Twin Cities restaurateur files Chapter 7 bankruptcy

Champps and Redstone American Grill founder Dean Vlahos told the Star Tribune he lost $26 million as a result of his onetime pal Tom Petters' $3.65 billion Ponzi scheme. He's now looking to escape nearly $12 million in debt.
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Champps and Redstone American Grill founder Dean Vlahos told the Star Tribune he lost $26 million as a result of his onetime pal Tom Petters' $3.65 billion Ponzi scheme. He's now looking to escape nearly $12 million in debt.

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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.

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