Your Money's No Good Here: Another Alleged Ponzi Fleecer Flees Palm Beach
Categories: Crime, Palm Beach
 |
| Flickr User: mspdigiparties |
| Tom Petters with his daughter Jennifer |
Just a part-time South Florida resident, Petters Group Worldwide is based in suburban Minneapolis. Still, it seems a function of how fraud stories have saturated South Florida media that Petters' case has received such little attention here. The Minneapolis Star-Tribune devoted a whole portion of its website, treating Petters as a "special project," whereas his alleged $3.5 billion fraud apparently hasn't impressed the Palm Beach Post enough to warrant an article.
Here's a short article on Petters' case from the Wall Street Journal. I suppose the fact that Petters had houses in five different states made it hard for him to develop much of a profile in South Florida. His six-bedroom house sold for just under $10 million. Not sure whether that was the house where his daughter Jennifer -- who is said to live in Florida -- was staying.
The Madoffs' Palm Beach home has been signed over to the government and whatever price it fetches will go toward paying pennies on the dollar for Madoff investors.
Email to Friend
Write to Editor
Print Article
