Edina hedge fund exec who invested wi...

Edina hedge fund exec who invested with Petters pleads guilty

There are 3 comments on the TwinCities.com story from Apr 8, 2011, titled Edina hedge fund exec who invested with Petters pleads guilty. In it, TwinCities.com reports that:

A former executive of a Minnetonka-based hedge fund that invested in the Tom Petters Ponzi scheme pleaded guilty this morning to securities fraud and lying to investigators.

Join the discussion below, or Read more at TwinCities.com.

Timmy

Maple Plain, MN

#1 Apr 8, 2011
Hmmm. Wonder who they're using her to go after? Somebody's losing some sleep...
Billy

Minneapolis, MN

#2 Apr 9, 2011
Kid Cann is the man they're after. He and Carl Pohlad form the Minneapolis Combination of ghosts.
WestEnd

Minneapolis, MN

#3 Apr 13, 2011
I don't buy the "ignorance as defense" in this case at all, mainly because this woman knowingly lied to the SEC only 4 months ago (Dec 14 2010), despite having been able to reflect on the whole situation for 2+ years. She is cooperating only becuase she realizes she has been cornered, not because she was an innocent person that happened to stumble into a massive ponzi scheme. PCI started missing payments in late 2007 early 2008, yet she indicates that she didn't realize it was a ponzi until Sept 2008, when PCI's offices were raided! Hmmm...when your current investor's notes are in default of their interest payments, yet you knowingly market the investment under false pretenses?? Is that normal business practice?? Wouldn't the lightbulb come on in your dim blond head?? Perhaps one too many jello shots.

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