March 28, 2024

Stock image | Photo by Svitlana Unuchko/iStock/Getty Images Plus, St. George News

ST. GEORGE — An indictment filed in U.S. District Court in St. George alleges a Sanpete County farm equipment company owner bilked more than 20 individuals out of more than $1.2 million after devising a series of fraudulent schemes that left at least one financial institution over $50,000 poorer.

Stock image of U.S. Attorney’s Office on Main Street in St. George, Utah | St. George News

Ryan Palmer, of Sterling, a town of roughly 320 residents that is located 73 miles south of Provo, has been indicted on three charges, including bank fraud, wire fraud and money laundering, according to the indictment filed by Assistant U.S. Attorney Jay Winward in St. George that was unsealed on Wednesday.

The federal charges were filed following an investigation into the farm equipment company, Palmer Equipment LLC, owned and operated by the defendant.

According to federal prosecutors, the illegal activity reportedly began in 2017, when the defendant began devising schemes to obtain money and property under false pretenses, including one such scheme in which Palmer told several individuals he could sell their equipment on consignment. The defendant also presented himself as a farm equipment…

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