented to the entry of a final judgment permanently enjoining him from violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the antifraud and registration provisions of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, imposing a conduct-based injunction, and ordering him to pay a penalty, disgorgement and prejudgment interest with amounts to be determined upon motion of the SEC. In a parallel action, Santarelli pled guilty to criminal charges brought by the United States Attorney’s Office for the Central District of California. The SEC’s investigation was supervised by Assistant Regional Director Marc J. Blau with assistance from trial counsel Kathryn C. Wanner, both of the Los Angeles Regional Office.