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Minn. Man Charged In Trevor Cook Ponzi Scheme

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MINNEAPOLIS (AP) – A Plymouth man is charged with persuading others to invest in a multi-million-dollar Ponzi scheme orchestrated by Trevor Cook.

 

The U.S. Attorney’s office says 54-year-old Christopher Pettengill was charged Monday with one count of securities fraud, one count of conspiracy to commit wire fraud, and one count of money laundering.

 

Prosecutors say from February through September 2008, Pettengill concealed information from investors about a foreign currency program sold by Pettengill, Cook and others. While concealing that information, Pettengill allegedly continued to secure millions of dollars in investment assets from investors while assuring them the investments involved little or no risk.

 

Cook was sentenced last year to 25 years in federal prison after pleading guilty to orchestrating the scheme.

 

A message left Monday evening for Pettengill’s attorney was not immediately returned.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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