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.
Christmas shoppers are running out of time to find gifts for family and friends. That deadline pressure is exactly what scammers are using to steal your money and personal information.
Jordan Ode, a standout senior on Maple Grove High School's girls' basketball team, is averaging 26 points a game this year. With that kind of talent, she has already committed to a DI Big 10 college next year.
According to the Minnesota Department of Education, only 46.5% of third graders in the state are reading proficiently.
Health experts are offering tips on creating a more nutritious diet as new year's resolutions are put into action.
A 40-year-old Sartell woman has pleaded guilty in connection with a fraud scheme that cost two loan companies over $9 million.
Jordan Ode, a standout senior on Maple Grove High School's girls' basketball team, is averaging 26 points a game this year. With that kind of talent, she has already committed to a DI Big 10 college next year.
According to the Minnesota Department of Education, only 46.5% of third graders in the state are reading proficiently.
Health experts are offering tips on creating a more nutritious diet as new year's resolutions are put into action.
The Minnesota Department of Natural Resources is warning anyone going out on the ice over the holidays to check often for thickness.
Across the country, Christians are preparing to celebrate Christmas this week. In St. Paul, a nonprofit is working to ensure people in need enjoy the holiday, too.
According to the Minnesota Department of Education, only 46.5% of third graders in the state are reading proficiently.
Health experts are offering tips on creating a more nutritious diet as new year's resolutions are put into action.
A 40-year-old Sartell woman has pleaded guilty in connection with a fraud scheme that cost two loan companies over $9 million.
The Minnesota Department of Natural Resources is warning anyone going out on the ice over the holidays to check often for thickness.
From Gov. Tim Walz becoming the Democratic nominee for vice president to the whirlwind conclusion of Minnesota's legislative session, 2024 was packed with political highlights in the state.
Democratic Gov. Tony Evers has finally selected a new leader for the Wisconsin Department of Natural Resources.
The Centers for Disease Control says no person-to-person transmission has been detected and the risk to the general public remains low.
The man was flown to a hospital in Minnesota, but the department gave no word on his condition. No one else was hurt.
Xcel says the project is intended to replace the energy that will be lost when its coal-fueled power plant near Stillwater closes in 2028.
Minnesota and Wisconsin leaders are responding to the school shooting at Abundant Life Christian School in Madison, Wisconsin.
Dan Reed is on a campaign to get more people to become donors. The more people he can register, the higher up he gets on the transplant list.
Army veteran Delphine Littlewolf and her 7-year-old son Curtis have been living in her compact car for six months.
It looks like any other grocery store, but when you check out at Today's Harvest in Maplewood, shoppers aren't spending a dime.
The Buck Hill slopes played host to "Carve for a Cure" on Sunday, a fundraiser for the Leukemia and Lymphoma Society.
As an equestrian with years of experience, Jen Kelly has taken a tumble or two — until a tumble in September 2020 where she broke three vertebrae in her neck and crushed her spinal cord.
Jason Rantala looks at the changes several Twin Cities restaurants are making in response to a new Minnesota law taking effect on New Year’s Day.
The House Ethics Committee released its highly anticipated report on former Rep. Matt Gaetz, detailing allegations of sexual misconduct, drug use and obstruction. He denies wrongdoing.
From Gov. Tim Walz becoming the Democratic nominee for vice president to the whirlwind conclusion of Minnesota's legislative session, 2024 was packed with political highlights in the state.
President Biden is granting clemency to 37 of the 40 federal inmates facing death sentences. Their sentences will be commuted to life in prison without the possibility of parole.
A report by the House Ethics Committee found former Rep. Matt Gaetz paid multiple women, including a 17-year-old girl, for sex.
Christmas shoppers are running out of time to find gifts for family and friends. That deadline pressure is exactly what scammers are using to steal your money and personal information.
A 40-year-old Sartell woman has pleaded guilty in connection with a fraud scheme that cost two loan companies over $9 million.
If the snow can stick around, they could get back on track. But across the industry there is concern about what the Arctic Cat news means for snowmobile dealers.
For generations, it's been an iconic part of the Twin Cities, and now it has its very own song, thanks to one of Minneapolis' own.
It looks like any other grocery store, but when you check out at Today's Harvest in Maplewood, shoppers aren't spending a dime.
A 40-year-old Sartell woman has pleaded guilty in connection with a fraud scheme that cost two loan companies over $9 million.
Luigi Mangione pleaded not guilty Monday to state charges in the murder of UnitedHealthcare CEO Brian Thompson.
Police in southern Minnesota arrested an 18-year-old man in connection to a deadly shooting on Saturday.
The suspect drove through the doors of a JCPenny in Killeen, Texas, and continued inside for "several hundred yards," an official said.
Fraudsters have been posing as deputies reporting an "urgent" civil matter and more.
According to the Minnesota Department of Education, only 46.5% of third graders in the state are reading proficiently.
Health experts are offering tips on creating a more nutritious diet as new year's resolutions are put into action.
Mental health is a topic that some might feel uncomfortable talking about. In St. Louis Park there's one event trying to change that.
Minneapolis has softened an ordinance that prohibited obstructing entrances and driveways to abortion clinics after anti-abortion activists sued to challenge it on free-speech grounds.
