Assets of Petters co-defendents frozen


Tom Petters' assets have already been frozen, but a federal judge ordered the same for the co-defendents, according to WCCO. This includes Deanna Coleman, Robert White, James Wehmhoff, Larry Reynolds, Michael Catain and Frank Vennes.

We wish this meant ramen noodles and PB&J until the case closes, but we doubt it. Check out the details after the jump.

According to WCCO:

Deeana Coleman, the whistleblower in the case, asked that one of her accounts be unfrozen for "urgent living expenses." The judge agreed, allowing Coleman to have access to an $8,300 checking account.

Similarly, Frank Vennes, a defendant in the civil suit, asked the judge for permission to sell his $80,000 golf membership because the sale of Vennes' son's home was contingent on it. The judge also allowed that transaction.

A receiver, attorney Doug Kelley, will be in charge of all of the defendants' accounts.

Another interesting tidbit from the blog:

There is a lot of speculation about what triggered Deeana Coleman to turn Petters in after being part of the scheme for 14 years. There has been testimony in court that the pressure from investors was growing intense.

The top 20 creditors list in the Petters bankruptcy has been updated. Check it out here.

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