Tag: Tom Petters

Don’t look now, but Tom Petter’s house and home at 655 Bushaway Road in Wayzata, MN 55391 has been put up for sale!

Petter’s has been in trouble for his alleged ponzi scheming for some time, and the proceeds from the house will most likely go towards creditors.

Elisha and I boated past the backside of his property last weekend and wondered what, if anything was going on with it. Well, now we know it’s for sale.

Here is what the listing agent, Ryan Burnet indicated in the description:

World class newer const on private/gated 1.23 ac site w/approx 250 ft of shoreline & panoramic views. Details: 830 fsf guest house, library, wine room, exquisite kitchen, media areas, lakeside pool, autocourt & more. A fabulous Wayzata Bay Estate setting.

The property has 7 bedrooms, 9 bathrooms, 6 car garage, and 9,348 finished square feet.

To see the listing, visit these links:

http://www.edinarealty.com/Listing/ListingDetail.aspx?listing=40207157

http://www.coldwellbanker.com/servlet/PropertyListing?action=detail&ComColdwellbankerDataProperty_id=43015700&page=property

Image courtesy MLS of Minnesota.

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Another update about Wayzata businessman Tom Petters from the Star Tribune: Judge tells Petters legal team it’s not quitting

Do you get the sense that this trial will go on longer than Norm Coleman and Al Franken’s vote counting?

Stay tuned to Wayzata.com, your Petters update leader.

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Wayzata business man Tom Petters‘ attorneys are threatening to quit again, according to a number of media reports.

• Star Tribune: Tom Petters‘ lawyers: U.S. blocks fair trial
• WQOW: Petters attorneys threaten again to quit
• KAAL: Latest Petters‘ motions tackle statement, jury selection

Here are some of the most recent motions filed by Petters‘ attorneys:

• Petters motion on jury questionnaire
• Petters motions on FBI statement, raid

Stay tuned to Wayzata.com for all the latest Petters news and info.

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Just a quick update on Tom Petters. Tom Petters’ attorneys will be paid, and the Polaroid asset sale seems to get more challenging:

Ten Simple Rules For Sidestepping Scams

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Tom Petters’ attorneys are indicating that the government’s attempt to restrict fees so as to preserve the assets for creditors makes it impossible for a good defense.

Jon Hopeman, Petters lead attorney, says that the team he has assembled will not be able to continue–and the team wonders if they will even get paid for the $500,000 in fees they have generated to date. Estimates to defend Petters are in the $5,000,000 range.

Read more about Petters’ attorneys here:

• Pioneer Press: Petters’ lawyers worry they won’t get paid
• KSTP: Petters’ attorneys go on strike
• KARE: Petters attorneys want to quit over nonpayment
• MPR: Petters attorneys want to quit over nonpayment
• Star Tribune: Petters’ attorneys ask to withdraw

Tom Petters trial will not move to another venue as a U.S. District Judge Richard Kyle has denied an attempt by Petters attorneys to change the venue from Minnesota to Iowa or Wisconsin.

In late February Petters attorneys requested that his trial be moved due to unprecedented news and blog coverage of the arrest and alleged fraud by the Wayzata resident, blaming in part the Star Tribune by name and alluding to everyone else that has published a story on him.

While the Judge has ruled denying argument to change venues, he did leave open the possibility of moving the trial should should a fair jury not be able to be found.

Here are some of the latest stories about this at this time:

• KSTP: Judge denies Petter’s change of venue request
• MSPBJ: Petters to be tried in MN
• Star Tribune: Petters trial to stay in St. Paul for now

Stay tuned to Wayzata.com for all the latest Petters news.

The Star Tribune is reporting that Tom Petters home in Colorado has been sold by court appointed receiver Doug Kelley. Here is an excerpt from the article:

Receiver Doug Kelley might have been whistling John Denver’s “Rocky Mountain High” last week when he took the final steps to close on the sale of Tom Petters’ Keystone, Colo., getaway for $1.5 million.

Apparently, Kelley is still trying to market and sell Petters Wayzata home located at 655 Bushaway Road (pictured), as well as his Florida waterfront home.

Stay tuned to Wayzata.com for all the latest Tom Petters info.