MINNEAPOLIS AP - Petters Group Worldwide and a subsidiary have filed for Chapter 11 bankruptcy protection following a federal investigation into a $3 billion fraud scheme that authorities say was run by the company's founder.The subsidiary, Petters Co. Inc., is a venture capital unit and has been the focus of the investigation.
October 14, 2008 at 12:00 AM
1 minute read
MINNEAPOLIS AP – Petters Group Worldwide and a subsidiary have filed for Chapter 11 bankruptcy protection following a federal investigation into a $3 billion fraud scheme that authorities say was run by the company’s founder.
The subsidiary, Petters Co. Inc., is a venture capital unit and has been the focus of the investigation.
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