Former CEO and local millionaire may be sitting in jail awaiting trial for a multi-billion Ponzi scheme, but his monthly expenses still surpass nearly every American's yearly income.
Americans who make more than $277,000 a year are considered the top 1 percent of taxpayers. Now just multiply that by 12 and you've got Petters's yearly expenses. Where are the barf bags?More on Petters's living expenses, from the Star Tribune:
Next to each item is a decision by Doug Kelley, the Minneapolis attorney appointed to manage Petters' companies and financial affairs since his arrest in October.
In his motion to approve certain payments, Kelley said he intends to keep current on bills for anything that can be sold later, while denying living expenses beyond day-to-day necessities.
Preserving property is a priority. Paying for amenities -- cable-TV bills, gym memberships, dry cleaning, docking fees, a $20 horse blanket -- is not, judging from Kelley's recommendations.
Kelley lists four residences for Petters costing a total of $127,209 a month for mortgages, insurance and property taxes.
Read the full list of expenses in the PDF request here.
We never really felt sorry for Petters, but this just brings him to a new low. His requests prove how extremely out of touch he is and how he refuses to give up the lifestyle he gained due to alleged fraud. You're in for a big wake up call, buddy.