Petters' schemes drew in $36 billion, report says

  • Article by: DAVID PHELPS , Star Tribune
  • Updated: December 18, 2010 - 12:05 AM

A new PricewaterhouseCoopers assessment represents more than two years' worth of forensic accounting into the Ponzi scheme, which stretched over parts of two decades.

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falcon1665Dec. 17, 10 9:22 PM

36 billion? I bet this gets Petters a coveted space on the conservative wall of fame.

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michraba33Dec. 17, 10 9:22 PM

I just wish he would have been busted sooner.

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spidermonkeyDec. 17, 10 9:39 PM

What a shame his partners in crime got off relatively easy compared to him. It is obvious from the complexity that they were all in it up to their elbows.

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tietacDec. 17, 10 9:58 PM

He ruined thousands of lives. No punishment is bad enough

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arronbDec. 17, 1010:06 PM

And people wonder why businesses shouldn't be trusted. The only one's they are looking out for is themselves. From fraudulent housing deals, to this.

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ooohlaDec. 17, 1010:20 PM

it is a sad ,tragic state when this countries worse criminals are usinessmen in suits

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pic6325Dec. 17, 1010:28 PM

Google Miclele Bachmann Tom Petters

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wintexDec. 17, 1010:31 PM

Working as hard as Petters did for this fortune, it is quite clear we should not be "raising taxes" on the rich who create jobs. Mr. Petters would like to thank the Republicans for making sure that "all taxpayers" continue at the Bush rates.

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SeaSharkDec. 18, 10 1:12 AM

TOM PETTERS: separated at birth from John Gotti? Petters and Gotti share an uncanny resemblance: facial characteristics, slick hair, body language, expensive clothes and similar fashion preferences including calf-length overcoats. Saw a split screen video of Petters and Gotti last year comparing the way they walk, dress, interact with people in small groups, etc and the similarities are incredible. Petters deserves every nanosecond of his 50-year prison sentence.

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wwallace67Dec. 18, 10 1:46 AM

Losses slightly more than 10%? And he's doing time? If that were the rule, many CEOs should be in prison.

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