Shakopee man sentenced for role in $3.1 million ponzi scheme
Shakopee man is sentenced for role in $3.1 million ponzi scheme
Watch CBS News
Shakopee man is sentenced for role in $3.1 million ponzi scheme
After his arrest, Ray Brewer claimed he saved several soldiers from a fire while serving in the Navy, but later admitted, "these were both lies meant to curry favor with law enforcement."
A federal jury has awarded a record $564 million in damages to victims of a massive Ponzi scheme by Minnesota businessman Tom Petters.
Last week a judge granted a motion to freeze the couple's assets. Jason and Angela Bullard have one more day to give the court the estimated value of all property, along with how much investors say they are owed.
"They're alleging a very classic Ponzi scheme, much modeled after [Bernie] Madoff," attorney Doug Kelley said.
The Department of Justice announced Wednesday that the money will be distributed to approximately 364 people worldwide. This money is in addition to the $16 million that was initially distributed to victims.
Sixty-eight-year-old James Nickels earlier pleaded guilty to wire fraud. Prosecutors say Nickels convinced family, friend and neighbors to invest in his sham business.
About $16.4 million stolen by Tom Petters has now been returned to 364 investors.
Federal authorities say a Minnesota man accused of bilking investors of more than $1 million has pleaded guilty.
A Twin Cities chiropractor who has already spent time in prison for a Ponzi scheme is going back for the same crime.
A St. Paul man is charged with stealing more than $350,000 from a Minnesota brewery, and stealing almost as much from others in an alleged Ponzi scheme.
A 40-year-old man pleaded guilty Tuesday to stealing from investors in his wealth management company and using the money to buy a luxury SUV and run a Ponzi-style scheme.
Jury selection begins Monday for the trial of former Minnesota Vikings Stu Voigt. Voigt and his business partner Jeffrey Gardner head to federal court this week for allegedly bilking investors out of millions of dollars. The two face several criminal charges in connection to a real estate scheme between 2005 and 2007.
More than seven years after the financial collapse of one Minnesota's most powerful businessmen, victims are still waiting for money.
Former Minnesota Vikings tight end Stu Voigt has pleaded not guilty in an alleged Ponzi scheme. Voigt entered his plea Thursday after being indicted earlier in April on charges of conspiracy and fraud.
Two Minnesota men, including a former Minnesota Vikings tight end, are charged with running a Ponzi scheme that defrauded investors out of millions of dollars. The U.S. Attorney's office says 66-year-old Stu Voigt and 61-year-old Jeffery Gardner face several criminal charges in connection to a real estate scheme between 2005 and 2007.
A Eden Prairie man plead guilty Wednesday to using his financial planning firm to operate a Ponzi scheme to fraudulently obtain millions of dollars from former clients, according to U.S. Attorney Andrew Luger. Sean Meadows, 41, plead guilty to three counts of mail fraud, seven counts of wire fraud and money laundering offenses.
Federal prosecutors say a Minnesota man has pleaded guilty to defrauding investors of more than $19 million. Fifty-five-year-old Tyrone Herman of St. Anthony entered his plea Friday in U.S. District Court. According to court documents, Herman claimed he could purchase small appliances from manufacturers and wholesalers at below-retail market rates.
The final three defendants have been sentenced in the $3.65 billion Ponzi scheme led by Minnesota businessman Tom Petters. U.S. District Judge Richard Kyle handed down a 7 ½-year sentence Friday to hedge fund manager Bruce Prevost for his role in misleading investors in Palm Beach Capital Management, a Florida hedge fund that put money into Petters' scheme before it collapsed in 2008.
The man found guilty of orchestrating Minnesota's largest Ponzi scheme finally admitted on Wednesday that he did it. Tom Petters was in U.S. District Court in St. Paul on Wednesday trying to get 20 years shaved off his prison sentence.
Convicted Minnesota businessman Tom Petters returns to federal court this week to try to shorten his 50-year prison term. The attempt to get 20 years removed might be Petters' last chance to go after a lighter sentence.
Frank Elroy Vennes Jr. was sentenced to 180 months in prison on Friday, in connection with fraudulently raising money through hedge funds for investment in Petters Company. Vennes was a long-time associate of Thomas J. Petters, the Minnesota businessman convicted in 2009 of orchestrating a $3.65 billion Ponzi scheme.
