Trigon Founder Cops Plea Deal In $76M Ponzi Case

Law360, New York (May 25, 2011, 10:06 PM EDT) -- Federal prosecutors in Idaho reached a plea agreement Wednesday with the founder of a commodity investment pool called Trigon Group Inc., which regulators allege is actually a $76 million Ponzi scheme.

Daren Palmer will plead guilty to a count each of wire fraud and money laundering relating to a scheme to bilk investors with promises of favorable return rates and assured safety, according to prosecutors. The fraud allegedly lasted from 2002 to 2008, netting about 68 investors and burning them for more than $20 million....
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