Part 4: Petters fraud case shakes his family foundations

  • Article by: JENNIFER BJORHUS , Star Tribune
  • Updated: October 29, 2008 - 5:34 PM

The future of the Thomas J. Petters Family Foundation is in doubt, and another named for his son is bracing for fallout from the investment fraud investigation.

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mbwrfitlOct. 28, 0810:03 PM

the first sentence of the story mentions that Petters "enjoyed making money" - I guess I missed in the first 3 parts where he made any money. Sounds like it was all con job.

mn55066Oct. 28, 0810:07 PM

Any money Petters has left will go to the attorneys who will feed off this case for years. It is the legal profession that enables laws to be made (or not to be made) that make practices such as those propogated by Petters possible. Of course, we all no that any regulation would be anti-America--right, Michelle?

dgallagh7Oct. 28, 0810:08 PM

This is the epidemy of everything wrong with our culture. Hide behind the concept of opportunity and claim righteousness. Why is it that all ethical concerns go out the door when "doing business." Somehow "ethical business" has become an oxymoron because at some point the contest blows through the money threshold and onto who pure numbers. It becomes, who can gain carte blanche because of the levers they pull. I really hate lookin at the smarmy smile. Petters punishment should be about twenty kicks to the groin from the people he ripped off. What would be better than seeing Father Murphy lining up a kick with his pointy black oxfords from JC Penny.

holymooseOct. 28, 0810:16 PM

is obviously narcissistic sociopath.

tawnjaeOct. 28, 0810:19 PM

Steal from the rich and give to the poor? Petters? Bewler? Anyone? Anyone? Wouldn't we all like to think so?

laserhaasOct. 28, 0810:43 PM

Just when you think you heard it all. This numnuts tried to con THE King of Con's He asked to little and will now join Tom

mark28Oct. 28, 0811:06 PM

You gotta wonder how many other companies are doing this scheme, since he seemed to be able to do it with impunity for so long and wouldn't have been caught if it weren't for the lady turning him in.

ExtramanOct. 28, 0811:12 PM

The woman in the picture is his daughter

rjf929Oct. 28, 0811:47 PM

I'm no attorney, but based on everything I've read, including the affidavits, it appears Tom is in trouble. He is likely going to lose his driving priveleges and might even get 12 months in jail. hahahahaha

FirimarOct. 29, 0812:06 AM

"Maybe he is a modern day Peter Pan Steal from the rich and give to the poor? Petters? Bewler? Anyone? Anyone? Wouldn't we all like to think so? posted by tawnjae on Oct. 28, 08 at 10:19 PM" I will be honest and admit that I have not actually Read "Peter Pan" tho, so I could be wrong, but usually Robin Hood is the person mentioned, excluding political commentary, when talking about taking from the rich and giving to the poor.


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