Another $22 Million Distributed To Victims Of Tom Petters Ponzi SchemeThe 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.
Wisconsin Man Gets 7 Years Over Ponzi SchemeSixty-eight-year-old James Nickels earlier pleaded guilty to wire fraud. Prosecutors say Nickels convinced family, friend and neighbors to invest in his sham business.
Victims In Petters Ponzi Scheme Getting (Some) Money BackAbout $16.4 million stolen by Tom Petters has now been returned to 364 investors.
Mound Man Accused In $1 Million Ponzi Scheme Pleads GuiltyFederal authorities say a Minnesota man accused of bilking investors of more than $1 million has pleaded guilty.
Chiropractor Going Back To Prison For New Ponzi SchemeA Twin Cities chiropractor who has already spent time in prison for a Ponzi scheme is going back for the same crime.
Man Accused Of Stealing $350K From Brewery, $330K In Ponzi SchemeA St. Paul man is charged with stealing more than $350,000 from a Minnesota brewery, and stealing almost as much from others in an alleged Ponzi scheme.
Stillwater Man Pleads Guilty To Using Tricking InvestorsA 40-year-old man pleaded guilty Tuesday to stealing from investors in his wealth management company and using the money to buy a luxury SUV and run a Ponzi-style scheme.
Trial Begins For Former Viking Accused In Ponzi SchemeJury selection begins Monday for the trial of former Minnesota Vikings Stu Voigt. Voigt and his business partner Jeffrey Gardner head to federal court this week for allegedly bilking investors out of millions of dollars. The two face several criminal charges in connection to a real estate scheme between 2005 and 2007.
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.
Voigt Pleads Not Guilty In Alleged Ponzi SchemeFormer Minnesota Vikings tight end Stu Voigt has pleaded not guilty in an alleged Ponzi scheme. Voigt entered his plea Thursday after being indicted earlier in April on charges of conspiracy and fraud.
Fmr. Viking Accused Of Multi-Million Dollar Ponzi SchemeTwo Minnesota men, including a former Minnesota Vikings tight end, are charged with running a Ponzi scheme that defrauded investors out of millions of dollars. The U.S. Attorney's office says 66-year-old Stu Voigt and 61-year-old Jeffery Gardner face several criminal charges in connection to a real estate scheme between 2005 and 2007.
Man Pleads Guilty To Stealing At Least $10M From Fmr. ClientsA Eden Prairie man plead guilty Wednesday to using his financial planning firm to operate a Ponzi scheme to fraudulently obtain millions of dollars from former clients, according to U.S. Attorney Andrew Luger. Sean Meadows, 41, plead guilty to three counts of mail fraud, seven counts of wire fraud and money laundering offenses.
St. Anthony Man Pleads Guilty In $19M Fraud SchemeFederal prosecutors say a Minnesota man has pleaded guilty to defrauding investors of more than $19 million. Fifty-five-year-old Tyrone Herman of St. Anthony entered his plea Friday in U.S. District Court. According to court documents, Herman claimed he could purchase small appliances from manufacturers and wholesalers at below-retail market rates.
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.
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.