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Thread: FBI raids billionaire Petters Co

  1. #1 FBI raids billionaire Petters Co 
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    The FBI raided, then arrested Tom Petters and some associates on Fraud, Ponzi Scheme and Obstruction of Justice charges.
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    The Feds had Petters under surveillance for quite some time and had Tom Petters on tape stating he intended to flee the country once the Presidential campaigns started in full gear. They also have substantial evidence that Petters instructed (obstructed) others to flee the country as well.
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    Strangely the Fed Press statement stipulated that Polaroid, Fingerhut and Ubid were not involved in the affair. The germane thing being that Haas had alerted everyone to Petters and his partner Paul Traub quite some time ago and was initially ignored.
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    Speciously you can find no online mentionings of Traub and Petters, while at the same time it appears that Traub exited from Petters Companies as early as the beginning of 2007 - before the feds started wiring a confidential witness on Petters.
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    http://www.startribune.com/business/...KUnciaec8O7EyU
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  2. #2  
    The Ambassador of Bad Ass mlmleads's Avatar
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    wonder what they were selling that they could raise 2 billion
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  3. #3  
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    He was conning non-profits looking to invest and grow their money. Simply pathetic.
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  4. #4  
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    Once he partnered with Paul Traub his ability to steal on a National and International level grew expedentially!
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  5. #5  
    The Great Govenor of California Railbird's Avatar
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    <TABLE cellSpacing=0 cellPadding=3 width="99%" border=0><FORM id=frmSortingPgHeading name=frmSortingPgHeading action=GalleryListing.asp?navtyp=GLS====204698&str=&styp=&sfld=&nbc1=1&sortval=3a method=post><TBODY><TR vAlign=center align=middle><TD style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-TOP: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid; BORDER-BOTTOM: medium none" width="24%">
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    </TD><TD width=1 rowSpan=3></TD></TR><TR vAlign=top><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Tim Pawlenty, Governor of Minnesota and Tom Petters</TD><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Tom Petters</TD><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Tom Petters and Jennifer Petters</TD><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Tom Petters and Jennifer Petters</TD></TR><TR><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid; BORDER-BOTTOM: #aaaaaa 1px solid" noWrap align=left width="24%" bgColor=#eeeeee>Details | Download
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    </TD><TD width=1 rowSpan=3></TD></TR><TR vAlign=top><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Tom Petters, David Spade and Jennifer Petters</TD><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Anne Marie Dillard, David Spade and AJ Discala</TD><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Congressman Jim Ramstad and Tom Petters</TD><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">David Spade</TD></TR><TR><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid; BORDER-BOTTOM: #aaaaaa 1px solid" noWrap align=left width="24%" bgColor=#eeeeee>Details | Download
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    </TD><TD width=1 rowSpan=3></TD></TR><TR vAlign=top><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">David Spade</TD><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Jessica Meisels, David Spade, Tom Petters and AJ Discala</TD><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Tom Petters and Jennifer Petters</TD><TD class=smTxt style="BORDER-RIGHT: #aaaaaa 1px solid; BORDER-LEFT: #aaaaaa 1px solid" width="24%">Tom Petters and Jennifer Petters</TD></TR></TBODY></FORM></TABLE>
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  6. #6 Petters is held without bail Trial set for Tuesday 
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    As the Feds had Petters (and others) on tape - planning to leave the country - Therefore he is being held without bail until a hearing on his Bail status on Tuesday.

    Paul Traub still has not been mentioned in any of the indictments
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  7. #7  
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    Judge appoints overseer on Petters Group Worldwide $2 billion in holdings
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    Sun Country Airlines, owned by Petters Group Worldwide files for Bankruptcy
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  8. #8  
    bushman eek.'s Avatar
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    Sounds perfectly reasonable.
    A guy who's sharp enuf to make a billion dollars would definitely shout down the public phonelines to the entire world that he's about to do a runner and flee the country.

    yup
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  9. #9 Petters fraudsters to plead guilty this week 
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    Local News station in Minn announces that several participants in the Petters fraud are pleading guilty this week.

    http://kaaltv.com/article/stories/S6...html?cat=10151
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  10. #10  
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    The whistle blower in the Petters saga - Deana Coleman - is pleading guilty. As is Robert White. This is just a week after the FBI raid on Petters Group Worldwide. - something smells Here!
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  11. #11  
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    Will Traub and his gang escape another fiasco - again!
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  12. #12  
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    Is the DOJ going to protect Traub at all costs
    http://fraud-corruption-mnat.blogtownhall.com/
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  13. #13  
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    Wonder what Monday morning will bring? A world record of pleading guilty within ten days has occurred by several individuals. Something smells rotten here and it ain't just the fleeced billions!
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  14. #14  
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    Petters Group Worldwide files for Bankruptcy - as the saga continues!
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  15. #15  
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    the Fed's seized the assets of Frank Vennes and other co-conspirators in the Petters Fraud
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  16. #16  
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    Petters case has gone quiet, the National Press refuses to tell the story about the $3 Billion in Fraud - WOW
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