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.
Posts Tagged ‘Deanna Coleman’
In 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.
On the stand, Tom Petters admitted to telling his personal assistant that he had sex with Deanna Coleman in a gondola.
Tom 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.
Federal 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.
Assistant 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.
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.
ST. 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.
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.
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.