Part 1: The collapse of the Petters empire

  • Article by: DAVID PHELPS AND JON TEVLIN , Star Tribune staff writers
  • Updated: October 26, 2008 - 10:05 PM

Tom Petters, accused of massive investment fraud, has been a salesman since his youth. "He could talk your wallet right out of your pocket," a former boss says.

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fremantle1Oct. 25, 08 5:19 PM

By the way, Strib, this story continues on for 5 pages. Why are there page breaks online? Why not just let it scroll continuous? This isn't really a page, is it?

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melanie71068Oct. 25, 08 5:49 PM

Why do insist on continuing to block people who post here? Why don't you report on your lack of paying $9 million on a repay? Why is there nothing about your default? Why don't you report accurately and people have a freedom of speech? I like hearing about all the people that are involved, because there are A LOT more. Petters did not do this himself. Deanna didn't go to the FBI either, that is a crock. Report the news correctly and include your breach of contract to the tune of $9 million too, please and thank you. Former mpls star, subscriber!

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alibi123Oct. 25, 08 6:38 PM

Waving Bah - Bye.

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mark28Oct. 25, 08 6:52 PM

excellent article

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ave8o1Oct. 25, 08 7:38 PM

is an old axiom. Petters and his criminal associates prove it correct. You can substitute your own word for "Jerks".

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rrjjssOct. 25, 08 8:11 PM

This guy has been a fraud all of his life...and what is sad, is that real people are suffering because of his actions and he probably doesn't think he has done anything wrong.

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upnorthehOct. 25, 08 9:37 PM

Petters quoted in reference to him skipping school to sell stereos to college kids: "I was having a lot of fun until one day it came to a screeching halt when my report card came home," Petters said. I guess it's true, people never really change.

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rick24rick24Oct. 25, 08 9:54 PM

that enabled you to earn a luxurious lifestyle. Now I realize why I haven't made it there. It isn't hard work, it is the ability to sweet talk, BS, brown nose, and blow smoke up your bosses behind. Well I guess all my hard work won't get me that corner office or company executive perks like ginormous bonuses, company provided Lexuses, all expenses paid trip to a spa resort, or a nice seven figure paycheck.

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mn55066Oct. 25, 0810:17 PM

Unfortunately, too many people are drawn to money rather than character.

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txreaderOct. 25, 0810:50 PM

GREED... Seems someone once said, "I'ts hard to cheat an honest man."

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