A 'conversation' with Tom Petters

  • Article by: HENRY (HANK) J. SHEA , Special to Star Tribune
  • Updated: January 3, 2010 - 10:48 PM

A veteran prosecutor explains the sentencing facts of life to a convicted con man.

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verdepatoJan. 3, 10 5:19 PM

QUOTE Our society's obsession with wealth, instant gratification and judging others by how much money they have, created the Madoffs -- and, yes, the Petterses -- of the world. No people with no morals create this for themselves And they deserve more then a life sentence

bumswrapJan. 3, 10 7:51 PM

and it is right on the mark. Life is short and those who spend the lion's share of it chasing money and stuff, out of some ill-conceived ideal that such things or the notoriety they may bring will result in happiness, are doomed to become what George Bailey referred to in 'Its a Wonderful Life' as a "warped, frustrated, old man (or woman)." Happiness does not come from without. Most know this, but it is still difficult sometimes, or most times, to truly live it without backsliding.

jawski79Jan. 3, 10 9:06 PM

Why is there a picture of Marshall Tanick by this article? Did he contribute? If so, he should be credited, on this sad, but very accurate commentary, and reality of the consequences that await the "fat cats" that we, society, have created. It's time we all sat up and smelled the catnip and live within our means before another consuming cycle begins. or it's Deja Vu all over again......

notwavesJan. 4, 10 6:14 AM

he would have most likely received a lighter sentence. Are we screwed up as a society or what.

notmetooJan. 4, 10 7:11 AM

Amen to that!

akornJan. 4, 10 7:22 AM

...do some in-depth investigating to see what kind of sentences Deanna Coleman and Larry Reynolds (Reservitz) receive after cutting secret deals with the prosecution to bring Petters down. Reservitz was already scamming people and destroying lives while Petters was still in diapers, yet he was set free in the witness protection program to do it all again. Too bad he wasn't given life a long time ago, and none of this might never have happened.

twirwinJan. 4, 10 7:36 AM

the left collectively wetting themselves over the glee of convicting another evil business man. If he had only been a member of congress, he probably being considering another pay increase for himself at this very moment.

mattystrongJan. 4, 10 7:48 AM

Once the snow ball start rolling down the hill it gets bigger and can't be stopped. Until it hits the bottom and crashes. Just ask Tom Petters. How many of us have been in situations where we have to do the right thing? Most of us do but he did not. GREED!

woodyguthJan. 4, 10 8:44 AM

Excrement runs downhill. The Denny Hecker saga is close behind. The total dollars involved are less certainly but the intent to deceive is every bit as powerful and moreover was done over such a broad range of people. Giant corporations, regional banks, local banks, his own partners, employees, customers in his car empire, and many disposable personal friends were very much hurt by this mans narcissistic sociopathic drive to live the good life. Reading about the Hecker's self sense of entitlement during this last year turns my stomach. A month before the meltdown last year Hecker is attempting to save his marriage by renegoticating his pre-nup with his wife to change it from 15 million to 1/2 of all that he has. Very clever and Denny we all see through that tactic. At the same time he is involved in a clandestine affair with another woman and perhaps women as the personal emails now part of the public record clearly demonstrate. Recent vacations to Aspen, Las Vegas and Hawaii, attempts buy another expensive home, failing to disclose assets to the bankruptcy trustee, when will it end. I am pleading with State of Minnesota, The Feds, the IRS to please end this nightmare ASAP.

dasher2Jan. 4, 10 8:52 AM

My concern is about the sentences the others will receive. Just because they turned against Petters and testified, one must remember that it was only when caught red-handed. The guideline sentencing that I've calculated put Catain at 17.5 years. However, I'm willing to bet that he and the others get off light, very light considering. To be able to cheat and steal on such a scale and get even a 5 year sentence will show others that the possibility of earning many 7 figures in cash only equates to a few years in prison. However twisted the math, many in society would take these odds as a reasonable gamble. Let's hope the judge sees through this logic.


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