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tom petters

tom petters

Tom Petters
Sherburne County Jail Photo
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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.

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Sherburne County Jail photo
Sherburne County Jail photo
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Tearful Petters Begs Forgiveness, Seeks Lenience

Convicted businessman Tom Petters has asked a judge for forgiveness, offering a tearful apology as he seeks to have 20 years cut off his 50-year prison sentence.

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Tom Petters
Sherburne County Jail Photo
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Petters Returning To Court, Seeks 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.

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Sherburne County Jail photo
Sherburne County Jail photo
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Petters’ Associate Vennes Gets 15 Years in Prison

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.

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Tom Petters
Sherburne County Jail photo
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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. Fifty-five-year-old Frank Vennes Jr. of Stuart, Fla., pleaded guilty in federal court Friday to fraudulently raising money from individuals and through hedge funds for investment in Petters Co. Inc.

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Tom Petters
Sherburne County Jail photo
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Petters Bankruptcy Case Trustee Sues BMO Harris Bank

The bankruptcy trustee recovering money for victims of the Ponzi scheme operated by imprisoned businessman and St. Cloud native Tom Petters is suing BMO Harris Bank, accusing it as the owner of M&I Bank of aiding and abetting the fraud.

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Tom Petters
Sherburne County Jail Photo
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Judge Dismisses Lawsuit Over St. Ben’s Donation

A federal judge has dismissed a lawsuit that attempted to recoup a $2 million donation to the College of St. Benedict made by a businessman convicted of fraud. Tom Petters gave the money to the college in St. Joseph so it would name its auditorium after his parents.

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Tom Petters
Sherburne County Jail Photo
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Home Connected to Petters Ponzi Scheme Seized

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.

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Tom Petters
Sherburne County Jail Photo
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GE Capital to Repay $19 Million in Petters Settlement

General Electric Capital Corp. has agreed to repay $19 million in interest and principal it received from the $3.65 billion Ponzi scheme Minnesota businessman Tom Petters was convicted of orchestrating.

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Tom Petters
Sherburne County Jail photo
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U.S. Supreme Court Won’t Review Petters’ Conviction

The U.S. Supreme Court says it won't take up the case of Minnesota businessman -- and St. Cloud native -- 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.

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