Skip to main content
Updated:
Original:

Petters partner recounts 14 years of fake business deals

Deanna Coleman provided more details about Tom Petters' $3.5 billion Ponzi scheme during her testimony in a bankruptcy court hearing. Coleman took part in the fraud before eventually reporting it to authorities.
Author:

Deanna Coleman provided more details about Tom Petters' $3.5 billion Ponzi scheme during her testimony in a bankruptcy court hearing. Coleman took part in the fraud before eventually reporting it to authorities.

Next Up

polaris Ranger XP Kinetic

Here is Polaris' new electric Ranger off-road vehicle

The Minnesota-based company unveiled the electric UTV on Wednesday.

MNWOSO_Aurora

MN women's soccer team narrows name, logo options to final 3

The winning nickname and logo will be announced in January.

Kirill Kaprizov

2nd period surge leads Wild to fourth straight win

With three goals in the second, the Wild blasted the last-place Coyotes.

Gopher Basketball / R.J. Stephens

Late-tip in helps Gophers pass first big test, improve to 6-0

Luke Loewe's bucket with 2.4 seconds remaining helped the Gophers stay undefeated.

ambulance

Man, 40, found dead stuck in air duct at his Otter Tail Co. home

The discovery was made by family members Monday morning.

Biden Minnesota visit stream screengrab - 11.30.31

What Biden said during his visit to Minnesota Tuesday

The president spoke at Dakota County Technical College.

Grand Marais

Cook County registers its first COVID-19 death of the pandemic

The sparsely populated, highly-vaccinated county has continuously had one of the lowest rates of COVID in the state.

Waits family screengrab CNN

Support for MN family after anti-maskers target child of school board chair

An online group opposing Kelsey Waits outed the child as transgender.

Pixabay - school - classroom

St. Paul schools add 2 days to winter break due to pandemic stress

The added days off are meant to acknowledge the stress the pandemic has caused.

Fardoussa Abdillahi

Charges: St. Cloud mother killed baby, placed him in dumpster

The 4-month-old baby was found by officers on Sunday morning.

Related

Trustee to recover $8.4 million from Tom Petters' former employees

The bankruptcy trustee in the case has struck deals with 30 of the fraudster's former employees. The deals include some sizable settlements with former executives. The money will eventually be redistributed to victims of the multi-billion-dollar Ponzi scheme. Tom Petters is serving a 50-year sentence.

Appeals court upholds Petters' 50-year sentence

A federal appeals court has ruled that Minnesota businessman Tom Petters received a fair trial. He was convicted and sentenced to 50 years in prison for orchestrating a multi-billion-dollar Ponzi scheme.

Petters to request U.S. Supreme Court to review his case

The full Eighth Circuit Court of Appeals is denying convicted Minnesota businessman Tom Petters' request to re-hear his appeal. The Pioneer Press reports Petters will now ask the U.S. Supreme Court to review his case. He was found guilty in 2009 for orchestrating a $3.5 billion Ponzi scheme. The 54-year-old is currently serving a 50-year sentence at a federal penitentiary in Kansas.

Petters aides enter not guilty pleas on new federal charges

Frank Vennes and James Fry will go to trial in February after pleading not guilty to a total of 31 criminal counts, the Pioneer Press reports. The charges include wire fraud, money laundering and making false statements. Both men are accused of helping convicted Twin Cities businessman Tom Petters carry out his $3.5 billion Ponzi scheme.

Feds to seize Twin Cities home tied to Petters' Ponzi scheme

The U.S. Attorney's Office was given the go-ahead Wednesday by a federal judge to seize a Minnetrista home that was purchased with proceeds from the Tom Petters' Ponzi scheme. The house until recently was occupied by Allen Munson, the ex-husband of former Petters' associate, Deanna Coleman.

Judge OKs three clawback settlements in Petters case

The bankruptcy estate of former Minnesota businessman Tom Petters will receive nearly $34 million. A U.S. District Judge approved three “clawback” settlements with GE Capital, Fredrikson & Byron, and the John T. Petters Foundation. Petters is currently serving a 50-year prison sentence for his fraud conviction.

Petters receiver goes after $2 million donation to St. Benedict

The receiver in the Tom Petters 'clawback' effort filed a lawsuit to recover a $2 million donation to the College of St. Benedict. The imprisoned businessman donated to the school starting in 2003. A court convicted Petters in 2009 of running a multi-billion dollar Ponzi scheme. College officials say the money was already spent on renovation and construction projects.

Bills' first TV ad hits Klobuchar over Petters

Republican U.S. Senate candidate Kurt Bills hit the television airwaves with an ad criticizing incumbent Democrat Amy Klobuchar for failing to prosecute a fraud case against businessman Tom Petters while she was Hennepin County Attorney. Klobuchar and county officials have said they lacked the evidence to prosecute him in the 1990's. Petters was eventually convicted of running a $3.5 billion Ponzi scheme.