Oct. 1: Petters inquiry reverberates globally

  • Article by: DAVID PHELPS , Star Tribune
  • Updated: October 1, 2008 - 9:20 PM

As investors abroad hear of possible losses, a new lawsuit is filed.

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jen911782Oct. 1, 08 9:18 PM

Spaghettio’s......Did Petters think that he would never get caught? "Imaginary" electronic goods? Did he honestly think that a company that invested millions of dollars in these so called "television’s" wasn't going to try to "check up" on their "investment"? I like how he told Interlachen not to "contact" anyone at the "retailers" that were supposedly "selling" these high end TV's. That sends up lots of red flags.....I wonder if Interlachen ever did try to "contact" the "retailers"....... Petters can try to maintain his innocence all he wants. I guess we can turn this into a life lesson: Never give 60 million dollars to a man selling "imaginary" goods.....

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MarkYountOct. 1, 08 9:29 PM

you can't see them....There, ummmm, let's see, uhhhh....SOLD.......no...wait....there, ummmmm.....DEFECTIVE.....yeah, that's it....they broke a lot.....

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Rochester1Oct. 1, 08 9:38 PM

A company headquartered in the Caymans can only mean they are avoiding U.S./State taxes....watch they'll find a way to claim the losses in the U.S./MN and haven't been claiming the income.

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pwcgoldfishOct. 1, 08 9:40 PM

Good thing for Petter's companies, they will continue to exist as the courts sell them off one by one to obtain as much funds to return funds to the investors

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big12alOct. 1, 08 9:40 PM

do not pass go, do not collect $200 (or $60M)

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myob99Oct. 1, 08 9:42 PM

Petters can get a taste of that 700 billion...why not? Wall Street doesn't seem any more worthy of it than Tom and company.

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rjf929Oct. 1, 0810:03 PM

I have to beleive this will go down as the largest case of corporate fraud ever in MN. It appears that the amount will surpass, by far, the initial $100M estimate. Does anyone have historical recollection? He has outdone even Crazy Eddie's in New York! I hope he held on to at least one plasma TV to be used in his cell. (oops..that's right-innocent until proven guilty). Yeah, right.

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dgmcpOct. 1, 0810:56 PM

What about his party affiliations? Who did he contribute money to? Maybe someone should give the people some of their money back..

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simplyhotOct. 2, 08 3:36 AM

Amazing that I'm reading this while moments before the senate voted on a $700B stealing of our money. I hate to break it to you folks...they're ALL scam artists...your legislators, your mayors, your senators, your president etc. And, if you've got money in a fund run by "shady" characters, you're a scam artist by association!

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haunt2000Oct. 2, 08 6:45 AM

From the first time I say this guy and his warehouse concept - I knew he was a crook based on the sale prices of the juck he sold. All his Pansonic stuff is junk also. He will screw all at Sun also .... He is a crook - punish him ---- Or better yet lets bale him out and comp him a big severance THE AMERICAN WAY --- sorry off to my 8 -5 job

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