A federal appeals court has upheld the 2009 conviction and 50-year prison sentence of Tom Petters. The Minnesota businessman and St. Cloud native was found guilty of orchestrating a $3.7 billion Ponzi scheme.
Sun Country Airlines has been sold to the owners of Cambria, the Le Sueur-based maker of quartz countertops Sun County was sold Wednesday to a private company owned by the Davis family of St. Peter, owners of Cambria Holdings LLC.
The Supreme Court has rejected an appeal from investment funds seeking repayment of their losses in a $3.7 billion Ponzi scheme operated by Minnesota businessman -- and St. Cloud native -- Thomas Petters.
Two Florida hedge fund managers have pleaded guilty to lying to investors about investments in convicted Minnesota businessman Tom Petters' former company. David Harrold and Bruce Prevost each pleaded guilty Thursday to four counts of securities fraud.
Federal regulators have won a court order against a hedge fund manager they accuse of funneling hundreds of millions of dollars from investors in his funds to the $3.7 billion Ponzi scheme run by convicted Minnesota businessman and St. Cloud native Tom Petters.
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