Fraud case in Minnesota stirs new legal ripples years later

[TexasTowelie]

ST. PAUL, Minn. - Minnesota lawmakers are considering changing the rules on money that may be recovered for victims of businessman Tom Petters’ $3.7 billion Ponzi scheme.

The change would limit the recovery of investment income earned by charitable or religious organizations that took gifts from Petters or his associates, Minnesota Public Radio (http://bit.ly/2oLahkO ) reported. The law change would make clear that multiple kinds of donations can be protected after a certain time limit.

Some charitable foundations confronted by claims from a court-appointed receiver support the change. But the receiver, Minneapolis attorney and former white-collar prosecutor Doug Kelley, says it could take $35 million off the table.

“That would be borne not by the taxpayers, but by the victims of the Ponzi scheme,” Kelley said Tuesday before a House-Senate conference committee hashing over differing public safety and judiciary budget plans.

Read more: http://www.sctimes.com/story/news/local/minnesota/2017/04/26/fraud-case-minnesota-stirs-new-legal-ripples-years-later/100936090/

[PdxSean]

1. Who'd'a thunk it?

I'd'a thunk the religious organizations would have volunteered to return the victims' monies. Surely, Shirley, they're gonna prey, er, pray on it then pass the collection plate and do what's right, right? Yea, that's the ticket.