Petters to remain behind bars; Feds had no idea of scheme until...

Full story: TwinCities.com

This undated photo provided by the Sherburne County, Minn., Jail shows Minnesota businessman Tom Petters.
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1 - 20 of 57 Comments Last updated Dec 20, 2008
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WhatEver

Sierra Vista, AZ

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#1
Oct 9, 2008
 

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I don't believe that Deanna Coleman snitched. I think that the FBI approached her and told her that they knew what was going on. They told her that if she would cooperate with them and wear a wire, they would give her a lighter sentence. It just came down too quick. I believe the investigation was going on for some time, that Petters finally got wind of it. It is stated that Petters' accountant told him that the IRS was investigating his income tax returns. So how did the FBI find out about this crime? His girlfriend is in Rehab. I know that what ever is discussed there has to stay confidential. But I wonder if, just like the client-attorney relationship, if a crime is going to be committed and the attorney knows about it, he has an ethical obligation to come forward with that information. Do Psychologist have the same rule? She may have said something that she shouldn't have said. I don't believe Coleman is the snitch. She would have controlled her emotions better in court. She is a scapegoat. Another theory is that someone close to Petters, a business partner maybe? The one that only received a $250,000 bonus in December and the other partners received millions? Look at the picture of Petters and Jay Salmen, if looks could kill, Salmen would be dead. You will see more people charged with crimes here. Why was Sun Country allowed to file bankruptcy? Petters owns all the stock!
a local worker

United States

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#2
Oct 9, 2008
 
if he is really guilty, he show never get out.
FkObama

Saint Paul, MN

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#3
Oct 9, 2008
 

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Petters may get life in prison. Franklin Rains and James Johnson steal $100 Million from Fannie Mae and we, the taxpayers bail them out.
Olga Franco, kills four children and gets 12 1/2 years and could be paroled after eight. Anyone else see something wrong with this picture?
City Dweller

Saint Paul, MN

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#4
Oct 9, 2008
 

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FkObama wrote:
Petters may get life in prison. Franklin Rains and James Johnson steal $100 Million from Fannie Mae and we, the taxpayers bail them out.
Olga Franco, kills four children and gets 12 1/2 years and could be paroled after eight. Anyone else see something wrong with this picture?
By the awful name you post under, I am going to make the assumption that you blame all society's problems on the Democrats. In case you have not noticed, YOUR party has been running the country.

These are truly horrible things that you mention. We are messed up and our priorities show it.
Tim

Saint Paul, MN

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#5
Oct 9, 2008
 

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I agree. Great post 'City Dweller.'
lol

Saint Paul, MN

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#7
Oct 9, 2008
 

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this is the fault of george w. bush.
Billy James

Austin, TX

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#8
Oct 9, 2008
 

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City Dweller wrote:
<quoted text>
By the awful name you post under, I am going to make the assumption that you blame all society's problems on the Democrats. In case you have not noticed, YOUR party has been running the country.
These are truly horrible things that you mention. We are messed up and our priorities show it.
There you go putting words in other peoples mouths, like most Liberals do, at least most of the Liberals I know do it. That post never mentioned anything about what you are accusing him/her of...
Dick In Dixie

Eden Prairie, MN

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#9
Oct 9, 2008
 

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This guy is a pig. He knew exactly what he was doing. How do the idiots running pyramid schemes think it is going to last forever? Theses schemes always come to a head at some point. Moron. Greedy moron.
RYK

Saint Paul, MN

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#10
Oct 9, 2008
 

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It's always about Lies & Greed...Petters and the rest need to be severely punished. If the Feds didn't even know what was going on, how can "Joe" investor make informed decisions?
FkObama

Saint Paul, MN

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#11
Oct 9, 2008
 

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City Dweller ... First off, it isn't "My Party" when it contains the likes of RINO Coleman and Ramstad. I also don't believe you noticed, prior to 2006, gasoline prices were low, interest rates were low, unemployment was low, things were moving fairly well in this country. The Democrats gained power in the Senate and House in 2006, gasoline prices have skyrocketed, the economy has basically come to a stand still, unemployment is the highest its been in about five years, inflation is creeping up and up and you have the nads to say it was "my party"?
I see the "Change" you, Obama and the rest of your ilk are hoping for and don't want any part of it, I can't afford it.
And just to clear things up for you my name is Franklin Kenneth Obxxxx (not going to post my entire name here but is close).

“Who, me?”

Since: Jun 08

Amery

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#12
Oct 9, 2008
 

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lol wrote:
this is the fault of george w. bush.
Um, he started his fraud in 1995.....when CLINTON was president.

Republican or democrat has nothing to do with this. If you look back, both parties have their share of crooks.
This has nothing to do with politics, and everything to do with greed.

People really need to stop trying to blame everything on Bush, or the democrats. Let's face it, the country is full of slime balls that only look out for themselves.

