Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

DOJ: More than $16 million makes it way to Tom Petters' fraud victims


August 14, 2018

More than $16 million seized in connection with Tom Petters' massive Ponzi scheme is now being returned to hundreds of victims around the world, the U.S. Justice Department announced Monday.

Petters, 61, is serving a 50-year federal prison sentence for his role in a $2.1 billion fraud scheme — the largest financial fraud in Minnesota history — that authorities dismantled in 2008.


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