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The Wall Street Journal just published the story on their Log blog ( after a month of proding and a silly SunCountry short story) - this is a Big deal and there are a lot of unanswered questions (go here for the Law blog link www.petters-fraud.com ) -- keep up the Good reports ST
Ever hear of due diligence? Petters is a crook, but investors were so enthusiastic about promises of fantastic returns they didn't question Petters methods. Greed is an ugly bedfellow.
They invest $1.5B in one company? Without doing simple checks to verify viability & stability? Something fishy here.
1.5 without touring a warehouse or any other actual verification??
Get an email account or IM and stop using these comments to communicate with your Petters ring, we're tired of you
What hedge fund invests 100% of their assets in any one thing? This fund manager should be sent to North Korea to handle their investments.
They are almost all run by greedy and dishonest finacniers.
"John/Jane Doe 1-10" is simply a way for the Feds to cover anyone that they discover to be involved throughout the course of their investigation. You can speculate as to who you think is involved all day long if you'd like. But to start naming names on a public message board based on a hunch is extremely BS. You're talking about people with family, friends, reputations and careers to worry about. Obviously you have a bone to pick, but try to use some common sense when deciding whether or not to name names of innocent parties that have been caught up in this mess.
I think the investors in Lancelot Investments should be suing Lancelot along with Petters. Whatever happened to the thing called due diligence?
Laser Haas has every right to be here too. Stop the immature slamming. This is huge, and there are a lot of people involved, and we as the public have a right to know. He didn't do this alone, and yet he is being made out to be the only one? How is that fair? Keep this to an informational board. Not nitpicking.
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