Saying this is Bush's fault is like saying Cuba influences the outcome of the super bowl.
murray warmath

United States

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#13
Oct 9, 2008
 

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City Dweller wrote:
<quoted text>
By the awful name you post under, I am going to make the assumption that you blame all society's problems on the Democrats. In case you have not noticed, YOUR party has been running the country.
These are truly horrible things that you mention. We are messed up and our priorities show it.
Who has been running the Congress since 06 and who said that Fannie and Freddie were fine-Dodd and Frank and Maxine Waters!!!. Obama received the second most money from both. The democrat party is a criminal organization and has been for decades.
moby

Minneapolis, MN

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#14
Oct 9, 2008
 

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ottermann wrote:
<quoted text>
Um, he started his fraud in 1995.....when CLINTON was president.
Republican or democrat has nothing to do with this. If you look back, both parties have their share of crooks.
This has nothing to do with politics, and everything to do with greed.
People really need to stop trying to blame everything on Bush, or the democrats. Let's face it, the country is full of slime balls that only look out for themselves.
Saying this is Bush's fault is like saying Cuba influences the outcome of the super bowl.
Cuba doesn't influence the outcome of the Superbowl? I need to call Castro, that pile of garbage. He is going to pay me back every red cent, that little so and so.
WSP

Minneapolis, MN

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#15
Oct 9, 2008
 

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Wow, the greed just blows me away. He could have been a millioniare without being a crook.
angry american

Minneapolis, MN

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#16
Oct 9, 2008
 

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FkObama wrote:
City Dweller ... First off, it isn't "My Party" when it contains the likes of RINO Coleman and Ramstad. I also don't believe you noticed, prior to 2006, gasoline prices were low, interest rates were low, unemployment was low, things were moving fairly well in this country. The Democrats gained power in the Senate and House in 2006, gasoline prices have skyrocketed, the economy has basically come to a stand still, unemployment is the highest its been in about five years, inflation is creeping up and up and you have the nads to say it was "my party"?
I see the "Change" you, Obama and the rest of your ilk are hoping for and don't want any part of it, I can't afford it.
And just to clear things up for you my name is Franklin Kenneth Obxxxx (not going to post my entire name here but is close).
you are correct sir!!!!
Pat

Minneapolis, MN

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#17
Oct 9, 2008
 

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So didn't Channel 5's Joe Schmidt quit broadcasting to go work for Petters??? Where is he in all this mess?
not amused

Saint Paul, MN

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#18
Oct 9, 2008
 
Pat wrote:
So didn't Channel 5's Joe Schmidt quit broadcasting to go work for Petters??? Where is he in all this mess?
Yes, Schmidt does work for Petters Group and CJ in the Star Tribune has a report (yes, I know CJ is a gossip columnist) on Joe Schmidt and this Petters mess. She says he has lymphoma but is doing OK.
GolferJL

Lees Summit, MO

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#19
Oct 9, 2008
 

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Some of these posts are amazing, trying to put a political spin on a story about a con man, a common thief. Just what does politics, particularly when I am sure both parties candidates have received money from this crook have to do with anything. Get real folks. I cannot believe some of these idiotic posts.
This guy conned everyone from big business to the little guy. Read an interesting timely piece on CCO's web site about Petters.
The bigger issue is, this is "dirty money" we are talking about. Will these politicians return the money? And what about these Colleges and Universities that received large donations from Petters. All this money from a giant $3 billion dollar fraud scheme that lasted over 12 years. Altogether since 2000 Petters has given over $226,875.00 to campaign committees OF BOTH PARTIES!!!
Check out this web site for his various and sundry recipients of this "dirty money".
http://www.dolanmedia.com/view.cfm...

Now lets talk about his donations to colleges and universities:
College of St. Benedict $5.3 million
St. John's Univ.$2 million
Miami U of Ohio $10 million
Rollins College (Florida)$12 million
Now here is the best one of all. He recently donated to Miami University of Ohio an additional $4 million to the John T. Petters Center for Leadership, Ethics and Skills Development set to open as part of the new Farmer School of Business in fall 2009. I wonder if he was scheduled to teach a class in business ethics??
Open question to the Presidents of these higher institutes of learning. What are you going to do about returning this unethical "dirty money"?
That my folks is what big time crooks do to attempt to legitimatize their illegal operations.
They are still nothing more than a common street corner thief.
Pat from Stoney Ridge

Emily, MN

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#20
Oct 9, 2008
 
Folks like Petters have been around since the beginning of time and some of them will not get caught. I am just grateful that this parasite is getting justice. The system doesn't always work, but I for one am glad to see it work now -- I just wish it hadn't taken so long.
Your Name Here

Albuquerque, NM

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#21
Oct 9, 2008
 

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FkObama wrote:
Petters may get life in prison. Franklin Rains and James Johnson steal $100 Million from Fannie Mae and we, the taxpayers bail them out.
Olga Franco, kills four children and gets 12 1/2 years and could be paroled after eight. Anyone else see something wrong with this picture?
You sure nailed this one. AGREE!!!!!

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