The Turnaround Men. (cover story)

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  • Additional Information
    • Subject Terms:
      UNITED States
    • Subject Terms:
      PETTERS Group Worldwide (Company)
    • Subject Terms:
      PETTERS, Tom; VENNES, Frank
    • Abstract:
      The article focuses on the U.S. investigation of entrepreneur Tom Petters and the Ponzi scheme associated with his Petters Company Incorporated (PCI) business. Details about the educational, business, and criminal background of Petters and his evangelicalism of his business colleague Frank Vennes are included. The false investments, donations to political campaigns such as that of U.S. politician Michele Bachmann, and business deals with evangelical Christians and business are also discussed. The U.S. FBI (Federal Bureau of Investigation) investigation into the fraud is described along with the prison sentence of Petters and the potential sentencing of Vennes.