Tom Petters

     I'm sure that most of you have heard about the Tom Petters case; the man who is accused of mail fraud, wire fraud, and money laundering. A recent report was released say that a judge has asked Mr. Petters to remain in police custody while prosecutors build a case. This case is based on over billions of dollars of innocent investors money.

     Robert White, one of the men also charged in the case, has pleaded guilty to wire and mail fraud in exchange for cooperation in the case; he admitted to setting up false documents for investors so that Petters would be able to receive money. Another one of Petters' associates, Deanna Coleman, was the informant of the case; she deeply regretted her involvement in the case and decided to turn the whole conspiracy in.  Petters had reportedly paid Coleman over $5 million dollars over the course of her employment and even the authorities did not even know about this case until it was brought to the attention of the FBI and IRS.