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Stefan Pildes, the founder of SantaCon, pleaded not guilty on Wednesday to charges of wire fraud related to the misuse of funds raised for the event. Pildes, a resident of Hewitt, New Jersey, was arrested at his home in Passaic County. He is accused of diverting more than half of the $2.7 million raised from 2019 to 2024 for personal use, including home renovations, concert tickets, vacations, and fine dining.
SantaCon, an annual event in New York City, involves thousands of participants dressed as Santa Claus engaging in a city-wide pub crawl. The event, marketed as a charitable fundraiser, raised nearly $3 million, but prosecutors allege that Pildes used the funds for personal expenses. According to BBC News, U.S. Attorney Jay Clayton described Pildes' actions as a "con game," exploiting New Yorkers' generosity.
The indictment, unsealed in Manhattan federal court, details how Pildes allegedly used the funds to finance various personal ventures, including $365,000 for renovations to a lakefront property in New Jersey and $124,000 on a luxury Manhattan apartment. ABC News reports that Pildes is facing one count of wire fraud, which carries a maximum sentence of 20 years in prison.
Pildes was released on $300,000 bail and is prohibited from contacting SantaCon organizers. The government is working on a plan to notify victims of the alleged fraud. The event has faced criticism in the past for disturbances caused by intoxicated participants, as noted by 6abc.
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