Petters Ponzi Scheme Victims To Receive $172M Under New PlanFormer Federal Prosecutor Doug Kelley says coming up with the plan took years because Petters was involved in more than 100 companies.
Hundreds Of Petters Victims Still Waiting On Bankruptcy ClaimsMore than seven years after the financial collapse of one Minnesota's most powerful businessmen, victims are still waiting for money.
Defenders Of Minn. Men Accused Of Trying To Join ISIS Claim EntrapmentDefenders of some Minnesota men accused of trying to join ISIS say the FBI entrapped them. The government charged four men and two of their friends with trying to go overseas: Mohamed Abdihamid Farah, 21; Adnan Abdihamid Farah, 19; Abdurahman Yasin Daud, 21; Zacharia Yusuf Abdurahman, 19; Hanad Mustafe Musse, 19; and Guled Ali Omar, 20.
Sun Country Pilots Hold 'Informational' PicketPilots from other major airlines showed their support as pilots from Sun Country held informational picketing at Terminal 2 of Minneapolis-St. Paul International Airport.
Judge Denies Minn. Businessman Petters' Appeal A federal judge has denied convicted Minnesota businessman Tom Petters' appeal for a shorter sentence. In a ruling issued Thursday, U.S. District Judge Richard Kyle said Petters "has tried to pull off one final con" by seeking a shorter sentence.
Final 3 Defendants Sentenced In Petters SchemeThe final three defendants have been sentenced in the $3.65 billion Ponzi scheme led by Minnesota businessman Tom Petters. U.S. District Judge Richard Kyle handed down a 7 ½-year sentence Friday to hedge fund manager Bruce Prevost for his role in misleading investors in Palm Beach Capital Management, a Florida hedge fund that put money into Petters' scheme before it collapsed in 2008.
Esme's Blog: The Final Humiliation Of Tom PettersIf there were ever a Minnesota case where cameras in the courtroom would have been a benefit to the public, it is the Tom Petters case, in my opinion. For four remarkable days in the winter of 2009, Petters testified, maintaining with a cocky flair, that he was an unwitting pawn in a $3.6 billion Ponzi scheme. It was all the work of his underlings he said, and that he had no idea what was going on.
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Petters Now Admitting Guilt, Begging For A Lesser SentenceThe man found guilty of orchestrating Minnesota's largest Ponzi scheme finally admitted on Wednesday that he did it. Tom Petters was in U.S. District Court in St. Paul on Wednesday trying to get 20 years shaved off his prison sentence.
10-23-13 Tom Petters Hearing On The Morning News With Dave LeeCan he get his 50 year sentences reduced? Dave finds out.
Petters Goes Back To Court To Seek Less Prison TimeConvicted Minnesota businessman Tom Petters returns to federal court this week to try to shorten his 50-year prison term. The attempt to get 20 years removed might be Petters' last chance to go after a lighter sentence.
Former Christian Radio Host Sentenced For $194 Million Ponzi SchemeThe fourth man convicted in a $194 million Ponzi scheme - the second largest in Minnesota history - was sentenced Monday to 240 months in federal prison. According to the U.S. Attorney General’s office, 75-year-old Patrick Kiley of Burnsville was convicted last June of 12 counts of wire and mail fraud, one count of conspiracy to commit mail and wire fraud and two counts of money laundering. Kiley - along with ring leader Trevor Cook, Jason Bo-Alan Beckman, Gerald Joseph Durand and Christopher Pettengill – were all solely and jointly ordered to pay $155,359,411 in restitution to their victims.