Trigon Founder Receives 8 Years For $76M Ponzi Plot

Law360, New York (September 20, 2011, 7:46 PM EDT) -- An Idaho federal judge on Tuesday sentenced the owner of commodity investment pool Trigon Group Inc. to eight years in prison and ordered him to pay $29.8 million in restitution for soliciting $75.8 million in investments for fraudulent hedge fund schemes. 

Daren Palmer pled guilty May 31 to counts of wire fraud and money laundering, admitting he deceived almost 70 investors between 2002 and 2008 by promising them interest rates of up to 25 percent on hedge fund investments he never made. Palmer instead directed the...
To view the full article, register now.