NEW YORK (AP) — A popular SantaCon charity fundraiser that floods New York City with thousands of inebriated young people in red and white Santa costumes every holiday season was true to its name: a con, federal authorities said after they arrested its organizer.

Stefan Pildes, 50, of Hewitt, New Jersey, was arrested on Wednesday. He did not comment after an initial court appearance on a wire fraud charge and was freed on $300,000 bail.

The Associated Press