Under the new law, aerosol dusters will need to be kept behind store counters, and can only sold to people 21 or older starting Jan. 1, 2025.
The lawsuit lays out Blake Lively's allegations against Justin Baldoni during their time working on "It Ends with Us."
Holidazzle is a free event with lights, stage performances, Santa, nearly 200 vendors and more. It runs Wednesday through Sunday.
For generations, it's been an iconic part of the Twin Cities, and now it has its very own song, thanks to one of Minneapolis' own.
Among the 25 films selected by the Library of Congress to be preserved for future generations are the Coen Brothers' "No Country for Old Men," "The Social Network," Cheech & Chong's "Up in Smoke," and "The Texas Chainsaw Massacre."
Thirty years ago on Friday, the Metropolitan Sports Center in Bloomington was demolished.
Watch an unforgettable moment during an Alexandria football game that brought the crowd to tears. Plus, a tough battle in boy’s basketball between Rockford and Zimmerman.
Jordan Ode, a standout senior on Maple Grove High School's girls' basketball team, is averaging 26 points a game this year. With that kind of talent, she has already committed to a DI Big 10 college next year.
The rivalry game has been flexed to a 3:25 p.m. start instead of the scheduled noon kickoff, the Vikings announced Monday.
Nicole Hensley made back-to-back saves in the shootout and the Minnesota Frost earned their fourth straight victory with a 4-3 shootout win over the New York Sirens.
Sam Darnold has inspired confidence in his coach and teammates throughout this career-changing season. With the Vikings facing another late deficit, they had no doubt he'd deliver.
Esme Murphy talks with Congressman Pete Stauber, who hopes to see President Biden’s 20-year moratorium on new mining near the Boundary Waters reversed by President-elect Donald Trump.
President-elect Donald Trump said he plans to reverse President Biden's 20-year moratorium on new mining near Minnesota's Boundary Waters Canoe Area Wilderness on his first day in office.
In this election, Klobuchar faired much better than all other Senate Democrats — she won by a significantly larger margin.
For Democrats the postmortem continues on why Vice President Kamala Harris and her Running mate Governor Tim Walz performed more poorly with almost every demographic than Joe Biden did in 2020. In Minnesota, Senator Amy Klobuchar did much better than Harris with some of those same groups.
As Election Day nears, experts say voters in Wisconsin and other battleground states will decide the 2024 presidential election winner.
During the first week of December, Little Falls holds Christmas tours around town. It's a chance for historic buildings to deck their halls and spread their cheer.
Duluth is known for its scenic views across the city, but one location stands out from the rest.
One family's creative design in central Minnesota allows guests to sleep under the stars — at any time of year.
"Thomas Dambo, he believes the trolls really help us kind of shine a light on how we can take better care of the environment and be better to each other," said Stearns.
There are a lot of quirky town names in Minnesota: Embarrass, Nowthen, Clontarff, Kiester. But the people of Nimrod believe their name stands out from the rest.
There are a lot of reasons to get distracted this time of year and to procrastinate.
It's a term that's being thrown around a lot these days. Some think it's a social thing, others a medical thing.
Every home has a distinct smell, and chances are your home smells just as strong to other people. Why can't we notice our own home's smell but we can notice everyone else's?
An important deadline is approaching, and we're not talking about Christmas shopping. End of semester exams are coming up for students of all ages.
Jeff Wagner dives into the cold-weather dating trend that has singles looking for love with a time limit.
Regions Hospital and Children's Minnesota share photos of their tiniest patients dressed to the nines for Halloween.
Minnesotans got a great view of the northern lights Thursday night due to the arrival of a severe geomagnetic storm.
Minnesotans got a great view of the northern lights Monday night.
Storms ripped through parts of Minnesota and western Wisconsin on Thursday evening. There were several reports of tornadoes and trees were downed in the metro and beyond, including in Cottage Grove, Anoka, Champlin and Fridley.
A powerful thunderstorm tore through the grounds of the Minnesota State Fair on Monday night, delaying Tuesday's opening.
The Twin Cities is in for a mild Christmas, says NEXT Weather Meteorologist Chris Shaffer.
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.
WCCO meteorologist Lisa Meadows says patchy fog is possible tonight in parts of Minnesota.
Highs will be just below freezing as the week begins, with freezing drizzle, freezing rain and snow possible across Minnesota and Wisconsin, says NEXT Weather Meteorologist Lisa Meadows.
After some precipitation on Monday, dry conditions and mild temperatures will take over for a few days.
Jordan Ode, a standout senior on Maple Grove High School's girls basketball team, is averaging 26 points a game this year. With that kind of talent, she has already committed to a DI Big 10 college next year.
The Twin Cities is in for a mild Christmas, says NEXT Weather Meteorologist Chris Shaffer.
Christmas shoppers are running out of time to find gifts for family and friends. That deadline pressure is exactly what scammers are using to steal your money and personal information.
Calling all eighties and nineties kids! Remember the Scholastic Book Fair? Get excited because you can live your middle school dreams by attending the Book Fair for Adults. It's happening at Inbound BrewCo in Minneapolis.
Across the country, Christians are preparing to celebrate Christmas this week. In St. Paul, a nonprofit is working to ensure people in need enjoy the holiday, too.