December 04, 2015
National Note of Utah, Wayne L Palmer
SANCTION AMOUNT: $68,905,443
Defendants: National Note of Utah
Wayne L Palmer
Ponzi scheme in which more than 600 investors were guaranteed a 12% annual return from investments that were to be completely secured and used to make hard money loans, purchase notes, and invest in real estate. Instead, invested money was simply deposted in and transferred between bank accounts, and used for Ponzi payments.
- Key Docs
- Official SEC press release