Tom Petters Net Worth of 50 Thousand Dollars

Tom Petters is an American businessman with a net worth of fifty 1000. Tom Petters came into this world in St. Cloud, Minnesota in July 1957. He was the chairman as well as CEO of Petters Group Worldwide but was convicted of massive company fraud in 2009. Petters is imprisoned at Penitentiary is Stated by the United, Leavenworth. He resigned as his company's CEO in September 2008 and was convicted of numerous federal crimes for operating Petters Group Worldwide as a Ponzi scheme worth 3.65 billion. A fifty year federal sentence was received by petters. Petters was convicted of ten counts of wire fraud, three counts of mail fraud, five counts of money laundering, and a count each of conspiracy to commit wire and mail fraud and of conspiracy to commit money laundering. Petters started a mail order stereo company known as Ear Electronics while he was in high school. He purchased 5 electronics stores in Kansas and Colorado. Amicus Trading was foundered by him as well as later changed the title to the Petters Company. He started Petters Warehouse Direct to sell overstock merchandise and closeout. Petters teamed up with Fingerhut Companies Inc. to start the new online shop Redtagbiz.com.

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