Despite owing his victims more than $1 million, a Twin Cities chiropractor twice convicted of fraud again has his license to practice. Fifteen years ago, Randy Miland served two years in prison for a Ponzi scheme. He later served another three years for a real estate investment scam. A judge ordered Miland to pay more than one-and-a-half million dollars in restitution. That hasn't happened.
The fourth man convicted in a $194 million Ponzi scheme - the second largest in Minnesota history - was sentenced Monday to 240 months in federal prison. According to the U.S. Attorney General's office, 75-year-old Patrick Kiley of Burnsville was convicted last June of 12 counts of wire and mail fraud, one count of conspiracy to commit mail and wire fraud and two counts of money laundering. Kiley - along with ring leader Trevor Cook, Jason Bo-Alan Beckman, Gerald Joseph Durand and Christopher Pettengill – were all solely and jointly ordered to pay $155,359,411 in restitution to their victims.
A former associate of convicted Minnesota businessman Tom Petters has pleaded guilty to lying to investors in a $3.65 billion Ponzi scheme.
Kirill Kaprizov scored his 37th goal of the season, Matt Boldy notched his 36th, and Filip Gustavsson earned his fourth shutout of the season as the Minnesota Wild defeated the Utah Mammoth 5-0 on Tuesday night.
Minnesota lakes remain frozen. The people walking on trails around them remain bundled up. After a warm start to March, the seasonal shift is sputtering as it often tends to do.
A Minnesota father and son who work as first responders received a lifesaving award Tuesday, meeting for the first time with the young boy they rescued and his family.
On at least 23 occasions, federal agents in Minnesota detained people solely on the basis of their race during Operation Metro Surge. That's according to a federal judge who issued a ruling based on an ongoing lawsuit brought on by the ACLU of Minnesota.
About 200 gallons of oil has leaked out of the Monticello Nuclear Generating Plant in southern Minnesota, according to Xcel Energy.
Minnesota lakes remain frozen. The people walking on trails around them remain bundled up. After a warm start to March, the seasonal shift is sputtering as it often tends to do.
A Minnesota father and son who work as first responders received a lifesaving award Tuesday, meeting for the first time with the young boy they rescued and his family.
On at least 23 occasions, federal agents in Minnesota detained people solely on the basis of their race during Operation Metro Surge. That's according to a federal judge who issued a ruling based on an ongoing lawsuit brought on by the ACLU of Minnesota.
Wednesday marks the 50th anniversary of the first Minnesota state high school girls basketball tournament, and Lisa Lissimore and Kathie Eiland Madison are reflecting on the history they made back in 1976.
The fight to keep Minneapolis' Hennepin County Medical Center open is in full swing, with leaders saying the hospital is in grave danger of closing after Medicaid cuts and budget confusion.
Minnesota lakes remain frozen. The people walking on trails around them remain bundled up. After a warm start to March, the seasonal shift is sputtering as it often tends to do.
About 200 gallons of oil has leaked out of the Monticello Nuclear Generating Plant in southern Minnesota, according to Xcel Energy.
Wednesday marks the 50th anniversary of the first Minnesota state high school girls basketball tournament, and Lisa Lissimore and Kathie Eiland Madison are reflecting on the history they made back in 1976.
Two members of Minnesota's Albert Lea Police Department — Officer Josh Knudson and Sgt. Alex Kunkel — are being honored for their professionalism and teamwork that saved the life of a 7-year-old girl.
The investigation includes two deaths and an incident where a border patrol commander threw tear gas into a Minneapolis park, prosecutors say.
As the war in Iran evolves, National Guardsmen from Wisconsin are being recognized for what they are doing in the Middle East.
It's the season for booking those spring break getaways, and if you're looking to skip the airport this year, take a page out of the Condé Nast Traveler.
A judge has sentenced a Wisconsin man who forged threats against President Donald Trump as part of a deportation scheme to 16½ years in prison.
A fire at a hotel in Superior, Wisconsin, Monday night left one person hurt and forced guests to move to new lodgings.
Excitement is in the air in northern Wisconsin with the 52nd annual American Birkebeiner underway.
The Minnesota Department of Corrections says 95% of all incarcerated individuals will eventually be released from prison. The DOC says it does all it can to help people transition back into the community as productive citizens.
Minnesota native and World War II veteran Les Schrenk died earlier this week. He was 102 years old.
