To the victims/investors of Carmen J. Palmieri,

Many of you have received a letter from Mr. Palmieri requesting you contact the courts and the Office of the District Attorney with an appeal that Mr. Palmieri be allowed to set up a “restitution program”.  Mr. Palmieri’s letter is apparently creating some confusion among the investors as to the role of the different agencies involved in the lawsuits against Mr. Palmieri and the power of Mr. Palmieri to set up a “restitution program”. 

The lawsuit filed by the Department of Corporations, The People of the State of California, by and through the Commissioner of Corporations, vs. C. Palmieri Enterprises, Inc., etc.GIC785226, is directed toward protecting the investing public from future securities violations and obtaining restitution for investors by appointing a receiver to marshal and distribute existing funds.  The lawsuit was filed by the Department of Corporations in March, 2002.  Mr. Palmieri has had the opportunity to create a “restitution program” through the Department of Corporations since the suit was filed.

The criminal case is being investigated by the Department of Insurance.  The resulting case filed by the San Diego County District Attorneys Office, The People of the State of California v. Carmen John Palmieri, SCD170477, is directed toward the protection of the public from Mr. Palmieri.  Mr. Palmieri was arrested in October, 2002, and remains in jail.  The case is set for jury trial on September 29, 2003.

Lisa E. Crawford

Deputy District Attorney

Economic Crimes Division