GRAND RAPIDS, Mich. — A Holland attorney is facing charges for embezzling over $300,000 from clients and making a false statement on his federal income tax.
Jeffrey Palmer pleaded guilty to charges of making a false statement on a federal income tax return and wire fraud.
Investigators say he admitted to embezzling approximately $339,520 of his clients’ trust funds between 2012 and 2016. Palmer withdrew over $274,000 from one client’s account and over $64,000 from a second account, and didn’t disclose he was doing so.
In addition to defrauding his clients, he admitted to not claiming the embezzled money as income to the IRS.
He faces a maximum of 20 years in prison for embezzlement and three years for the federal tax violation.