Home / Derline Cunningham charged in $100M Ponzi scheme in Rochester NY

Derline Cunningham charged in $100M Ponzi scheme in Rochester NY

In January 2015, Derline Cunningham, then a Citizens’ Bank manager, allegedly took a call from another bank asking for information about a supposed Citizens’ Bank account.

Cunningham, a Greece resident, allegedly said there was a balance of more than $950,000 in the account.

However, no such account existed, federal prosecutors allege.

This is just one allegation against Cunningham, 60, who was charged federally this week with bank fraud. She is accused of feeding bad information to other banks about the credit of local men — Perry Santillo and Christopher Parris —  who were allegedly running a massive decade-long Ponzi scheme that bilked investors out of an estimated $100 million.

Santillo has admitted to the Ponzi scheme in a guilty plea and a plea is now being negotiated for Parris. The criminal complaint against Cunningham in fact includes claims from Parris about Cunningham’s role, a clear sign that he has already been…

Read full article at www.democratandchronicle.com