SantaCon founder charged with fraud

Stefan Pildes, the president of the raucous holiday event, is facing wire fraud charges after an FBI investigation revealed he siphoned off nearly half of all donations.

While SantaCon was promoted as a charitable fundraiser, authorities say only a small fraction of the $2.7 million raised since 2019 actually reached non-profit organizations.

Pildes allegedly spent the stolen money on luxury vacations, concert tickets, and a lakefront property in New Jersey.

The case has shocked many who participated in the annual event believing their money was supporting good causes.