Article: Assets recovered from Tom Petters Ponzi scheme reach $722 million

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Assets recovered from Tom Petters Ponzi scheme reach $722 million

Dana Thiede, 15 June 2021

MINNEAPOLIS — A bankruptcy trustee’s search to recover assets linked to one of the largest financial crimes in Minnesota’s history has netted $722 million.

Doug Kelley says his work to collect assets from Tom Petters’ $1.9 billion Ponzi scheme is nearly done, 13 years after the search began.

Petters, now 63, was indicted in 2008 on multiple counts of mail fraud, wire fraud, money laundering and conspiracy for operating a scheme which spanned 26 countries, including the the Cayman Islands, Germany and Switzerland. Continue reading “Article: Assets recovered from Tom Petters Ponzi scheme reach $722 million”

Article: Money returned to victims of nearly $2 billion Ponzi scheme totals $722 million

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Money returned to victims of nearly $2 billion Ponzi scheme totals $722 million

MARY DIVINE, 15 June 2021

Doug Kelley has been working since 2008 to help organizations and individuals who lost billions in the Twin Cities businessman Tom Petters’ Ponzi scheme, the biggest financial crime in Minnesota history.

The bankruptcy trustee’s search to collect assets linked to Petters’ $1.925 billion scheme spanned 26 countries, including the Cayman Islands, Luxembourg, Germany, Switzerland, the Netherlands and the British Virgin Islands.

Now, after 13 years, he says his work is almost done. Continue reading “Article: Money returned to victims of nearly $2 billion Ponzi scheme totals $722 million”

Article: Senators Call For Investigation Into Packer Market Manipulation

Article - Media, Publications

Senators Call For Investigation Into Packer Market Manipulation

wnax, 21 May 2021

Senators Mike Rounds of South Dakota and Tina Smith of Minnesota are asking Attorney General Merrick Garland to examine whether the control large meatpackers have over the beef processing market violates U.S. antitrust laws and principles of fair competition. They wrote a letter to the AG this week and are inviting all members of Congress to join them. This isn’t the first investigation on this issue, but Rounds says both producers and consumers are at the center of this examination.

Two similar DOJ investigations are still underway with no results. However, Senator Rounds says they have evidence those are moving forward and are calling for action from the AG’s office if there is proof of wrongdoing. He thinks there is a better chance of getting some action under this AG and administration. Continue reading “Article: Senators Call For Investigation Into Packer Market Manipulation”

Article: Court of Appeals dismisses all but 2 allegations in Hunter vs. Crosby case

Article - Media, Publications

Court of Appeals dismisses all but 2 allegations in Hunter vs. Crosby case

Jennifer Kraus, 19 May 2021

The Minnesota Court of Appeals Monday, May 17, dismissed 29 of 31 claims made by Crosby Mayor James Hunter against Crosby city officials — sending the remaining two back to district court for review.

Hunter, who was elected mayor in the November 2020 election, appealed the Crow Wing County District Court’s Aug. 7 decision to dismiss his defamation case. Hunter filed the defamation case Sept. 9, 2019, stating he lost his reputation, his elected office and spent over two years of his life charged with serious crimes as a result of the actions of Crosby city officials. Continue reading “Article: Court of Appeals dismisses all but 2 allegations in Hunter vs. Crosby case”