People from across the nation are traveling to the Twin Cities, but not as tourists. Many want to learn in person from Minnesota protestors to bring that knowledge back to their own cities.
The Edina wife and mother of three said she felt called to go and protest in south Minneapolis after learning that Alex Pretti had been shot and killed by two Border Patrol agents.
Tuesday afternoon, more than 20 people gathered on the Highway 62 bridge between Minneapolis and Richfield after a small protest sparked a confrontation there last week.
On at least 23 occasions, federal agents in Minnesota detained people solely on the basis of their race during Operation Metro Surge. That's according to a federal judge who issued a ruling based on an ongoing lawsuit brought on by the ACLU of Minnesota.
The fight to keep Minneapolis' Hennepin County Medical Center open is in full swing, with leaders saying the hospital is in grave danger of closing after Medicaid cuts and budget confusion.
The investigation includes two deaths and an incident where a border patrol commander threw tear gas into a Minneapolis park, prosecutors say.
The fight to keep Minneapolis' Hennepin County Medical Center open is in full swing, with leaders saying the hospital is in grave danger of closing after Medicaid cuts and budget confusion.
A month after federal immigration officials concluded what activists are calling the largest immigration crackdown in the nation's history, community hearings and criminal investigations into the operation continue to intensify across the Twin Cities.
Drivers are bracing themselves for higher prices when they pull up to gas stations. But the pump isn't the only place you can expect to pay more in the weeks ahead.
For families already feeling the financial squeeze, medical debt can pile up, even with insurance. But managing, negotiating or forgiving that debt is possible thanks to some nonprofits providing relief.
With severe weather season right around the corner, what homeowners need to know about the evolving coverage for your roof.
Gas prices in Minnesota are climbing, mirroring a national trend experts say is at least in part caused by the U.S. and Israel attacking Iran.
It's the season for booking those spring break getaways, and if you're looking to skip the airport this year, take a page out of the Condé Nast Traveler.
On at least 23 occasions, federal agents in Minnesota detained people solely on the basis of their race during Operation Metro Surge. That's according to a federal judge who issued a ruling based on an ongoing lawsuit brought on by the ACLU of Minnesota.
Two members of Minnesota's Albert Lea Police Department — Officer Josh Knudson and Sgt. Alex Kunkel — are being honored for their professionalism and teamwork that saved the life of a 7-year-old girl.
The investigation includes two deaths and an incident where a border patrol commander threw tear gas into a Minneapolis park, prosecutors say.
The Minnesota Department of Corrections says 95% of all incarcerated individuals will eventually be released from prison. The DOC says it does all it can to help people transition back into the community as productive citizens.
A 58-year-old man is accused in a hit-and-run in Eagan, Minnesota, over the weekend that left a woman dead.
The fight to keep Minneapolis' Hennepin County Medical Center open is in full swing, with leaders saying the hospital is in grave danger of closing after Medicaid cuts and budget confusion.
For families already feeling the financial squeeze, medical debt can pile up, even with insurance. But managing, negotiating or forgiving that debt is possible thanks to some nonprofits providing relief.
One in six struggle to get pregnant or stay pregnant, according to analysis by infertility associations, and many cannot afford treatments due to high out-of-pocket costs.
HHS Secretary RFK Jr. wants the popular coffee chains to prove their surgery drinks are safe for teens and suggested the Trump administration could place limits on your cup of coffee.
Tests of dozens of baby formulas by Consumer Reports found that nearly half contained potentially dangerous chemicals.
A woman was arrested on Sunday for firing multiple shots at the Beverly Hills home of Rihanna, Los Angeles Police Department officials say.
Valleyfair in Shakopee, Minnesota, will soon come under new ownership.
A new art exhibition in Shoreview, Minnesota, is inviting visitors to see art — and maybe themselves — a little differently.
Actor and filmmaker Bruce Campbell told fans that he is in treatment for cancer and will cancel some upcoming public appearances.
The Minnesota Wild and St. Paul Mayor Kaohly Her announced a $600 million plan on Tuesday to renovate the team's arena and connected venues.
Kirill Kaprizov scored his 37th goal of the season, Matt Boldy notched his 36th, and Filip Gustavsson earned his fourth shutout of the season as the Minnesota Wild defeated the Utah Mammoth 5-0 on Tuesday night.
Wednesday marks the 50th anniversary of the first Minnesota state high school girls basketball tournament, and Lisa Lissimore and Kathie Eiland Madison are reflecting on the history they made back in 1976.
