MINNEAPOLIS (AP) - A former associate of fallen Minnesota businessman Tom Petters and two hedge fund managers have been indicted on fraud charges.

Fifty-three-year-old Frank Vennes, 51-year-old David Harrold and 51-year-old Bruce Prevost were each charged Wednesday with four counts of securities fraud for allegedly giving false information about Petters Co. Inc. to investors.

Vennes is a former Petters associate. He's also charged with money laundering. All three men live in Florida.

Petters is serving a 50-year sentence for allegedly operating a $3.7 billion Ponzi scheme through PCI. He is appealing.

Prosecutors say Harrold and Prevost falsely told investors PCI was generating profits. Vennes allegedly told Harrold and Prevost to communicate only with him when dealing with PCI, receiving over $60 million in commissions.

Messages left with the men were not immediately returned.

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