Last week, the SEC prevailed in its first federal court trial of FY 2016. The SEC announced that following a bench trial in SEC v. National Note of Utah and Wayne L. Palmer, U.S. District Court Judge ordered Palmer to pay disgorgement of $1,767,287.10 and for National Note to disgorge $65,188,155.83. The Court also imposed civil penalties of $1,050,000 and $900,000 against Palmer and National Note, respectively. An SEC spokesperson confirmed that the SEC won on all counts.