Cory Thiesse made history at the Milan-Cortina Winter Olympics as the first American woman to medal in curling, taking home silver in curling mixed doubles.
The Minnesota Vikings have several positions that need attention after last season when the team went 9-8 and was third in the NFC North.
The Minnesota Vikings have agreed to terms with free agent cornerback James Pierre, according to NFL Network reporter Cameron Wolfe, in an effort to improve the team's secondary.
Minnesota Democratic Rep. Angie Craig, who is running for U.S. Senate, says she now regrets her vote in favor of the Laken Riley Act last year.
With severe weather season right around the corner, what homeowners need to know about the evolving coverage for your roof.
With severe weather season right around the corner, what homeowners need to know about the evolving coverage for your roof. In Talking Points, Esme Murphy spoke with Grace Arnold, Department of Commerce commissioner about what's driving rising insurance premiums and what you should look from in home insurance coverage.
The month of March will be a pivotal one as Minnesota attempts to emerge from the shadow of massive fraud.
The month of March will be a pivotal one as Minnesota attempts to emerge from the shadow of massive fraud.
One of the oldest operating theaters in the Midwest is in danger of closing its doors for good.
In St. Louis Park, Minnesota, there's a place where you can find radio and television technology that's nearly a century old — and it still works.
One of the best views in Minnesota is at the top of a Bloomington hill. But 15-year-old Jacob Larson isn't here for the scenery. He's here for the jump.
Pine trees are a common sight up north. But on a Carlton, Minnesota, road, they're joined by giant lollipops. They serve as the welcoming committee for Sweetly Kismet, one of the largest candy stores in the state.
John Lauritsen shares the story behind a massive snow sculpture that's now become a winter destination.
Minnesota lakes remain frozen. The people walking on trails around them remain bundled up. After a warm start to March, the seasonal shift is sputtering as it often tends to do.
Drivers are bracing themselves for higher prices when they pull up to gas stations. But the pump isn't the only place you can expect to pay more in the weeks ahead.
A push for stricter gun laws in Minnesota is not new. However, this session comes on the heels of a devastating mass shooting last summer in which the target was students in prayer at Annunciation Catholic School in Minneapolis.
The military strikes against Iran have sparked intense debate in Congress. U.S. lawmakers are not only split on whether to support the operation but also on whether President Trump should have sought congressional approval in advance. WCCO investigates how the Constitution defines declarations of war.
Traveling is already stressful, especially flying, but the deadly conflict south of the border might have some travelers second-guessing their upcoming trips.
Minnesotans got a great view of the northern lights Tuesday night.
A look at the newest addition to the polar bear population at St. Paul, Minnesota's Como Zoo.
From food shelves to school programs, our team is proud to serve where it matters most.
The Minnesota State Fair has unveiled its new food, drinks and vendors for 2025.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
Minnesota lakes remain frozen. The people walking on trails around them remain bundled up. After a warm start to March, the seasonal shift is sputtering as it often tends to do.
In Minnesota, weather can be all over the place. Here at WCCO, we want to give you what you need to prepare for what's happening next.
The first of three rounds of snow arrives in Minnesota Tuesday night, with just enough accumulation to slow the Wednesday morning commute, says NEXT Weather meteorologist Chris Shaffer.
Rain will turn to snow overnight in parts of the Twin Cities, WCCO meteorologist Chris Shaffer reports.
Rain will turn to snow overnight in parts of the Twin Cities, WCCO meteorologist Chris Shaffer reports.
Minnesota lakes remain frozen. The people walking on trails around them remain bundled up. After a warm start to March, the seasonal shift is sputtering as it often tends to do.
A Minnesota father and son who work as first responders received a lifesaving award Tuesday, meeting for the first time with the young boy they rescued and his family.
On at least 23 occasions, federal agents in Minnesota detained people solely on the basis of their race during Operation Metro Surge. That's according to a federal judge who issued a ruling based on an ongoing lawsuit brought on by the ACLU of Minnesota.
The first of three rounds of snow arrives in Minnesota Tuesday night, with just enough accumulation to slow the Wednesday morning commute, says NEXT Weather meteorologist Chris Shaffer.
Wednesday marks the 50th anniversary of the first Minnesota state high school girls basketball tournament, and Lisa Lissimore and Kathie Eiland Madison are reflecting on the history they made back in 1976.