Tom Petters breaks silence in exclusive interview from prison

Twin Cities Business sat down with the former Wayzata businessman in Leavenworth Penitentiary, where he's serving a 50-year sentence for his role in a billion-dollar Ponzi scheme. But he sticks with the same story he told a courtroom in 2009: He wasn't involved. He says his associates ran the fraud while he was deeply focused on Sun Country Airlines and Polaroid.
Author:
Updated:
Original:

Twin Cities Business sat down with the former Wayzata businessman in Leavenworth Penitentiary, where he's serving a 50-year sentence for his role in a billion-dollar Ponzi scheme. But he sticks with the same story he told a courtroom in 2009: He wasn't involved. He says his associates ran the fraud while he was deeply focused on Sun Country Airlines and Polaroid.

Next Up

Surly Brewing

Facing aluminum can shortage, Surly unveils solution: 'Cantyhose'

The brewery came up with a creative way to repurpose unused cans.

Liam Robbins

Gophers stay perfect at home by crushing 7th-ranked Michigan

Liam Robbins and Marcus Carr were too much for the previously undefeated Wolverines.

police lights

Four teens arrested over robberies in Minneapolis

They teens were found in a vehicle that was taken during an earlier carjacking.

Boundary Waters/BWCA

All BWCA visitors will now have to watch three 'Leave No Trace' videos

Visitors left an "unacceptably high amount" of damage last year.

ambulance

Ten fatal overdoses in past 6 weeks reported in region of northern MN

Law enforcement agencies have issued a plea to the general public.

u.s. district court minnesota - federal court minneapolis

Bracing for security threats, federal courthouses closing in Minnesota

Security is also being ramped up at the state capitol.

N95 mask

3M sues Florida company that sold 10K counterfeit N95 masks to HCMC

The Maplewood company has obtained a temporary injunction against the firm.

vaccine, covid

Walz, Whitmer, and Evers call on Trump Admin. to buy more vaccines

It comes after The Washington Post reported that the country's COVID vaccine reserves have been exhausted.

Karl-Anthony Towns

Wolves-Grizzlies game off, KAT tests postive for COVID

The Timberwolves star was among several players that are dealing with COVID-related issues.

Related

Tom Petters breaks his silence during exclusive interview

The convicted Minnesota businessman recently sat down with Twin Cities Business magazine Editor in Chief Dale Kurschner at a federal penitentiary in Kansas. It's the first time Petters agreed to an interview since being sentenced to 50 years in prison for orchestrating a multibillion-dollar Ponzi scheme. The 14-page feature will be in the May issue of Twin Cities Business that comes out April 18.

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.

U.S. Supreme Court won't review Tom Petters' fraud conviction

The Minnesota businessman had asked the nation's highest court to review his case. Petters was convicted on charges of orchestrating a $3.65 billion Ponzi scheme and is serving a 50-year prison sentence. His attorneys argued that the trial judge barred them from presenting evidence.

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.

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.

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.

Petters trying to convince U.S. Supreme Court to review his fraud conviction

Petters continues to argue his Sixth Amendment rights were violated because he wasn't allowed to fully question certain witnesses. The full 8th Circuit Court of Appeals denied the former Minnesota businessman's request last year. Petters is serving a 50 year sentence for orchestrating a $3.65 billion Ponzi scheme. He was convicted in 2009.