Claims include a $25,000 donation to the Trent Tucker Non-Profit Organization; $3.2 million in bonuses and compensation from former Petters Group Worldwide President and onetime Polaroid CEO Mary Jeffries, and $2.7 billion from Frank Vennes, the former Shorewood businessman and convicted felon who helped steer smaller investors into the Petters operation.
--snip--
And then there's Vennes, the shadowy Petters associate who, after funneling large amounts of funds into the Petters operation, was forced into receivership by a federal judge along with Petters.
Vennes has never been charged in the criminal case involving Petters, although he was captured on a tape recording when Petters -- who is serving a 50-year prison sentence on fraud and conspiracy charges -- and his co-defendants were discussing the fraud.
Since the Ponzi scheme collapsed two years ago, a court-appointed receiver has been disposing of Vennes' assets, including property, in order to repay victims. However, in two years, receiver Gary Hansen has collected $6.3 million, far less than the multiple billions sought by Kelley, although considerable real estate owned by Vennes is still on the market.
Oct. 14th, the SEC charged Vennes associates Bruce F. Prévost and David W. Harrold with fraudulently funneling more than a billion dollars of investor money into the Petters Ponzi scheme.
An audio selection from the wire of Deanna Coleman. Tom Petters, Bruce Prevost and Frank Vennes Jr. at a meeting 9/9/08.
No comments:
Post a Comment