Tom Petters

(credit: Sherburne County Jail)

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.

12/05/2013

(credit: Hennepin County Jail)

Final 3 Defendants Sentenced In Petters Scheme

The 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.

11/09/2013

(credit: Hennepin County Jail)

Esme’s Blog: The Final Humiliation Of Tom Petters

If 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.

10/26/2013

(credit: Hennepin County Jail)

News Click: Petters

10/23/2013

(credit: Hennepin County Jail)

Petters Now Admitting Guilt, Begging For A Lesser Sentence

The 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.

10/23/2013

(credit: Sherburne County Jail)

10-23-13 Tom Petters Hearing On The Morning News With Dave Lee

Can he get his 50 year sentences reduced? Dave finds out.

10/23/2013

(credit: Hennepin County Jail)

Petters Goes Back To Court To Seek Less Prison Time

Convicted 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.

10/21/2013

Prison, Amy Senser

Former Christian Radio Host Sentenced For $194 Million Ponzi Scheme

The 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.

07/15/2013

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Mound Man Found Guilty Of Fraud With Petters Company

A 59-year-old Mound, Minn., man was found guilty by a jury Wednesday in federal court for fraudulently raising money for investment in Petters Company, Inc. James Nathan Fry, a hedge fund manager, was convicted of five counts of securities fraud, four counts of wire fraud, and three counts of making false statements to the U.S. Securities and Exchange Commission.

06/12/2013

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Petters’ Associate Vennes Pleads Guilty

A former associate of convicted Minnesota businessman Tom Petters has pleaded guilty to lying to investors in a $3.65 billion Ponzi scheme.

02/01/2013

(credit: Win McNamee/Getty Images)

Bills’ Ad Accuses Klobuchar Of Shielding Tom Petters

A new television ad from Republican US Sen. candidate Kurt Bills is making waves. It claims incumbent Minnesota Democratic Sen. Amy Klobuchar covered up evidence of massive fraud by convicted swindler Tom Petters.

10/26/2012

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Esme’s Blog: Kurt Bills Ad Slammed

During last night’s Vikings game, Kurt Bills ran an ad claiming Amy Klobuchar covered up for Tom Petters and failed to prosecute him while she was Hennepin County Attorney.

10/26/2012

(credit: Win McNamee/Getty Images)

Bills Questions Klobuchar Handling Of Old Case

Republican Kurt Bills on Monday questioned Democratic U.S. Sen. Amy Klobuchar’s handling of a case during her days as Hennepin County prosecutor.

10/22/2012

(credit: Sherburne County Jail)

Tom Petters’ Personal Collection Up For Auction

Step inside Luther Auctions in North St. Paul and you’ll find yourself in a world of greed and corruption. 86 items which were once the property of Tom Petters are on display.

10/12/2012

(credit: Sherburne County Jail)

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

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

08/09/2012

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4 More Charges For Petters Associate; Total Now 28

The former associate of disgraced Minnesota businessman Tom Petters now faces additional federal charges in connection with Petter’s $3.65 billion Ponzi scheme.

07/12/2012

(credit: Sherburne County Jail)

US Supreme Court Won’t Review Petters’ Conviction

The U.S. Supreme Court says it won’t take up the case of Minnesota businessman Tom Petters. In documents made public Tuesday, the nation’s highest court denied Petters’ request to review his 2009 conviction on charges he orchestrated a $3.65 billion Ponzi scheme.

05/15/2012

(credit: Sherburne County Jail)

Petters Says He’s Innocent In Prison Interview

A Minnesota businessman convicted of engineering a $3.65 billion Ponzi scheme now lives in a two-person prison cell, awakened at 6 a.m. each day by clanging door locks.

04/18/2012

(credit: Hennepin County Jail)

Tom Petters Breaks His Silence

For the first time since he was sentenced to 50 years in prison for orchestrating a multi-billion dollar Ponzi scheme, Tom Petters is breaking his silence.

04/13/2012

(credit: Hennepin County Jail)

Should Charities Have To Return Money Donated By Petters?; Gov. To Decide

It has been more than two years since Tom Petters was found guilty of running a $3.5 billion Ponzi scheme.

04/02/2012

(credit: Sherburne County Jail)

Petters Asks Full 8th Circuit To Rehear Appeal

Attorneys for Minnesota businessman Tom Petters have asked the full Eighth Circuit Court of Appeals to rehear his appeal of his conviction of running a $3.7 billion Ponzi scheme.

12/23/2011

(credit: Sherburne County Jail)

Appeals Court Affirms Petters Conviction, Sentence

A federal appeals court Friday upheld the 2009 conviction and 50-year prison sentence of Minnesota businessman Tom Petters, who was found guilty of orchestrating a $3.7 billion Ponzi scheme.

12/09/2011

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Petters’ Associate Vennes Faces Additional Charges

A former associate of fallen Minnesota businessman Tom Petters faces new allegations of securities fraud, wire fraud and money laundering for his alleged role in a $3.65 billion Ponzi scheme, according to a superseding indictment filed Tuesday.

07/19/2011

(credit: Hennepin County Jail)

Hedge Fund Managers Plead Guilty In Petters’ Case

Two Florida hedge fund managers have pleaded guilty to lying to investors about investments in convicted Minnesota businessman Tom Petters’ former company.

04/21/2011

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3 Men Indicted In Petters’ Fraud Case

Three Florida men were indicted in Minneapolis Federal Court on Wednesday for fraudulently marketing a hedge fund’s investments in Petters Company, Inc.

04/20/2011

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