Webster Groves Priest Gets 40 Years In Prison For Ponzi Scheme
KANSAS CITY, MO (KTVI) – A Webster Groves priest and attorney has been sentenced to 40 years in prison for his part in a 10-year Ponzi scheme. The U.S. Attorney says Martin T. Sigillito, 63, scammed more than 140 investors out of over $50 million.
The Ponzi scheme was known as the British Lending Program (BLP) and victims thought they were loaning money for legitimate real estate development projects in England but authorities say Sigillito and his partner, James Scott Brown, kept their money. The scam ran between 2000 and 2010.
Sigillito was an ordained priest and bishop in the church of the American Angelican Convocation and maintained an office in Clayton, Missouri for his business, Martin T. Sigillito and Associates, Ltd. but he didn’t have any staff working for him and did not have very many, if any, causes.