Ponzi Roundup: Two Guilty Pleas and International Clawback

By | Ponzi Clawbacks | April 4, 2014

Tom Petters: Clawback efforts in the aftermath of Minnesota mega-fraudster Thomas Petters’ $3.65 billion Ponzi scheme have escalated to a new level, with the case’s bankruptcy trustee looking to pursue actions to recover funds in several foreign countries. Asserting that “potentially hundreds of millions of dollars” found their way to international investors, Trustee Douglas Kelley’s lawyers have made a request with Chief US Bankruptcy Judge Gregory Kishel for authority to act abroad as representatives of the Petters estate.