Thomas Petters' house

The founder, chairman and CEO of Petters Group owns this house. Petters Group Worldwide was an American diversified company based in Minnetonka, Minnesota that was turned into a $3.65 billion Ponzi scheme. It had 3,200 employees and investments or full ownership in 60 companies.

On October 13, 2008, Petters Group Worldwide filed for Chapter 11 bankruptcy. On December 2, 2009, Tom Petters was convicted on all counts related to this Ponzi scheme. On April 8, 2010, Thomas J. Petters was sentenced to 50 years in federal prison for all counts related to running the Ponzi scheme.