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.
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.