Accountant charged in Tom Petters case

  • Article by: DAVID PHELPS and JENNIFER BJORHUS , Star Tribune staff writers
  • Updated: December 15, 2008 - 10:20 PM

James Wehmhoff of Plymouth is accused of conspiracy to defraud and assisting in filing of false tax returns in Tom Petters' alleged Ponzi scheme.

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howdoodieDec. 15, 08 9:41 PM

What a way to end a career. You make a bundle of money breaking the law and stealing other people's money, you retire to live the good life.....all the while fearing that the bottom will drop out of paradise. One day you wake up and hear that the crook you collaborated with is in jail. Like that obnoxious song of a few years ago: "We're goin' down, down, down, down." I'd rather live on Social Security and sleep at night.

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orr333Dec. 15, 08 9:56 PM

How is it that 5 senior associates have all pled guilty (assuming this guy does) yet Tom continues to proclaim his innocence while sitting in jail? I say for every day he waits to admit guilt, they add on a month of jail time. It is the ultimate arrogance.

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nappyeyeDec. 15, 0810:18 PM

I'm not sure if facing life in prison whether pleading guilty or fighting in court and losing would be any kind of choice but given what's in front of you Mr. Petters, maybe laying everything out may save someone; your family, another family you don't even know that lost everything they've worked for, their dreams lost, a grand parent that dreamed of their grandchild being the first in the family to go to college, a kid in one of the many charaties you sponsored given hope instead of tough luck. It will be ok Mr. Petters if you let go and try for your own self and for others to start somewhere, even if crushing, moving forward again and living some kind of life, even if you have to spend time in jail. You can do it, you'd be surprised the compassion you would find even in those you've hurt if you try.

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puckplace34Dec. 16, 08 9:00 AM

What goes around comes around. Also HOWDOODIE the songs Im going down by Springsteen 1984 Born in the U.S.A album. 20 plus years ago

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notalltruthDec. 16, 08 9:03 AM

By the looks of this filing of the charges against this Wemhhof guy, the actual charges and claims seem to indicate that he was simply working for the wrong company to try and get "creative" with the tax basis for some of these transactions. Compared to the charges against the original conspirators, it doesn't appear as though this tax guy was involved in the actual fraud but rather they're nailing him for the tax work he did that dealt with some of these companies or people. I wonder when the trickle down to other employees will end?

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alanpDec. 16, 08 9:15 AM

I was wondering if Petters Company top finance person was dumb or in cahoots with Tom Petters to not know what was going on if you're in charge of the books. This answers my question. Another crook goes down.

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starsucks99Dec. 16, 08 9:15 AM

It is obvious that Petters did't pull this fraud off without willing, highly paid help. Now they want to cop a plea to lighten their sentences. I say only if they pay all there ill gotten gains back.

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adamja2Dec. 16, 08 9:20 AM

Who would have compassion for someone that defrauded many people of billions of dollars.

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bv0625Dec. 16, 08 9:47 AM

$142,000 a month for living expenses? That's just great when he refused to give his people making a little over 20% of that a year, a raise or the bonuses they were promised. Rot, Mr. Petters and all your friends, Rot, Rot, Rot.

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gutshotDec. 16, 08 9:56 AM

......do the Feds keep giving sweetheart deals to the accomplices??? They should get fully prosecuted too!!!!!!!

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