Petters jailed; court papers say he planned to flee the country

  • Article by: JAMES WALSH and LIZ FEDOR , Star Tribune staff writers
  • Updated: October 4, 2008 - 4:01 PM

Agents arrested him Friday, partly in response to taped conversations showing he had plans to leave the country, documents say. He is held without bail on fraud charges.

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guffmanOct. 3, 0811:38 AM

"Petters and his group raised funds from investors for the purchase and resale of electronic goods that actually didn't exist, then used the money for other purposes." Patterns seem to repeat themselves...

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nickelbOct. 3, 0811:44 AM

Police arrested Petters, founder of Minnetonka-based Petters Group Worldwide, was arrested at his Wayzata home and is scheduled to appear before a federal judge at 3 p.m.

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btaleenOct. 3, 0811:46 AM

When you have 10 million you want 15 million, when you have 15 million you want 20 million. Hope Tom doesn't have any kids, cause he'll be gone for a long time if convicted.

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bluebird74Oct. 3, 0811:47 AM

I say take part of his empire and give it to the employees at Sun Country who are clearly suffering. Not fair, welcome to capitalism.

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happyjessOct. 3, 0811:48 AM

Didn't they just announce possible job cuts at Sun Country yesterday? I'm sure those employees or former employees are glad he got arrested. The St. Cloud Fingerhut former employees too.

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tom4sixOct. 3, 0811:49 AM

Must have been getting ready to do an OJ

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Target1Oct. 3, 0811:49 AM

:)

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glenbcOct. 3, 0811:51 AM

he probably didn't really do anything wrong.

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spleenmanOct. 3, 0811:51 AM

then he wouldnt have to succumb to illegal activities to make money. [/sarcasm for the wingnuts]

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pzennerOct. 3, 0811:52 AM

When that return on investment is too good to be true, and you know a guy who knows a guy that can get you in, think 'Petters, Petters, Petters'. Good bye Mr. Petters. We did not know you well enough, and now we will know you too well.

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