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Did Petters Do Well Enough at Trial to Save Himself?

Wednesday, November 25th, 2009

The fate of Minnesota businessman Tom Petters is now, as we write, in the hands of a federal jury in St. Paul. Click here for the AP story on deliberations; here for a Bloomberg story on the end of the testimony and arguments; here for other recent LB posts on Petters, who’s been accused of masterminding a $3.5 billion Ponzi scheme.


Endgame for Petters trial: Jury gets case, will resume Tuesday

Monday, November 23rd, 2009

mpls_st_paul_biz_journal_logoIn closing arguments at the Tom Petters trial Monday, prosecutors emphasized Petters’ leadership role in a Ponzi scheme that defrauded investors of $3.5 billion, while the defense portrayed him as a victim of con artists.


City Pages: The Trial of Tom Petters – Day 17

Saturday, November 21st, 2009

On the stand, Tom Petters admitted to telling his personal assistant that he had sex with Deanna Coleman in a gondola.


Petters: Employees ’set me up’; closing arguments Monday

Saturday, November 21st, 2009

mpls_st_paul_biz_journal_logoTom Petters’ testimony in his own defense wrapped up Friday morning, with Petters claiming that former employee and key government witness Deanna Coleman set him up with “prefabricated questions” in secretly-recorded conversations.


Petters sticks to his story as prosecutor takes his turn

Friday, November 20th, 2009

pioneer_press_logoFederal prosecutors got their chance to chip away at Tom Petters’ version of reality Thursday.

Under aggressive questioning about his professional and personal life from Assistant U.S. Attorney Joseph Dixon, the 52-year-old former CEO spent almost five hours explaining everything from his definition of the word “false” to his relationship with Deanna Coleman.


Cross-examination of Tom Petters begins

Thursday, November 19th, 2009

mpls_st_paul_biz_journal_logoAssistant U.S. Attorney Joe Dixon began his cross examination of Tom Petters Thursday morning, grilling Petters about his claim that he knew nothing of the fraud at Petters Co. Inc. (PCI), a company he owned and led as CEO.


City Pages: The Trial of Tom Petters – Day 15

Wednesday, November 18th, 2009

Petters said he was too grief-stricken to be fully in charge of the business, but he also boasted about his deal-making with big merchandisers and his business trips all over the world.


Prosecution cross-examines Tom Petters

Wednesday, November 18th, 2009

Kare 11 News LogoST. PAUL, Minn. — The defense team for Tom Petters wrapped up it’s direct examination of the embroiled CEO Thursday morning, and now prosecutors have their shot at poking holes in his case.


Petters claims ignorance to scheme

Wednesday, November 18th, 2009

mpls_st_paul_biz_journal_logo Tom Petters testified on Wednesday afternoon that he was largely removed from Petters Co. Inc.’s operations, trusting executives Deanna Coleman and Bob White to run the business while he focused on other ventures and charitable giving.


City Pages: The Trial of Tom Petters – Day 10

Wednesday, November 11th, 2009

Day 10: The prosecution played the rest of the September 17, 2008 recording of a meeting in Tom Petters office. The recording was made with a wire planted on Deanna Coleman.