Twin Cities businessman and philanthropist Tom Petters was arrested yesterday, charged with mail and wire fraud, money laundering and obstruction of justice.
Federal authorities said he may have been planning to flee the country.
As Muckety noted in an earlier post, agents searched Petters’ home and office this week, seeking evidence in a suspected scheme to defraud investors.
Prosecutors accused Petters yesterday of engineering a fraud that involved more than 20 investors and investment groups, pulling in more than $1 billion.
Petters resigned Monday as CEO and chairman of Petters Group Worldwide.
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