Sun Country Airlines is on the way its fourth-consecutive profitable year. The Star Tribune reports Minnesota's only locally based airline, which was taken over by the owners of Cambria 18 months ago, is about to expand its fleet, its routes and its frequent flyer program.
Pilots with the Mendota Heights-based carrier are upset that they're still working under a contract agreement inked when Sun Country was in bankruptcy. A spokesman for the Air Line Pilots Association tells the Star Tribune pilots for Southwest Airlines are paid nearly twice as much as Sun Country for flying the same aircraft.
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.
Tom Petters' ex-fiancee, Tracy Mixon, is facing the termination of $1,879 in monthly child support and health insurance payments that she's collected for nearly four years from the convicted Minnesota businessman's seized estate. A court appointed receiver said in a U.S. District Court motion Tuesday that Mixon has had enough time to find other means to support herself and the two children she had with Petters.
Attorneys and other professionals sorting through the mess left by the collapse of the largest financial fraud in Minnesota history have collected nearly $70 million for their work, and the tab is still growing, the Star Tribune reported Monday morning.
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.
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.
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.
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.
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.
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.