A SantaCon charity fundraiser that floods New York City with inebriated young people in red and white Santa costumes every holiday season was true to its name: a con, federal authorities said as they arrested its organizer.
Stefan Pildes, 50, of Hewitt, New Jersey, was arrested on Wednesday and awaited an appearance in Manhattan federal court, where an indictment charging him with wire fraud was unsealed.
Federal authorities said he donated to charity only a small fraction of the $2.7 million he raised through SantaCon events from 2019 to 2024.
A message seeking comment was sent to an attorney for Pildes. The defendant was to make an initial appearance before a magistrate judge Wednesday.
Authorities said he siphoned more than half of the proceeds raised each year to an entity he controlled so that he could finance personal needs, including renovations to a lakefront property in New Jersey, concert tickets, luxury vacations, extravagant meals and a luxury vehicle.
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