Sept. 26: Federal officials: Petters tied to multi-billion dollar fraud scheme

  • Article by: DAVID PHELPS and LIZ FEDOR , Star Tribune staff writers
  • Updated: September 26, 2008 - 11:28 PM

Federal officials, in outlining their case, call Tom Petters the central figure in a suspected scheme that funded his work and lifestyle. Petters maintains he’s innocent, his attorney says.

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dropthepuckSep. 26, 08 5:58 PM

The most popular Petters Product: Pure Grade A Snake Oil

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magicmanrexSep. 26, 08 5:59 PM

......are there honest people in this country anymore????? I'm really, really starting to lose hope and faith...........................

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ReichertSep. 26, 08 6:03 PM

To all the peanut gallery that was commenting yesterday, there it is.

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VunderlutzSep. 26, 08 6:08 PM

Let's see now...showing investors a piece of paper and telling them it's worth something...hmm, I believe I heard of this being done before...

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puertoscottSep. 26, 08 6:24 PM

Isn't this the same guy that revamped fingerhut and just bought a few airplanes from sun country. Whoa it must stink to be him right about now.

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guffmanSep. 26, 08 6:29 PM

During the early 1990s, Damark was involved in something eerily similar. An investigation that ensued after a whistle blower alerted the authorities cost Damark a TON of money and bad press. They WERE doing it as described above and they got caught. Shame on them.

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mncontractorSep. 26, 08 6:32 PM

How much does one person really NEED?

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jasonskogSep. 26, 08 6:34 PM

"Petters Group holds integrity in the highest regard. Trust is at the forefront of this principle and Petters Group works to ensure integrity is an integral part of our business by following through on commitments, seeking and acting truthfully, inviting open and frank dialogue, and confronting any issues directly and with respect." Anybody who has to tell you they have integrity probably doesn't.

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btaleenSep. 26, 08 6:43 PM

Hope the old channel 5 sports guy Joe Schmidt isn't mixed up in this, he left 5 to work for Sun Country. Joe was a good guy.

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beachpartySep. 26, 08 6:48 PM

the state - peewenty finally discovered it today - wall street banks and investment houses- indy mac, freddie mac, fannie m. washington mutual- who is next to fall? how may of these characters will do time?

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