I’m No Lawyer…

…and I have only followed the Petters trial in the most cursory possible depth. 

But I suspect that…

Petters said two top executives of Petters Co. Inc. (PCI), Deanna Coleman and Robert White, filled the company’s balance sheet with constantly maturing promissory notes that eventually broke the company and cost investors $3.65 billion.

Coleman and White generated bogus merchandise transactions as Petters worked on other elements of his conglomerate, Petters Group Worldwide, and grieved over the 2004 murder of his son John in Italy, Petters told jurors.

A tearful Petters recounted at his fraud trial that he paid “little, if any” attention to PCI after his son’s death.

PCI was the main vehicle in the scheme aby the government. Petters said he thought the company was doing “a few deals here and there,” and that it was “tremendously profitable.”

…”the dog ate my homework” is not much of a legal defense.

Just saying.

5 thoughts on “I’m No Lawyer…

  1. I find it surprising that his game room store down on Crosstown/Lyndale is still open. Or at least it seemed like it was still in use last time I drove by it on 62 a few weeks ago

  2. I don’t get down there much, but isn’t the game store actually “Peter’s?”

    Or am I missing something?

    (Like “the joke?”)

  3. I’m betting he won’t have to worry what clothes to wear on a given day for many years.

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