Restitution list released in the case of Tom Petters

7:30 PM, Apr 29, 2010   |    comments
  • Share
  • Print
  • - A A A +

MINNEAPOLIS -- Federal prosecutors have released the preliminary restitution list in their case against Tom Petters. There are 434 people or entities on the list, and a quick check has found individual victims in every corner of Minnesota, and in every corner of the U.S.

The grand total owed by Petters, so far, adds up to $1.944 billion.

"A very diverse range of victims, some who are owed a few thousand dollars and some business entities who are owed as much as $165 million," Hamline School of Law Dean Donald Lewis explained.

Lewis says the final restitution order is due in early June, so the grand total and/or number of victims could change. Lewis also warned that on top of the 434 on the list, some of what's left of Petters' assets could go to civil plaintiffs and to creditors waiting on the bankruptcy court.

"There's just so little money to divvy up. This is like 200 people showing up at your house to fight over 3 pieces of pizza," Lewis said.

KARE 11 tracked down one couple in the West metro owed more than $200,000. The couple was advised by their broker not to talk, but did say they have received a very minuscule amount of the money they're owed, and the couple was hoping for more in the near future.

(Copyright 2010 by KARE. All Rights Reserved.)

Most Watched Videos