by Bob Geiger Staff Writer
Finance and Commerce | December 10, 2009 3:23 PM CST
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Well, it’s been eight days since Tom Petters was declared guilty on 20 counts of felony fraud. And the series of print ads pointing fingers at business associates of Petters and government prosecutors keeps growing and growing.
When we first visited this subject, we wrote about Minneapolis adman Bill Hillsman, head of North Woods Advertising, creating ads for the so-called Stop the Petters Scam Foundation, which ran a series of finger-pointing newspaper ads in the Minneapolis Star Tribune during jury deliberations.
The jury’s in, but the folks paying to place the ads still seem to have some extra cash to keep them coming. Not to mention the group, whose newspaper ads also are posted on the website www.stopthepettersscam.com, had some ads left on overset.
The Star Tribune earlier this week refused to keep running the ads because North Woods Advertising didn’t sign an advocacy advertising form before the series of ads started running.
That didn’t stop the series of ads from continuing, first on the group’s website with a “Censored by the Star Tribune” tag on them, then, on Thursday, putting a “Now in the (St. Paul) Pioneer Press” notice on both ads censored by the Star Tribune.
Thursday’s ad continued the finger-pointing by the Petters Scam Foundation, which is backed by Ritchie Capital Management LLC, a company that lost millions in the Ponzi scheme Petters was convicted of masterminding.
It highlights Larry Reynolds, a convicted con in the federal witness protection program, and his role helping Petters defraud investors of billions of dollars.
Like all the other ads in the series, Thursday’s ad teases an upcoming Friday ad, which, it claims, will outline “how the misdeed of the Metro Gang Strike Force resemble the government’s handling of the Petters case.”
Look for it in the St. Paul Pioneer Press.