Edina hedge fund exec who invested with Petters pleads guilty

Full story: TwinCities.com

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.
Comments
1 - 3 of 3 Comments Last updated Apr 13, 2011
Timmy

Delano, MN

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

Minneapolis, MN

|
Report Abuse
|
Judge it!
|
#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

|
Report Abuse
|
Judge it!
|
#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.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Other Recent Minnetonka Discussions

Search the Minnetonka Forum:
Title Updated Last By Comments
Review: Halvorson's (Jun '11) Jul 24 Faribault Mn 25
Review: Solar Solutions Jul 24 Randy Jensen 1
Wayzata Cougars Jul 19 Cougar Den 3
Minnesota firefighters to search for 2 hikers Jul 13 Bellweather 2
Karen A. Geier Jul 9 John Geier 1
Afton neighbors concerned new sewer system will... Jun '14 Eric Burger 1
BAD LANDLORDS # 1 Mike he owns "MES" Properties (Aug '10) Jun '14 need new home 3
•••
•••
•••
Minnetonka Dating

more search filters

less search filters

•••

Minnetonka Jobs

•••
Enter and win $5000
•••
•••

Minnetonka People Search

Addresses and phone numbers for FREE

•••

Minnetonka News, Events & Info

Click for news, events and info in Minnetonka
•••

Personal Finance

Mortgages [ See current mortgage rates ]
•••