Judge: Home Of Petters’ Former Assoc. To Be Seized

August 9, 2012 4:17 PM

Filed Under: Deanna Coleman, Home, Minnetrista, Seized, Tom Petters

Here is the mug shot for Tom Petters, founder of Petters Group Worldwide, who was charged with fraud in an alleged multimillion-dollar investment scheme that prosecutors said spanned 14 years.

(credit: Sherburne County Jail)

MINNEAPOLIS (WCCO) — A judge decided the U.S. Attorney’s office can seize a house purchased with money from the Tom Petters Ponzi scheme.

Petters is serving 50 years in prison for running the $3.5 billion fraud. The Minnetrista home that the federal government is seizing used to be owned by Petters’ former associate, Deanna Coleman.

She was the key witness in the Petters’ trial.

Her ex-husband kept the house after their divorce. He died in June.

The house has an estimated value of $580,000.

Comments