tom petters

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 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.

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.

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

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.

A federal appeals court hears oral arguments on whether Minnesota businessman Tom Petters deserves a new trial after being convicted of orchestrating a $3.7 billion Ponzi scheme. Federal prosecutors and lawyers for Petters will go before a three-judge panel of the 8th Circuit Court of Appeals in St. Paul at 9 a.m. Thursday.

ST. PAUL  (AP) -- Dozens of attorneys packed a federal courtroom in St. Paul on behalf of clients who lost money in Tom Petters' $3.7 billion Ponzi scheme.

A federal appeals court has scheduled oral arguments for Feb. 17 in the Tom Petters case. The Wayzata businessman -- and St. Cloud native -- was accused of running a $3.7 billion Ponzi scheme. A jury convicted Petters in 2009 on 20 counts of wire fraud, mail fraud, money laundering and conspiracy. A judge sentenced to him 50 years in prison.