The man at the helm of New York City’s infamous Christmas-themed bar crawl has landed himself on the naughty list as federal prosecutors allege he pocketed millions of dollars advertised as donations to charity.
Stefan Pildes, a 50-year-old Hewitt, New Jersey resident, was taken into custody in Manhattan and charged with one count of wire fraud stemming from allegations that he stole SantaCon proceeds on Wednesday, according to federal prosecutors.
SantaCon – an annual event in which tens of thousands of intoxicated revelers descend on the Big Apple clad in red hats and white beards – has traditionally been advertised as a ticketed bar crawl in which the proceeds go toward various local charities.
Partnering restaurants and bars also donated 10% to 25% of SantaCon-related sales to the event’s organizers under the guise of the money going to various charities, according to federal authorities.
However, federal authorities allege that from November 2019 to this past April, Pildes was instead lining his own pockets with funds meant for charitable organizations.
Pildes is accused of taking more than half of the $2.7 million raised over nearly seven years for a “slush fund to finance various personal ventures and spent hundreds of thousands of dollars” for “among other things, concert tickets, fine dining, luxury vacations and home renovations,” according to the indictment.
Federal prosecutors allege Pildes siphoned the money into his self-owned entity, Creative Opportunities Group, Inc., while only donating a small portion of the proceeds.
Pildes allegedly used $365,000 of stolen funds “to renovate a lakefront property in New Jersey,” while allotting $124,000 to rent a luxury Manhattan apartment, authorities said.
An attorney assigned to represent Pildes has not yet been identified in court documents.
“He took advantage of New Yorkers’ generous holiday spirit to finance his lifestyle through personal expenses, big and small,” U.S. attorney Jay Clayton said in a statement. “No matter how you dress it up, fraud is fraud. We are committed to protecting New Yorkers from those who exploit their enthusiasm and generosity.”
If convicted, Pildes faces the possibility of up to 20 years in federal prison.
SantaCon did not immediately respond to Fox News Digital’s request for comment.
