A prominent businessman in the Minneapolis-St. Paul area - one who got his start selling electronics and whose holding company now owns the Polaroid brand- was indicted Monday on multiple federal charges, adding to additional crimes with which he had earlier been charged.
Thomas Petters, founder of Petters Group Worldwide prior to his resignation after news of the scandal broke in October, has now been indicted on 20 separate counts of wire fraud, mail fraud, conspiracy and money laundering, the Star Tribune reported.
Petters, the newspaper said, will plead not guilty and is scheduled to stand trial in February.
In the 1970s, Petters began his business career by founding a a mail-order stereo company called Ear Electronics, and was later regional manager of an electronics store chain in Colorado. Petters Group Worldwide purchased the Polaroid brand in 2005.
Don't you think you have enough time now to verify.
Lagest perpetrated scheme in American history. It doesn't get much press. 3.5 to 4 billion is missing. Petters will get life but his co-conspiriters will barely go to jail. They will get out to hidden tens of milions. US attorney should take each one to trial one by one, win or lose. Instead they want only the big fish for political accolades. Thousand of family's retirements and life savings have been lost.