MINNEAPOLIS (WCCO) —Another $22 million is being distributed to the victims of Tom Petters’ Ponzi scheme.
The Department of Justice announced Wednesday that the money will be distributed to approximately 364 people worldwide. This money is in addition to the $16 million that was initially distributed to victims.
Petters, of Wayzata, was convicted in 2008 of mail fraud, wire fraud, money laundering and conspiracy for orchestrating a $2.1 billion Ponzi scheme — the largest in Minnesota’s history. He is currently serving a 50-year prison sentence.