A recent Minnesota Supreme Court decision could affect the potential recovery of more than $1 billion from lenders who profited from relationships with convicted Wayzata businessman Tom Petters.
The College of St. Benedict will soon be paying back a $600,000 donation given to them by convicted Ponzi Schemer Tom Petters. Petters agreed to donate about $3-million to the college before he was convicted in 2009 of running a $3.5-billion fraud.
A former associate of convicted Minnesota businessman Tom Petters has been sentenced to 15 years in prison for lying to investors about a $3.65 billion Ponzi scheme.
A Minnesota home purchased with proceeds from a Ponzi scheme will be seized by federal officials. A judge has authorized the U.S. Attorney's Office to seize the home in Minnetrista linked to Tom Petters.
The whistleblower who exposed the $3.7 billion Ponzi scheme of Wayzata businessman Tom Petters has been transferred back to the Benton County Jail ahead of her release from custody next month.