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Glen Stubbe, Star Tribune A receiver is appointed to run Petters' companies; more investors sue to recover money. By DAVID PHELPS, Star Tribune business or personal Were just the business assets frozen or were his personal assets frozen also? Will he be able to move all personal assets overseas to A federal judge Monday authorized the seizure of several billion dollars worth of assets related to an investigation of businessman Tom Petters and several of his businesses and associates, who allegedly carried out a massive investment fraud scheme. U.S. District Judge Ann Montgomery appointed Minneapolis attorney Doug Kelley as a receiver to oversee Petters Group Worldwide, Petters Co. Inc. and related companies. The order excluded Sun Country Airlines, which filed a Chapter 11 bankruptcy petition Monday. The government said in... [read full story]
