Petters again seeks reduced sentence as his former bank comes under scrutiny

Author:
Updated:
Original:

Attorneys for convicted businessman Tom ­Petters are taking another shot at reducing his 50-year prison sentence.

The Star Tribune reports that attorney Steve Meshbesher said Monday that Petters deserves a hearing because the Wayzata businessman was not told about an offer for a 30-year sentence until after his conviction.

“Defendant Petters affirms that the very first time the 30-year cap was ever raised was during a meeting in the U.S. marshal’s holding cell immediately following his trial and conviction,” Meshbesher wrote in a brief filed with U.S.Distrct Court Judge Richard Kyle.

Prosecutors have argued that Petters was aware of the potential 30-year cap on a prison sentence and rejected it multiple times.

Meanwhile, the Business Journal reports that a new lawsuit seeks to have Edina's Crown Bank turn over $2 million in allegedly fraudulent transfers involving Petters.

In the suit, receiver Doug Kelley said Crown Bank pressured Petters to pledge two properties as collateral for a line of credit the day after a federal raid on his home and business. The deal was illegitimate, Kelley's suit argues, because Crown was aware of the fraud and knew Petters couldn't repay the loan.

Crown CEO Peter Dahl told the Business Journal that the suit is "frivolous." He said a judge already upheld the mortgages.

Earlier this year Judge Kyle denied the U.S. Attorney's bid for control of the properties, saying that Crown Bank was also a victim.

Next Up

State Patrol

State Patrol reports 2 fatal crashes on Friday in Minnesota

The first incident happened in Austin Township, and the second happened in Birch Lake Township.

motorcycle

Deaths on Minnesota roads in 2021 at highest level in more than a decade

There have been a total of eight motorcyclist fatalities on Minnesota roads this year.

Screen Shot 2021-05-08 at 9.15.09 AM

Chinese rocket debris to crash somewhere on Earth this weekend

Minnesota appears to be just outside of it's massive potential crash zone.

Starlink satellites

Strange lights in Minnesota sky Friday night were SpaceX satellites

SpaceX is planning to launch 60 more Starlink satellites on Sunday, May 9.

Jorge Polanco

Shoemaker, Twins lineup rebounds against Tigers

Jorge Polanco homered in a 7-3 victory over Detroit.

Kirill Kaprizov / Minnesota Wild

Watch: Kaprizov's OT winner lifts Wild into 2nd place in West

Kaprizov's goal gave the Wild a 3-2 victory over the Ducks.

Byron Buxton

Buxton placed on IL, Trevor Larnach called up

Buxton could be out "for weeks" with a hip strain.

A bald eagle perched on branches.

USFWS confirms 2 bald eagles were shot dead

The agency is offering a reward for information in the case.

A newborn baby, wrapped in a blanket with its mother.

Most popular baby names includes one not in top 10 for 100 years

But Olivia and Liam once again led the way for girls and boys.

Minnesota Lottery

Names of big Minnesota Lottery winners to be kept private thanks to new law

The Minnesota Legislature passed the bill unanimously and Gov. Tim Walz signed it into law this week.

Related